Abu Dhabi's Hub71 Onboards 23 Startups In Its 13th Cohort
The cohort includes tech startups from 11 industries.
Abu Dhabi's Hub71 has selected 23 startups to join its 13th cohort, the tech park announced in a press release. The startups have collectively raised more than $53 million in funding to-date.
The startups will participate in Hub71's new Company Building Program and receive up to AED 250,000 ($68,000) in in-kind incentives and AED 250,000 ($68,000) in cash for equity. High-performing startups can also qualify for a top-up of up to AED 250,000 in exchange for more equity.
The startups come from 11 industries, including fintech, climatetech, foodtech, healthtech and edtech, among others. Seven of the cohort's startups will become members of Hub71+ Digital Assets, a specialized ecosystem for Web3 and digital assets. The cohort also includes two climatetech startups, namely, San Diego-based Aquaai, which delivers data from waterways with 3D printed, bio-inspired fishlike drones and the UAE-based Carbonsifr, which offers businesses an AI-powered climatetech platform to calculate and reduce emissions.
The hub reported a 107% surge in applications from more than 100 countries this year. The latest cohort includes tech startups from the UAE, Egypt, and Saudi Arabia, in addition to businesses from the UK, Canada, India, and Armenia that plan to establish offices in Abu Dhabi - with 40% of the startups in the most recent cohort coming from the US.