Under the patronage of Sheikh Khalid bin Mohamed bin Zayed Al Nahyan, member of the Abu Dhabi Executive Council and chairman of the Executive Committee, Jassim Mohammed Buatabh Al Zaabi, chairman of the Abu Dhabi Executive Office, officially launched Hub71. It is a tech ecosystem supported by some of the world’s most powerful technology investors and companies to accelerate the Emirate’s goal of becoming the nucleus of a vibrant tech start-up ecosystem.
Abu Dhabi’s Hub71 is a key initiative of the Government’s Ghadan 21 economic acceleration programme announced last September by His Highness Sheikh Mohammed bin Zayed al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces.
As part of this initiative, the Abu Dhabi Government has announced it will launch an AED535 million fund administered by Abu Dhabi Investment Office to invest in start-ups and venture capitalists (VCs) at Hub71. Starting April 28, 2019, the fund will co-invest with VCs in Hub71 based tech start-ups through a government matching scheme, as well as invest in first-time fund managers to support their establishment and growth in the Emirate. Hub71 is also offering fully subsidized housing, office space and health insurance for seed-stage tech companies. For more established tech ventures, 50% subsidy packages will be available.
“Abu Dhabi has proven itself as a place where innovation can succeed and inspire. Through the Abu Dhabi Government’s economic programmes and plans, we’re doubling down on our efforts to make Abu Dhabi a global beacon for technology and innovation,” states Al Zaabi.
For the first time, Abu Dhabi’s Hub71 will bring together three key pillars that are essential for the success of Abu Dhabi’s tech ecosystem – capital providers, business enablers and strategic partners. Mubadala Investment Company, Microsoft and SoftBank Vision Fund are founding partners of this new initiative, working in close collaboration with Abu Dhabi Global Market to create a dynamic business environment for innovation and entrepreneurship.
According to a report by the United Nations, the fashion industry accountsFebruary 18, 2021 | By Shruthi Nair
The jewellery making industry has been under tremendous scrutiny over the yearsFebruary 11, 2021 | By Shruthi Nair
UAE-based Carrefour will become the first retailer in the region to offer new levels
The Organic Farmers’ Market is back in Bay Avenue for its 12th
UAE-based Lulu Group recently inaugurated its first-ever all-female staff store in Jeddah,
Jones the Grocer, the gourmet grocer and cheese retailer launches the Jones
UAE-based Al Maya Supermarkets is hosting a two-week food festival at select
Locally-owned supermarket Spinneys has launched its ‘Power of Plants’ initiative in the
Carrefour UAE has launched “Cookit Yourself” — a curated recipe box created
UAE-based Al Islami Foods, one of the largest frozen food companies in
Marks & Spencer’s plant-based range now offers over 25 vegan products including meat-free
World’s largest fully integrated online brand in fresh fish and meat e-commerce
Homegrown, organic and plant milk company, Koita has announced its expansion into
British brand Marks & Spencer, operated by the Al-Futtaim Group has launched
b8ta, a software-powered retailer with its mission to build ‘retail as a
UAE-based e-commerce retailer LetsTango.com and Aramex, a global provider of comprehensive logistics
Tighter restrictions on hotels, restaurants, shopping malls and entertainment venues on account of
Walid Hajj and Fahad Alhokair, have officially launched the region’s first hybrid,
While the MENA region’s e-commerce sector was witnessing significant growth of 15-20%
Jacky’s Business Solutions, a B2B solutions provider for robotics, is now offering
Gargash Enterprises, the authorized dealer of Mercedes-Benz in Dubai, Sharjah and the
All hotels and restaurants have been directed to temporarily hold entertainment activities
The new Dubai Gold Souk is “very much on track”, according to
Gone are the days of traditional brick-and-mortar as well as purely e-commerce
The Dubai Gold & Jewellery Group’s ongoing jewellery campaign, held in association