Abu Dhabi Hub71 startups secure $1.9bn in funding
ABU DHABI, 19 days ago
Abu Dhabi's global tech ecosystem Hub71 has annnounced that startups operating within its premises have secured over AED7 billion ($1.9 billion) in funding, said its top official.
The ecosystem is now hosts over 300 startups from around the world and has forged 150 partnerships to support these companies in attracting investments, generating revenue, and fostering growth.
Its revenues too witnessed solid growth soaring to over AED4 billion ($1.08 billion), stated its CEO Ahmad Ali Alwan while speaking to the Emirates News Agency (Wam) on the sidelines of Abu Dhabi Business Week, which concluded today at Adnec.
Alwan revealed that Hub71 has received over 2,500 applications for its programmes, with plans to onboard around 50 new startups by the year-end.
This strong interest underscores Abu Dhabi's position as a leading investment destination and a global economic hub for business growth, he added.
