Hub71 launches innovative programme to connect start-ups with Abu Dhabi corporations

Abu Dhabi-based global tech ecosystem Hub71 unveiled a new programme to connect selected start-ups with the emirate’s corporates, particularly those under Mubadala Investment Enterprise and professional holding firm ADQ, together with local and federal government agencies, to improve their market access.

The annual initiative, called The Outliers, is available to start-ups located in any portion of the world and you will be launched through a four-month roadshow across the emirate, Hub71 said in a statement on Tuesday.

The partnership with top rated public and private sector organisations will attract “ambitious start-ups” and “exceptional founders” to compete in the programme.

“Global tech start-ups can donate to the innovation blueprint of Abu Dhabi through the use of solutions to challenges that shift the status quo and influence the near future direction of our economy and talent pool,” Hanan Al Yafei, Hub71’s chief executive, said.

Hub71, made up of Dh520 million ($141.5m) from Abu Dhabi’s Ghadan 21 financial stimulus programme, houses 102 start-ups presently and is continuing to attract successful corporations from around the world. It has also helped posture the UAE capital as an creativity hub and possesses attracted start-ups in sectors that are crucial to its expansion, such as agricultural technology, health care and renewable energy.

The brand new scheme aims to create opportunities for global start-ups to work alongside and support Abu Dhabi’s businesses across various sectors to “build a solid pipeline of high-quality start-ups to consider doing business and relocating to Abu Dhabi”, Hub71 said.

The programme will target later on stage start-ups that contain proven products. Through the challenge, they'll be expected to develop proof of concepts that have good potential to come to be commercialised in the wider industry.

Besides financial help, the companies may also get an possibility to take part in a demo time to pitch before buyers and they'll have faster access to the Hub71 incentive programme.

Hub71’s incentive programme offers 100 per cent free housing, work place and wellbeing insurance for just two years for seed corporations and 50 % subsidies for 3 years for emerging corporations, equating up to Dh3m in rewards per start-up.

“Whatever challenges are collection, we believe start-ups may translate their bold thinking into tangible alternatives that react to larger organisations’ issues,” Ms Yafei said.

Hub71 has teamed up with organisations such as Etihad Airways, Department of Health Abu Dhabi, Thales, Mastercard, Abu Dhabi Commercial Lender and Mashreq for the program.

The tech ecosystem was create in March 2019 by the Abu Dhabi government, Mubadala Investment Organization, Abu Dhabi Global Market, Microsoft and SoftBank.

Its start-ups, which represent 16 tech sectors, collectively raised a lot more than Dh185m last yr. This year, they aim to generate more than 340 careers in the next 12 months.