Abu Dhabi’s tech ecosystem Hub71 and Siemens Energy will now support the emirate’s tech start-ups aimed at addressing climate change issues.
This is part of the UAE works to achieve its goals of net-zero emissions by 2050, and will support the nation’s ability to drive investments in green infrastructure and clean energy projects both locally and globally.
“The powerful combination of technology and entrepreneurship raises our ability to address global challenges and, by capitalising on the expertise of Siemens Energy, we will focus our efforts to attract leading CleanTech and ClimateTech startups to establish a presence in Hub71 so that we can pool our combined efforts towards reducing emissions and promoting a low carbon economy,” Hub71’s acting chief executive Badr Al-Olama, said.
The agreement comes at a time when the UAE is set to host COP28 in 2023 and will identify prominent CleanTech and ClimateTech startups to explore investment opportunities that have the potential to accelerate the clean energy transition.
Siemens Energy will explore opportunities to participate in Hub71’s value-driven programmes focused on increasing market access and the potential for fundraising.
The programmes include Ventures Lab, a venture builder by Hub71 and Modus Capital, which helps exceptional entrepreneurs to build ideas into market-leading businesses.
Siemens Energy will also provide select startups with strategic mentorship by participating in knowledge-sharing platforms, building from its expertise in developing sustainable, reliable, and affordable clean energy technologies, WAM said.
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