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Officials during the launch of Hub71’s Tech Barza.
Abu Dhabi’s global tech ecosystem, Hub71, has launched a new platform dedicated to increasing capital investment in tech companies, including startups from the region’s leading family offices. Tech ‘Barza’ – meaning Parliament – is an exclusive capital club targeting regional family offices with exclusive access to Hub71’s vibrant community of nearly 200 startups to speed up the deal process.
In 2021, startup funding in the MENA region reached an unprecedented level of $2.6 billion, a 138% increase compared to 2020. Globally, there has been a steady rise in family offices investing in startups.
In 2021, 5% of global venture deals include family offices – more than double the level a decade ago. Tech Barza will facilitate technology companies and startups to connect with strategic investors with sizable portfolios in companies that can accelerate product-market fit and go-to-market capabilities.
Tech Barza’s inaugural gathering includes leading family offices at Hub71 in the international financial hub of Abu Dhabi Global Market (ADGM), including Ali & Sons, Al Nowais Investments, Yas Investments, Al Tayer Group, Crescent Group, Faith Capital, The Kanoo Group , Al Fahim Group, Saif Bin Darwish, etc. Family offices invited to join the Sole Capital Club will benefit from a range of offerings, including pitch days, access to investor networks, invitations to events and business forums led by Hub71’s strategic partner Mubadala Investment Company, and set-ups within ADGM Support, and access to Hub71’s project and venture partners.
Badr Al-Olama, Acting CEO of Hub71, said: “The private sector plays a key role in shaping our country for the next 50 years and there is no doubt that family offices are the heartbeat of the economy. With the launch of Tech Barza, we will not only bring Supporting economic growth in the region will also bring diversity and inclusion to family offices, dispel misconceptions about exclusion, and strengthen the mission of knowledge sharing.”
Since Hub71 launched in 2019, the global tech ecosystem has brought in AED3.2 billion to its startup community. Through its capital community of more than 20 venture capital and venture debt funds, Hub71’s startups are receiving investment to develop sustainable businesses influenced by UAE capital. Hub71 is Abu Dhabi’s global tech ecosystem, enabling founders to build globally lasting homegrown tech companies in any sector by providing access to global markets, an ecosystem of capital, a global partner network, and a vibrant community of highly skilled talent , managed by forward – thinking regulation.
With support from the Government of Abu Dhabi and Mubadala Investments, Hub71 is growing its vibrant community of tech startups, investors, government and corporate partners to secure public and private sector investment, business activity and incentives Availability of measures.
Through Hub71’s startup infrastructure, value-added programs, support services, and support packages, founders can build and scale widely adopted technologies with purpose and impact.
Hub71’s mission is to bring new ideas and technologies to Abu Dhabi, finding new ways to build globally lasting technology companies and sustain the country’s continued economic development.
Earlier, Abu Dhabi’s global tech ecosystem, Hub71, formed an extensive partnership with GetFundedAfrica, a tech-enabled marketplace that matches startups, investors (VCs and angels), corporations and governments , to support the growth of tech startups.
Announced during Gitex Global 2022 in Dubai, the new cross-border initiative aims to provide a soft landing for Hub71 startups looking to expand into Africa, as well as startups looking to enter the African continent from Abu Dhabi into the UAE and the Middle East.
From getting local company set-up assistance to licensing and opening bank accounts, startups will be supported by Hub71 and GetFundedAfrica to introduce themselves to potential clients and investors through their respective networks of corporate partners and investment funds.
The partnership also aims to enhance Hub71’s ability to identify and attract Africa’s most promising startups, while offering GetFundedAfrica as a dedicated entry point into the African market for founders recommended by its vibrant community.
Additionally, UAE-based startups will be able to use the Ogun Technology Centre as a soft landing entry into sub-Saharan Africa. Both Hub71 and GetFundedAfrica will deepen their talent pools, providing start-ups with access to local universities to unleash young and highly skilled talent in their respective markets.
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