Tech ecosystem drives investment and revenue growth, solidifying Abu Dhabi’s position as a regional innovation hub.
Startups within Hub71, Abu Dhabi’s global tech ecosystem, have secured over AED7 billion ($1.9 billion) in funding and generated revenues exceeding AED4 billion ($1.1 billion), according to CEO Ahmad Ali Alwan. These achievements highlight the emirate’s growing prominence as a hub for innovation and economic development in the Middle East and North Africa (MENA) region.
Significant Growth and Partnerships
Hub71, which now hosts over 300 startups from around the globe, continues to expand its influence in the tech industry. The ecosystem has formed more than 150 partnerships designed to help startups secure investments, increase revenues, and scale their operations effectively.
“These numbers underscore the immense potential of Abu Dhabi’s investment landscape,” said Alwan, highlighting the robust support mechanisms available to businesses within Hub71.
In addition to fostering partnerships, Hub71 has received over 2,500 applications for its programmes. By the end of 2024, the ecosystem plans to onboard approximately 50 new startups, further solidifying its role in nurturing innovation.
Global Appeal and Strategic Vision
The continued interest in Hub71 reflects Abu Dhabi’s reputation as a leading destination for investments and business growth. The emirate’s strategic focus on advanced technology sectors, combined with world-class infrastructure, has created an environment where startups can thrive.
Alwan emphasised:
“The UAE has provided world-class infrastructure and resources, creating an ideal environment for businesses to thrive.”
Hub71’s proactive approach includes attracting international companies from cutting-edge industries to establish their presence in Abu Dhabi. This effort aligns with the UAE’s broader vision to position itself as a global economic hub.
Driving Regional Leadership
With its rapidly growing ecosystem, Hub71 has emerged as a key player in the MENA region’s innovation landscape. The milestone funding and revenue figures are a testament to the success of its strategic initiatives and the entrepreneurial spirit it fosters.
As the fastest-growing emerging ecosystem in the region, Abu Dhabi continues to strengthen its reputation as a hub for technological advancement, economic growth, and investment opportunities.
