Hub71 has announced that seven new startups will bring a significant part of their operations to the Abu-Dhabi based tech hub
Hub71 has announced that seven new startups will bring a significant part of their operations and presence to the Abu-Dhabi based tech hub.
The seven startups are specialised in fintech, health tech, travel tech, AI, blockchain and social impact, it said in a statement.
Spanning across many industries, the startups include two Emirati founders - Basil Al Askari of MidChains and Faisal Al Hammadi of Yacob - as well as an international cohort including Arab, Asian and American founders; some of which have come from Jordan and the US, to be part of the wider Abu Dhabi ecosystem.
The start-ups that will be joining Hub71 include Yacob, a digital health nutrition management platform, SafarPass, a travel tech SaaS platform with an all-in-one solution to manage business trips and expenses on-the-go, ProTenders: a B2B platform for the construction industry, and MidChains, a fintech company and a regulated digital asset trading platform.
Humanitas, a US-based company that uses artificial intelligence to drive social enterprise and philanthropy using a mobile app, Dandi, that enables organisations and youths to engage on community issues, Ammbrtech, a US-based blockchain and telecoms infrastructure company, and Arabot, an Arabic and English language AI chatbot platform, have also joined.
In addition to the first four startups announced earlier in June, these companies will benefit from Hub71’s incentive packages, which includes subsidized housing, office space and health insurance plans for founders and their employees.
The packages, which will save startups up to AED3.5 million of capital, are designed to help firms invest their available capital on growing their businesses and attracting highly qualified engineers.
Mahmoud Adi, CEO of Hub71, said: “We are proud to welcome seven new startups that are focused on building innovative products and businesses at Hub71. We are seeing more and more Emirati Nationals becoming entrepreneurs, innovating and taking risks to pursue their dreams.
"Basil Al Askari and Faisal Al Hammadi are great examples of Emirati founders who believed in their product and have now branched out to build tech businesses, with success. Being resilient and focused on achieving a personal goal - one which may change the lives of many people - is what we aim to have more of in Abu Dhabi.”
Hub71, located in Abu Dhabi Global Market Square, aims to foster startup success, innovation and growth. Startups from any sector will be able to apply for Hub71's incentive packages later in 2019.