Abu Dhabi's tech hub sees surge of start-up interest |
Abu Dhabi’s new technology hub, Hub71, which is backed by Abu Dhabi state fund Mubadala Investment, the SoftBank Vision Fund, and Microsoft, has accepted 100 start-ups since its launch in 2019 after a selection process that generated about 3,500 applications. Hub71 chief operating officer Jida Itani said: "Despite COVID and everything else, start-ups continue to apply. In fact we have seen a surge in particular sectors that [has] been accelerated by the pandemic like health tech, education tech and fintech." She said start-ups are enthusiastic about a base in the UAE following successes by local technology firms, including Anghami, a regional rival to Spotify that is anticipated to list on the Nasdaq exchange in New York. Companies were offered free office space, housing and insurance for all their employees, Itani said. |
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