ABU DHABI, 19th May, 2021 (WAM) Hub71, Abu Dhabi’s global tech ecosystem, announced its first cohort of 2021, selecting 16 tech startups from 11 countries and seven sectors out of 150 applicants to join its vibrant community.
The number of successful applications reflect an 11 percent success rate that led to Hub71 selecting its first startups from India, Saudi Arabia, Turkey, Mauritius and South Africa, in addition to its first SpaceTech startup, following the pioneering Emirates Mars Mission and recent selection of the UAE’s.
Hub71 selects 16 new startups and supports community with funding
7 hours ago Hub71 attracted more than 100 startups in under two years. Hub71, Abu Dhabi’s global tech ecosystem, announced its first cohort of 2021, selecting 16 tech startups from 11 countries and seven sectors out of 150 applicants to join its vibrant community.
The number of successful applications reflect a 11 per cent success rate that led to Hub71 selecting its first startups from India, Saudi Arabia, Turkey, Mauritius and South Africa, in addition to its first SpaceTech startup, following the pioneering Emirates Mars Mission and recent selection of the UAE’s first female astronaut.
Hub71 selected startups have collectively raised more than Dhs274 million ($75 million) in funding from globally renowned institutions including Goldman Sachs and Saudi Aramco Entrepreneurship, and world leading investors Y Combinator, Draper Associates, 500 Startups, Plug and Play and Techstars.
Hub71 selects 16 new startups, supports community with funding reporters@khaleejtimes.com Filed on May 19, 2021
More than 15 local, regional, and international VC funds are based at Hub71 with assets under management worth more than $1.72 billion.
Supplied Photo
Hub71 selected startups have collectively raised more than Dh274 million.
Hub71, Abu Dhabi’s global tech ecosystem, announced its first cohort of 2021, selecting 16 tech startups from 11 countries and seven sectors out of 150 applicants to join its vibrant community.
The number of successful applications reflect an 11 percent success rate that led to Hub71 selecting its first startups from India, Saudi Arabia, Turkey, Mauritius and South Africa, in addition to its first SpaceTech startup, following the pioneering Emirates Mars Mission and recent selection of the UAE’s first female astronaut.
Hub71 selects 16 new startups for 2021 batch tradearabia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from tradearabia.com Daily Mail and Mail on Sunday newspapers.
RIYADH: Saudi Arabia’s sovereign wealth fund is backing a Middle East venture-capital fund run by Hambro Perks Ltd., joining the trend for state investors in the region to put money into early-stage companies, according to Al Arabiya citing Bloomberg.
The Public Investment Fund (PIF) of Saudi Arabia is an anchor investor in the $50 million Oryx Fund, which will target fintech, health and education technology startups across the Middle East and North Africa (MENA), according to Dominic Perks, co-founder of London-based venture firm Hambro Perks.
Oryx is the first Western venture-capital fund to get backing from PIF, which made the investment through its Jada unit, according to a statement from Hambro Perks. Other investors include Saudi Venture Capital Co. and Riyadh Valley Co.