Hub71 startups in Abu Dhabi have achieved revenues of $1.1bn
Startups within Hub71, Abu Dhabi’s global tech ecosystem, have secured over AED7 bn ($1.9bn) in funding, achieving revenues exceeding AED4 bn ($1.1bn), according to CEO Ahmad Ali Alwan.
Alwan highlighted Hub71’s significant growth, with the ecosystem now hosting more than 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments, generating revenue, and fostering growth.
Alwan revealed that Hub71 has received over 2,500 applications for its programmes, with plans to onboard around 50 new startups by the end of 2024.
Hub71 in Abu Dhabi
This strong interest, he said, underscores Abu Dhabi’s position as a leading investment destination and a global economic hub for business growth.
He emphasised Hub71’s ongoing efforts to attract international companies from advanced sectors to the emirate. Alwan noted that the UAE has provided world-class infrastructure and resources, creating an ideal environment for businesses to thrive.
Source: www.arabianbusiness.com