Hub71, Abu Dhabi’s global tech ecosystem, has grown its community to more than 200 startups. Twenty new 20 companies have joined its latest cohort.
The new cohort marks Hub71’s third intake of startups this year as he ecosystem attracted a 60 per cent increase in applications from founders worldwide.
Abu Dhabi’s global tech ecosystem is designed to support founders in scaling successful tech companies and maximise investment and commercial opportunities. The startups also benefit from flexible incentives to ease the process and cost of setting up.
The new cohort of startups hail from six countries globally – nine UAE-based while the remaining 11 have relocated to Abu Dhabi
Among the new arrivals are Dayra, a data-driven fintech company providing financial services to unbanked workers and microbusinesses via API integration. There’s also Mesha, an all-in-one financial solution for Web3 organisations. Plus Vezgo, which provides a complete API solution to Web3, fintech and crypto companies.
Digital consumer bank Bloom allows East Africans to receive remittances instantly, while Dutch fintech startup Thndr offers a digital investment platform regulated by the Egyptian Financial Regulatory Authority.
Distihain is a platform that delivers white-label B2B marketplace infrastructure-as-a-service using blockchain and AI, while Pemo offers an all-in-one spend management platform that includes smart corporate cards, invoice payment systems and expense tracking functions.
Milestone for Hub71
Badr Al-Olama, Acting CEO of Hub71, said: “Hub71 has now reached a key milestone of building a community of over 200 tech startups in Abu Dhabi. This success is testament that Abu Dhabi is becoming a destination for high quality startups that showcase great potential and impact.
The startups in our latest cohort have reinforced themselves with half a billion dirhams of funding, and we look forward to their evolution towards global prowess on the world stage.”
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors.
Image and article originally from thefintechtimes.com. Read the original article here.