First four startups to join Abu Dhabi’s Hub71
The four will benefit from an incentive package which includes subsidised housing, office space and health insurance
Four startups are to set up a presence at Hub71 in Abu Dhabi, where they will base the majority of their development and engineering capabilities.
BitOasis, a UAE-based digital asset exchange platform, Lamsa, an Arabic language learning app, US-based Surkus, an experiential marketing tech platform and Bayzat, an insurance and HR tech startup, will all start operations at Hub71 over the coming weeks.
Mahmoud Adi, CEO of Hub71, commented: “We are thrilled to have four ground-breaking startups, Lamsa, Surkus, BitOasis and Bayzat, as part of Hub71’s community of founders. Abu Dhabi is fast becoming known as a launchpad for growth where tech innovators can turn bright ideas into reality through its great infrastructure, support and access to a wider global ecosystem. We hope to inspire more pioneering startups to Abu Dhabi over the coming months with breakthrough technologies that disrupt industries and sectors.”
These firms make up the first cohort of startups at Hub71 to qualify for early admission and are to benefit from Hub71’s incentive packages which includes subsidised housing, office space and health insurance plans for the founders and their employees. The packages, expected to save startups up to AED 3.5 million of non-dilutive capital, are designed to help firms invest their available capital on growing their businesses and attracting engineers.
At Hub71, the startups will gain access to a network of interconnected business enablers and industry partners.
Hub71, located in Abu Dhabi Global Market Square on Al Maryah Island, is a partnership of Mubadala, Microsoft, Abu Dhabi Global Market with the backing of the Ghadan 21 program, an Abu Dhabi Government initiative set up to accelerate the Abu Dhabi economy.
The tech hub aims to foster startup success, innovation and growth, bringing together government entities, corporations, academics and startups.