United

Overnight

Status

Hub71, Abu Dhabi’s renowned global tech ecosystem, has recently unveiled its latest cohort of startups, comprising 23 innovative companies from around the world.
These startups have collectively raised $53 million in funding, a testament to Hub71’s growing stature as a hub for entrepreneurship and innovation.
Following a highly competitive selection process, the successful startups have earned the opportunity to participate in Hub71’s newly launched Company Building Program.
As part of this initiative, they stand to benefit from up to AED 250,000 in in-kind incentives and an additional AED 250,000 in cash in exchange for equity. What’s more, high-performing startups from this cohort could be eligible for an extra boost of up to AED 250,000 in exchange for additional equity after their first year.
Hub71 witnessed a 107 percent increase in applications from more than 100 countries, highlighting Abu Dhabi’s growing appeal as a global innovation destination for aspiring entrepreneurs. This surge in interest underscores the city’s commitment to nurturing talent and promoting cutting-edge technology on a global scale.
The latest cohort of startups comprises tech companies hailing from countries across the region, including the UAE, Egypt, and Saudi Arabia, alongside firms from the UK, Canada, India, and Armenia, who are all poised to establish a foothold in Abu Dhabi. Notably, approximately 40 percent of the startups in this cohort originate from the United States, illustrating the burgeoning attraction of Abu Dhabi’s thriving innovation ecosystem to established tech hubs.
Diverse in nature, these startups operate across 11 different industries, all aligned with Abu Dhabi’s strategic economic priorities. These sectors include FinTech, ClimateTech, HealthTech, and EdTech, indicating their role in advancing the city’s economic agenda and pushing it closer to its goals.
Seven startups from this cohort have earned their place in Hub71+ Digital Assets, a specialized ecosystem dedicated to unlocking the potential of Web3 and digital assets. By joining this initiative, startups can tap into a network of 13 dedicated partners, including digital asset exchanges, global technology providers, venture capital funds, blockchain platforms, and other commercial and investment opportunities necessary for scaling their businesses.
One noteworthy addition is Avantgarde Finance, a UK-based startup that has secured $5.5 million in funding. They provide a platform for digital asset investment managers to seamlessly plug into, launch their strategies, and achieve scalable growth.
As part of Abu Dhabi’s growing focus on the role of innovation and technology in supporting climate action, Hub71 has selected two ClimateTech startups. These companies have developed innovative technologies aimed at fostering a more sustainable future.
Acquai, backed by $1.5 million (AED 5.5 million) in funding, is a software and hardware service company delivering data from waterways through the use of 3D printed, bio-inspired fish-like drones. Another pioneering startup, Carbonsifr, founded in the UAE, focuses on climate tech solutions that enable businesses to take tangible climate action. These solutions include an emissions calculation engine, an AI-based reduction platform, and a checkout tool designed to engage consumers in their daily lives.
Ahmad Ali Alwan, Deputy CEO of Hub71, shared his perspective on the latest cohort, saying, “With each cohort, we are noticing increasing interest from high-growth startups worldwide seeking to establish their businesses and expand from Abu Dhabi. Tech entrepreneurs recognize the distinct advantages of setting up their companies in the UAE capital, which provides a favorable environment for developing and marketing innovative products and services that can transform the business world. By attracting startups with immense growth potential, Hub71 is building on its powerful community of visionary entrepreneurs who will pave the way for the future of innovation.”
The 23 startups selected to join Hub71’s 13th&nbsp;cohort are:
<ol type="1" start="1">
 <li>AlGooru&nbsp;is an online service that connects students from various age groups with private on-demand tutors.</li>
 <li>Anecdote&nbsp;is a customer analytics platform that delves into each customer feedback ticket, drawing from various sources to deliver valuable insights that companies can use to make better product decisions.</li>
