Hub71, a global tech hub driven by Mubadala Investment Company in collaboration with Microsoft, SoftBank Vision Fund and Abu Dhabi Global Market, has announced a new partnership with MIT Enterprise Forum Pan Arab.
MIT Enterprise Forum Pan Arab is part of a global network of chapters dedicated to promoting and enriching the entrepreneurship ecosystem in the Arab region.
Hub71 is a flagship initiative of the Ghadan 21 programme established to accelerate the existing economic agenda and Abu Dhabi's economy, as well as to create an environment where entrepreneurs can thrive.
With the joint mission of supporting entrepreneurs to go global, this partnership is part of a bigger movement across the Middle East and North Africa (Mena), said a statement from the organisation.
According to a recent MAGNiTT report there was a 222 per cent increase in Mena-based startup investments between 2015 and 2018. And with a record 404 deals taking place across the Arab world in 2018, the key enterprise indicators points to further growth and opportunity.
MAGNiTT’s report also demonstrated that ’35 per cent of all startups in the Arab world have HQs in the UAE’. As these startups mature, Hub71 will work closely with MIT Enterprise Forum Pan Arab to find startups who are ready for global growth, offering unprecedented access to global markets, capital and flexible regulatory policies in the UAE.
Mahmoud Adi, head of Hub71, said: “This is a special time to be a startup in the region. But while getting a business off the ground is a major accomplishment, it’s even harder to find pathways to scale that enterprise.”
“With our unique combination of access to capital, local and global networks and major technology and business partners coupled with an attractive regulatory environment, we can make that next step easier,” he said.
“Our partnership with MIT Enterprise Forum Pan Arab demonstrates our commitment to the region’s exceptional talent and will further enable us to be a global launchpad for innovation,” he added.
Hala Fadel, chair at MIT Enterprise Forum Pan Arab, said: “Since our start in 2005, we have contributed to shifting the mindset of thousands of Arabs towards entrepreneurship and innovation.”
“We want to partner with Hub71 to leverage our network of alumni to bring to Abu Dhabi new tech entrepreneurs who will benefit from both our networks to expand and grow global tech startups,” Fadel added.
Hub71 is a global ecosystem, through the support of the Abu Dhabi government and global partners to create an optimal environment to help startups and entrepreneurs develop, scale and build transformational businesses.
Hub71 is the destination of choice for tech companies, startups and investors looking to capitalise on growth opportunities in one of the world’s fastest growing economies, it stated. – TradeArabia News Service