Startups in Abu Dhabi’s Hub71 ecosystem raised a record-breaking $2.17bn (AED8.02bn) in 2023, according to its 2024 Impact Report.
This marks a 44.7% year-on-year rise from $1.5bn (AED5.4bn) in 2022, underscoring robust investor confidence in the emirate’s innovation ecosystem. Startup revenues also rose to $1.2bn (AED4.5bn), compared to $1bn (AED3.5bn) the previous year, signalling strong commercial momentum across priority sectors.
Hub71 received more than 3,100 applications from founders across 20+ countries. Of the 46 startups chosen, over 70% were from international markets, with more than half at Seed or Series A stages. Startups from the US, UK, and Germany made up nearly 63% of Cohort 16, reinforcing Abu Dhabi’s role as a link between global tech centres and emerging markets.
CEO Ahmad Ali Alwan stated that Hub71 has evolved into a collaborative ecosystem of entrepreneurs, investors, and partners, driving real impact. He emphasised the continued mission to empower founders and solidify Abu Dhabi’s global tech standing.
According to the 2024 Global Startup Ecosystem Report, Abu Dhabi is MENA’s fastest-growing emerging startup hub, with a 28% increase in ecosystem value to $4.2bn. Hub71’s specialised verticals—such as Digital Assets, ClimateTech, and AI—have drawn startups tackling major global issues.
The ecosystem also saw capital partners deploy $65m (AED238m) in 2024, while the Angel Investor Support Package backed five new angel networks. Meanwhile, 91 corporate agreements worth $28m (AED103m) were signed with both public and private entities.
Major funding rounds included FlapKap ($34m), 44.01 ($37m), and BioSapien ($5.5m), highlighting Abu Dhabi’s growing influence as a launchpad for globally relevant innovation.