 <li>Aquaai&nbsp;is a software and hardware service company delivering data from waterways using 3D-printed, bio-inspired fishlike drones.</li>
 <li>Atiom&nbsp;is a behavioral tech platform and mobile solution for deskless teams, primarily focused on creating real business value for large enterprise organizations.</li>
 <li>Autobia&nbsp;is a B2B marketplace leveraging data to solve the infrastructure and after-sales challenges in the automotive industry.</li>
 <li>Avantgarde Finance&nbsp;provides digital asset investment managers a platform to plug into, launch their strategies, and grow at scale.</li>
 <li>BioSapien&nbsp;is a validated FDA drug delivery platform that can slow-release drugs over a specified period into tumors directly.</li>
 <li>Carbonsifr&nbsp;is a platform that neutralizes the carbon footprint across businesses and industries.</li>
 <li>ClearQuote Technologies&nbsp;utilizes computer vision to assess vehicle images automatically and identify and evaluate defects or damages.</li>
 <li>CrunchDAO&nbsp;leverages the power of Web 3.0 collective intelligence to create a next-generation financial insights provider.</li>
 <li>Digital First AI&nbsp;offers a solution to the marketing industry by providing an all-in-one AI integration.</li>
 <li>Droplinked by FlatLay&nbsp;is a Web 3 commerce enabler for consumers and enterprises, bridging the gap between Web 2 and Web 3 capabilities with no-code, headless solutions.</li>
 <li>FlapKap&nbsp;is a user-friendly tech funding platform that integrates with e-commerce, social media and advertising platforms, marketplaces, payment gateways, and Enterprise Resource Planning (ERPs).&nbsp;</li>
 <li>Goodable&nbsp;uses AI to deliver mental health programming to any screen or device.&nbsp; Its platform is clinically proven to improve employee mood, health and productivity by up to 96%.</li>
 <li>Lemonade Fashion&nbsp;is a video-first fashion and beauty platform. The social platform lets users shop directly from the video and check out from the same integrated system.</li>
 <li>Momint&nbsp;enables accessible funding and trade of solar photovoltaic1 (PV) investments with a built-in digital wallet, specializing in putting real assets and legal contracts on the blockchain.</li>
 <li>Netki&nbsp;is an identity validation provider with deep expertise in high-scale and high-fraud environments.</li>
 <li>Overnight Finance&nbsp;is an asset management protocol offering passive yield products based on delta-neutral strategies, primarily for conservative stablecoin investors.</li>
 <li>Param Labs&nbsp;is a game and blockchain development studio that delivers the highest quality blockchain-integrated games to the masses through player-owned digital assets.</li>
 <li>PriceOye Technologies&nbsp;is a managed marketplace for consumer electronics at the best prices with a built-in price comparison engine.</li>
 <li>Retailhub&nbsp;is a platform for direct integrations between retailers and aggregators.</li>
 <li>Sustainable Planet&nbsp;is an AgriTech company utilizing sustainable technology to combat food insecurity and climate change.</li>
 <li>Syd&nbsp;is a SaaS platform in predictive/preventative health tech that focuses on improving the life quality of employees as a success strategy from a business to an individual employee perspective.</li>
</ol>
The post <a rel="noopener noreferrer nofollow" href="https://www.unlock-bc.com/111138/hub71-unveils-23-startups-reinforcing-abu-dhabi-global-tech-powerhouse/">Hub71 Unveils 13th Cohort of 23 Startups, Reinforcing Abu Dhabi’s Status as Global Tech Powerhouse</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://www.unlock-bc.com">UNLOCK Blockchain</a>.

Hub71 Unveils 13th Cohort of 23 Startups, Reinforcing Abu Dhabi’s Status as Global Tech Powerhouse

UNLOCK_ENG

Other articles published on Oct 30, 2023

Singapore Teams Up With Global Regulators to Boost Digital Assets

XRP Price Continues to Rise: Will the Increase in Price Please XRP Investors?

Pepe (PEPE) Approaching $500 Million Market Cap

PlayDapp Talks: Your Monthly Dose of Excitement and Updates

Binance to list Celestia with unique risk mitigation measures

Gary Gensler’s Bitcoin ETF position is ‘inconsistent’… says Gary Gensler

Join our free newsletter for daily crypto updates!