Abu Dhabi’s renowned tech ecosystem, Hub71, kickstarts the year with its latest cohort of 15 dynamic startups. These cutting-edge startups span across strategic sectors aligned with Abu Dhabi’s ambitions, including healthtech, fintech, and edtech. With the addition of these startups, Hub71’s ecosystem now boasts a vibrant community of over 240 innovative ventures.
Notably, 67% of the selected startups hail from outside the UAE, solidifying Abu Dhabi’s stature as a thriving global hub for innovation and business. Originating from the UAE, the US, New Zealand, Egypt, the Netherlands, and the UK, these startups bring diverse perspectives and expertise to fuel growth and drive transformative solutions.
Among the standout startups joining Hub71 are healthtech pioneers Exsurgo and Ovasave. Exsurgo, backed by a $10.5 million (Dhs38.6 million) investment, leverages neuroscience and data analytics to provide non-pharmaceutical treatments for neurological conditions. Meanwhile, Ovasave revolutionizes women’s access to fertility and egg-freezing services through an innovative tech platform and a carefully vetted network.
The cohort also includes fintech disruptors like Subsbase, simplifying recurring payments for businesses, and Inovat, offering a hassle-free digital VAT refund solution for travelers, saving them over 20% on shopping without paperwork or airport queues.
With a remarkable surge in applications from startups, Hub71 witnessed a 70% increase compared to the previous cohort, attracting a high-quality pool of early-stage ventures eager to establish their presence in Abu Dhabi.
Ahmad Ali Alwan, deputy CEO of Hub71, emphasized the rigorous selection process and the startups’ potential to become global tech leaders, saying: “Our first cohort of 2023 is comprised of companies that have showcased a competitive edge in building differentiated tech platforms and products. By attracting and scaling startups with solutions that make a difference in people’s lives, we aim to make an impact on Abu Dhabi’s economy and society and continue bolstering its position as a leading global innovation hub.”