Venture capital raised by tech start-ups at Abu Dhabi’s Hub71 has reached AED4.5bn ($1.2bn), with over 900 jobs created. In 2022, the community grew by 102%, with more than 200 start-ups, including 51 early-stage companies, joining Hub71 to scale their businesses. The initiative facilitated 41 proofs of concept for corporate partners, worth AED160m ($43.5m) by year end.
Additionally, Hub71’s incentive programme helped founders save AED81m ($22m) in costs, contributing to their success. The ecosystem expanded initiatives to attract tech start-ups to Abu Dhabi, providing access to a growing pool of investors. Hub71 is driving technological advancements and supporting the economic diversification of Abu Dhabi, with its impact expanding globally. Hub71 is launching Hub71+ specialist ecosystems in Digital Assets, ClimateTech, and BioTech in 2023 to broaden its reach into specific technology subsectors.