Hub71, the renowned global tech ecosystem in Abu Dhabi, has announced the inclusion of 15 startups in its first cohort of the year. These startups operate in sectors that align with Abu Dhabi’s strategic ambitions, including HealthTech, FinTech, and EdTech. With the addition of these startups, the vibrant community at Hub71 has now grown to over 240 startups.
The latest cohort reflects the increasing global recognition of Abu Dhabi as a robust innovation hub, with 67 percent of the selected startups being headquartered outside the UAE. This reinforces the notion that tech entrepreneurs can access capital, a thriving community, and a business-friendly environment in Abu Dhabi. The 15 startups hail from various countries, including the UAE, USA, New Zealand, Egypt, the Netherlands, and the UK.
Notable among the startups joining Hub71 are two HealthTech companies, Exsurgo and Ovasave, which are making significant contributions to healthcare. Exsurgo, having raised $10.5 million (AED 38.6 million), utilizes neuroscience and data analytics to provide non-pharmaceutical treatments for neurological conditions. Ovasave, on the other hand, offers innovative solutions for seamless access to fertility and egg-freezing services through a vetted network. Additionally, the cohort features FinTech startups such as Subsbase, backed by prominent investors like Global Ventures and Plug and Play, which simplifies recurring payments for businesses. Another noteworthy addition is Inovat, which offers a digital VAT refund solution, enabling travelers to save over 20% on shopping without the hassle of paperwork or airport queues.
Hub71 witnessed a substantial 70 percent increase in applications to join its startup community compared to the previous cohort, with a notable rise in high-quality early-stage startups selecting Abu Dhabi as a long-term base for expansion. As Hub71 supports tech startups at all stages of growth, founders can benefit from generous incentives, programs, and access to investors, corporations, government entities, and academic institutions as part of the Abu Dhabi ecosystem.Ahmad Ali Alwan, Deputy CEO of Hub71, expressed his satisfaction with the rigorous selection process for the startups, emphasizing their unique capabilities and potential to become global tech companies originating from Abu Dhabi. He also highlighted the competitive edge showcased by the companies in building differentiated tech platforms and products. By attracting and scaling startups that make a positive impact on people’s lives, Hub71 aims to contribute to Abu Dhabi’s economy and society, further solidifying its position as a leading global innovation hub.
