Hub71 startups secure AED7 billion in funding

Startups within Hub71, Abu Dhabi's global tech ecosystem, have secured over AED7 billion in funding, achieving revenues exceeding AED4 billion, according to Ahmad Ali Alwan, CEO of Hub71.

Speaking to the Emirates News Agency (WAM) on the sidelines of Abu Dhabi Business Week, which concluded today at ADNEC, Alwan highlighted Hub71's significant growth. The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments, generating revenue, and fostering growth.

Alwan revealed that Hub71 has received over 2,500 applications for its programmes, with plans to onboard around 50 new startups by the end of 2024. This strong interest, he said, underscores Abu Dhabi's position as a leading investment destination and a global economic hub for business growth.

He emphasised Hub71's ongoing efforts to attract international companies from advanced sectors to Abu Dhabi. Alwan noted that the UAE has provided world-class infrastructure and resources, creating an ideal environment for businesses to thrive.