Hub71, Russia’s Sber partner connects the technology ecosystem and promotes global technology exchanges

Hub71, Abu Dhabi’s global technology ecosystem, has signed a new partnership with Russia’s largest commercial bank Sber to provide services to more than 100 million customers and approximately 1 million companies. It is also one of the largest digital ecosystems that unite various banks. More than 60 companies in the industry.

UAE and Russian technology companies, startups, venture capital companies and investors will benefit from the new partnership, which aims to build a technological bridge between the two markets. The partnership aims to increase market access and long-term business potential for innovation-led companies.

In the first half of 2021, investment in Russian start-ups tripled and exceeded a record $1 billion. Sber, headquartered in Moscow, is actively expanding its influence in global technology and innovation. It has launched a number of initiatives in the field of education for aspiring entrepreneurs and supports operating technology companies.

One of the flagship projects is “Sber500”, which was launched in 2018 as an international accelerator program between Sber and 500 Global (500 Startups). The program enables startups to work with Silicon Valley mentors for eight weeks. The graduates have achieved success in both Russian and foreign markets.

As part of the agreement, companies participating in the Sber500 program will enter Hub71’s Abu Dhabi global technology ecosystem, where they will benefit from its corporate and government partners and value-driven programs that help raise funds and achieve commercial The transaction provides more opportunities through more effective listing channels.

In addition, Hub71 startups will have access to Sber’s startup community and various programs, thereby providing a launch platform to enter the Russian market. Sber and Hub71 will identify mutually beneficial opportunities for technology startups and key corporate partners of the two countries.

Hub71 Acting CEO Badr Al-Olama commented: “Our partnership with Sber reflects our common goal of accelerating technology-driven solutions and bridging the gap between our two high-growth markets. The founding of Hub71 People now have a clear way to enter Russia’s booming technology and innovation market. There is a strong talent pool and a profitable market to make sound investments in influential technological ideas.

“Importantly, we hope that leading Russian startups from A to C+ rounds can directly establish contacts with Abu Dhabi’s innovators, companies and investment funds. These connections will expand the commercial potential of Russian startups and increase their presence in bulk Potential in land transactions and enable founders to innovate on a large scale in the open and flexible regulatory environment provided by the UAE.”

Anatoly Popov, Vice Chairman of the Executive Board of Sberbank, said: “With the support of the Abu Dhabi government and Mubadala Investment Company, Hub71 provides innovative companies in any industry with access to global markets, capital and partner networks. We will work hard. Develop cooperation with Hub71 to lead Russian start-ups. Essentially, we are building a technological bridge between the two economies for the benefit of the Russian Federation and the UAE. We will further develop our business in the Middle East market, mainly With the participation of our subsidiary Sberinvest Middle East Limited in Abu Dhabi, the company’s main mission is to become a major partner in investment transactions between Russia and the Middle East.”