Media ININ Economy We Trust
Media IN/ ABU DHABI, 2nd May, 2019 (WAM)
Hub71, a global tech hub driven by Mubadala in collaboration with Microsoft, SoftBank Vision Fund and Abu Dhabi Global Market, announced that two new partners, Techstars and Starburst, will join Hub71 in Q4 of this year. Hub71 is a key initiative of the Abu Dhabi Government’s Ghadan 21 economic acceleration program.
The accelerators are aimed at maximising success for start-ups from anywhere in the world. In addition to their unique mentorship-based 12-week programs, both accelerators bring direct access to funds, sector expertise and a global network of industry leaders.
The essence behind is to position Abu Dhabi as a leading global city for ambitious founders seeking to set up and grow their technology companies. Hub71’s mission is to remove regulatory roadblocks faced by start-ups. Additionally, there is need to build a global network of technology partners and investors around Hub71 founders to increase their chances of success.
Within the first month of launching Hub71, there was success in the tied two strong partnerships with global accelerators: Techstars, a mentorship-driven accelerator that offers funding and a worldwide network, and Starburst, the number one aerospace accelerator in the world. Until applications are open in September, there will be need to double down efforts to offer the world’s fastest tech company setup and excel at supporting early and growing start-ups in every aspect of their business needs.
Techstars is the worldwide network that helps entrepreneurs succeed and the fact that it is working with Hub71 in Abu Dhabi, United Arab Emirates will help it grow and scale the startup community. The company has been active in the UAE through prior Techstars programs and welcome the opportunity to extend our global network of over 150 countries, over 10,000 mentors and over 300,000 alumni. The experience is helping global founders through mentorship-driven 12-week programs providing product development training, pitch preparation workshops, demo days and investment. Hub71’s dedication to building a culture of innovation aligns perfectly with Techstars’ mission to help entrepreneurs create businesses around the world.
Aerospace has been one of Abu Dhabi’s top priorities for the last twenty years, including the establishment of the UAE Space Agency. Starburst will provide a three-month program for ten start-ups per year, including direct financing, world-class mentors from the aerospace industry and access to local financing. Abu Dhabi is the latest addition to the global network after having launched programs in Los Angeles, Montreal, Paris, Munich and Singapore. Since its creation in 2013, Starburst has accelerated more than 200 start-ups around the world.
