ABU DHABI, 15th April, 2024 (WAM) — Hub71, Abu Dhabi’s global tech ecosystem, has welcomed 25 new start-ups as part of its latest cohort.

The selected start-ups will enter Hub71’s “Access” programme, and specialist ecosystems Hub71+ Digital Assets and Hub71+ ClimateTech, bringing the total number currently in Hub71’s programmes to 223. Hub71’s Cohort 14 has raised more than US$122 million in funding, with each start-up raising $5 million on average.

Hub71 continues to attract a diverse range of international tech start-ups to Abu Dhabi, receiving over 1,200 applications, with more than 65 percent from international markets. The onboarded start-ups hail from countries across the region, including the UAE, Egypt, and Saudi Arabia, and ventures from the United States, the United Kingdom, Canada, Singapore, Sweden, New Zealand, Spain, and South Korea, reinforcing Abu Dhabi’s global appeal as a leading tech hub and launchpad for startup growth.

In addition, 64 percent of the cohort are Seed and Series A, reflecting Hub71’s ability to scale high-potential start-ups from the early stages of growth. Operating in nine sectors, including FinTech, ClimateTech, HealthTech, EdTech, and Mobility and Logistics, the start-ups will play a vital role in future-proofing key sectors of Abu Dhabi’s economy.

Five start-ups in the cohort will join Hub71+ ClimateTech, representing the first batch to join the specialist ecosystem dedicated to advancing technologies that drive decarbonisation and support a net-zero future. The start-ups will benefit from a broad network of leading regional and global corporations, investment partners, and Abu Dhabi’s progressive regulatory environment to scale their climate technologies globally.

Among the start-ups is Canadian-headquartered Basetwo, which has raised $6 million in funding and provides an AI co-pilot platform designed for engineers offering tactical recommendations to optimise production yield to reduce cycle time and costs without compromising product quality. Swedish start-up Graphmatech has also raised $10 million and employs cutting-edge graphene technology to develop solutions for the hydrogen economy and high-performance batteries.

Similarly, Hub71+ Digital Assets, the specialist ecosystem focused on unleashing the growth potential of Web3 and digital assets, continued to witness significant growth with the onboarding of nine new start-ups, increasing the total number of start-ups in the specialist ecosystem to 17.

Notable additions to the specialist ecosystem include Bit2Me, an industry-leading crypto brokerage in Europe, which has raised $15 million, and Immersve, an end-to-end solution for Web3 wallets, to support centralised and decentralised payment experiences which raised $9 million.

Ahmad Ali Alwan, CEO of Hub71, said, “As Abu Dhabi continues to empower innovative tech companies, Hub71’s revamped programmes and specialist ecosystems provide start-ups with the resources they need to succeed in a market embracing transformation and visionary founders. Cohort 14 is particularly noteworthy.

“The cohort’s start-ups’ track record of successful fundraising emphasises the strong growth potential Hub71 programmes aim to unlock. Furthermore, this cohort also includes the first start-ups joining the Hub71+ ClimateTech specialist ecosystem, which aims to develop solutions aimed at addressing global climate challenges and supporting the UAE’s sustainability ambitions.”

By joining Hub71’s “Access” programme, Hub71+ ClimateTech or Hub71+ Digital Assets, start-ups will benefit from up to AED250,000 worth of in-kind incentives and AED250,000 in cash for equity. After a year, high-performing start-ups will also be eligible to receive a top-up of up to AED250,000 in exchange for additional equity. Start-ups will also receive expert mentorship and tailored advice and will be able to tap into Hub71’s growing network of market and capital partners to unlock growth opportunities.

ABU DHABI, 16th April, 2024 (WAM) — G42, the leading UAE-based artificial intelligence (AI) technology holding company, and Microsoft today announced a $1.5 billion strategic investment by Microsoft in G42.

The investment will strengthen the two companies’ collaboration on bringing the latest Microsoft AI technologies and skilling initiatives to the UAE and other countries around the world. As part of this expanded partnership Brad Smith, Vice Chair and President of Microsoft, will join the G42 Board of Directors.

This expanded collaboration will empower organisations of all sizes in new markets to harness the benefits of AI and the cloud while ensuring they are adopting AI that adheres to world-leading standards in safety and security.

Building on the two organisations’ long-standing collaboration in AI and digital transformation initiatives, Microsoft’s investment deepens the reciprocal commitment to this strategic partnership. G42 will run its AI applications and services on Microsoft Azure and partner to deliver advanced AI solutions to global public sector clients and large enterprises.

G42 and Microsoft will also work together to bring advanced AI and digital infrastructure to countries in the Middle East, Central Asia, and Africa, providing these nations with equitable access to services to address important governmental and business concerns while ensuring the highest standards of security and privacy.

H.H. Sheikh Tahnoon bin Zayed Al Nahyan, Chairman of G42, said, “Microsoft’s investment in G42 marks a pivotal moment in our company’s journey of growth and innovation, signifying a strategic alignment of vision and execution between the two organisations. This partnership is a testament to the shared values and aspirations for progress, fostering greater cooperation and synergy globally.”

The partnership will also support the development of a skilled and diverse AI workforce and talent pool that will drive innovation and competitiveness for the UAE and broader region with the investment of $1B in a development fund for developers.

“Our two companies will work together not only in the UAE, but to bring AI and digital infrastructure and services to underserved nations,” said Brad Smith, Microsoft Vice Chair and President. “We will combine world-class technology with world-leading standards for safe, trusted, and responsible AI, in close coordination with the governments of both the UAE and the United States.”

DUBAI, 12th April, 2024 (WAM) — Dubai Electricity and Water Authority (DEWA) is organising the 26th Water, Energy, Technology and Environment Exhibition (WETEX) from 1st to 3rd October 2024 at the Dubai World Trade Centre.

Saeed Mohammed Al Tayer, MD and CEO of DEWA, Founder and Chairman of WETEX, said that as one of the largest specialised exhibitions in the world, WETEX supports the UAE and Dubai’s efforts to mobilise international efforts aimed at accelerating the energy transition and achieving net-zero, especially in the UAE’s Year of Sustainability.

He added that the exhibition is a global platform to learn about the latest technologies, solutions, and innovations from all over the world to find solutions to current and future challenges and ensure a brighter and more sustainable future for all. Thanks to the continued support of the wise leadership, the exhibition has become an essential pillar in supporting the achievements of the Dubai Clean Energy Strategy 2050 and the Dubai Net Zero Carbon Emissions Strategy 2050 to provide 100% of Dubai’s total power production capacity from clean energy sources by 2050.

WETEX also enjoys increasing support from all stakeholders, sponsors, and partners who find it an ideal annual opportunity to exchange expertise and experiences, conclude deals, build partnerships, and explore investment opportunities in local and regional markets.

The 25th WETEX 2023 attracted around 2,600 companies from 62 countries worldwide and 76 sponsors from local and international companies and organisations. It included 24 international pavilions from 16 countries and covered an area of 78,000 square metres.