ABU DHABI (ALETIHAD)
His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member and Minister of Tolerance and Coexistence, has toured Hub71 to explore Abu Dhabi's global tech ecosystem’s efforts to enhance its startup community further and attract world-class international startups to the UAE capital for expansion into the Middle East region. The visit underscores the UAE's commitment to promoting innovation and entrepreneurship as key drivers of economic diversification and sustainable growth.
During his visit, His Excellency Sheikh Nahyan bin Mubarak Al Nahyan had the opportunity to engage with a range of homegrown and international startups that have chosen Abu Dhabi as their operational base to scale in the region. These fast-growing companies operate within sectors that align with the emirate’s priority sectors such as FinTech, ClimateTech, HealthTech and EdTech. The founders presented their innovative business models and how they aim to deploy AI and other cutting-edge technologies to redefine the future of their respective industries in a way that positively impacts society and Abu Dhabi’s economy.
His Excellency Sheikh Nahyan bin Mubarak Al Nahyan, Cabinet Member and Minister of Tolerance and Coexistence, said: "It is truly inspiring to visit Hub71, which has played a critical role in developing a thriving entrepreneurial ecosystem and supporting Sandooq Al Watan’s UAE National Incubator Network. The innovative startups choosing Abu Dhabi as a launchpad for future growth have a bright future ahead with the support of Hub71, which exemplifies our nation’s commitment to fostering knowledge and reinforcing our position as a world-class destination for cutting-edge innovation and successful entrepreneurship."
The minister received a comprehensive briefing on Hub71's strategic initiatives to create a sustainable and dynamic ecosystem to attract top startups worldwide. During the briefing, Ahmad Ali Alwan, CEO of Hub71, highlighted the importance of forming solid partnerships with UAE national champions and collaborating with Abu Dhabi government entities in supporting startups. As part of these efforts, Hub71 has been an active member of the Sandooq Al Watan community, supporting the UAE National Incubator Network, which promotes knowledge sharing in the nation’s wider ecosystem. These activities have been crucial in helping Hub71 startups bring innovative products and services to market and garner interest from investors worldwide.
Ahmad Ali Alwan, CEO of Hub71, said: “It was an honour to host His Excellency Sheikh Nahyan bin Mubarak Al Nahyan to Hub71, giving us the opportunity to learn from his deep insights and present our contribution to Abu Dhabi’s tech ecosystem. The UAE’s visionary leadership has consistently honed a flexible environment that promotes collaboration between its national champions, which accelerates technological innovation and attracts startups from across the globe to scale successfully out of Abu Dhabi.”
Abu Dhabi’s global tech ecosystem is gaining strength with the involvement of Sovereign Wealth Funds such as Mubadala Investment Company and ADQ. Their participation in high-profile deals, such as Mubadala's acquisition of a stake in Air Carbon Exchange, the world's first fully regulated carbon trading platform, enhances Abu Dhabi's reputation as a capital-rich environment. Abu Dhabi Global Market's (ADGM’s) progressive regulatory framework further supports startups by providing companies with a favorable regulatory environment. Abu Dhabi Investment Office (ADIO) ensures that Hub71 startups have a clear path to long-term success, as demonstrated by Abhi, a leading Pakistani embedded finance platform, now part of ADIO's Innovation Program. Today, Hub71 supports over 315 startups in 22 sectors that have raised AED5.5 billion in capital and generated revenues of over AED3.7 billion since 2019.