Hub71 joins hands with TechWadi


September 6, 2020 | By RetailME Bureau

Abu Dhabi’s technology ecosystem powered by Mubadala Investment Company, Hub71 joins hands with TechWadi, a Silicon Valley-based non-profit organisation building meaningful connections and partnerships for entrepreneurs and investors across Silicon Valley and the MENA region. This partnership further supports Abu Dhabi’s strategy of becoming a global technology ecosystem that encourages Hub71 start-ups to flourish.

Hub71, a key initiative of the economic accelerator programme Ghadan 21, provides global start-ups with a founder-centric global community and supports them with improved access to capital, talent and mentorship, access to market and collaboration opportunities, as well as partnerships with large corporate, regulator and government entities.

The Hub71 and TechWadi programme will allow for cross-border knowledge sharing, investment deal flow and market-access for both ecosystems. US-based start-ups and venture capital (VCs) will gain priority access to Hub71’s ecosystem and incentive programme. While Hub71 start-ups will benefit by gaining direct access to US-based VCs within the TechWadi network, including the likes of Google Venture, 500Startups, Silicon Valley Bank as well as TechWadi network mentors from companies like Apple, Facebook, Google, Palantir, Salesforce and others.

As Hub71 joins hands with TechWadi, Nader Museitif, head of partnerships and business development of Hub71, said, “Our partnership with TechWadi creates value for both our international communities of founders as well as any US start-ups looking for growth opportunities in the Middle East. Companies on both sides will gain support, access to capital and market opportunities to scale their businesses abroad. In our pursuit of staying ahead of the curve, we are continually assessing and improving our offering and quest to help start-ups to thrive.”

As part of the partnership, TechWadi will also host a TechWadi US-Investor Pitch Day for selected Hub71 start-ups who will vie for US-based VCs and investors. As part of Hub71’s global outreach, strategic partner Mubadala Investment Company and its VC arm have also begun linking Hub71 startups to its extensive global network of VCs and portfolio companies.

“Given our focus on growing the entrepreneurial ecosystem in the Middle East and North Africa, and supporting the TechWadi community in Silicon Valley and beyond, we are excited by the partnership with Hub71 and the opportunity to help empower entrepreneurs through access to resources, mentorship, training and access to capital between Silicon Valley and Abu Dhabi. We look forward to the impact that can be created for the entrepreneurial ecosystem,” added Sharif El-Badawi, board member at TechWadi and manager partner at 500 Startups.

 

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