UAE - Mubasher: Hub71, Abu Dhabi’s global tech ecosystem, has selected 16 tech startups from 11 countries and seven sectors in its first cohort of 2021.
Hub71 has selected its first startups, out of 150 applicants from 34 countries, from India, Saudi Arabia, Turkey, Mauritius, and South Africa, alongside its first SpaceTech startup, according to a press release on Wednesday.
The selected startups have collectively raised over AED 274 million ($75 million) in funding from global institutions, including Goldman Sachs and Saudi Aramco Entrepreneurship.
Hub71's first cohort of 2021 includes startups developing disruptive technologies such as the world’s first blockchain satellite constellation and the world’s first AI/machine learning-based ideation recommendation and sourcing platform.
The Interim CEO of Hub71 and Head of Ventures and Growth at Mubadala Investment Company, Ibrahim Ajami, said: "Our first cohort of 2021 builds on our momentum and is a clear reflection of our emphasis on attracting and admitting the most promising startups from around the world to our dynamic community."
Ajami added: "As our community evolves, we are preparing to launch our new generation of incentives that give founders more flexibility and choice to ensure we can meet their needs at any stage."
