Hub71, Abu Dhabi’s global tech ecosystem, welcomed its first team of 15 startups this year.
These companies operate in key sectors that align with Abu Dhabi’s strategic objectives, including medtech, fintech and edtech companies. The latest additions bring the size of the Hub71 ecosystem to over 240 startups.
In the latest cohort of start-ups, 67% of the selected start-ups are headquartered outside the UAE, further cementing Abu Dhabi’s position as a global innovation and business hub.
The 15 startups hail from the UAE, the US, New Zealand, Egypt, the Netherlands and the UK.
Among the startups that joined hub 71 Exsurgo and Ovasave are two healthtech startups making a big impact in healthcare.
Exsurgo raised $10.5 million (AED38.6 million) and uses neuroscience and data analytics to provide non-drug treatments for neurological disorders.
At the same time, Ovasave utilizes innovative solutions to provide women with seamless fertility and egg freezing services through a vetted network.
The group also includes fintech startups such as Subsbase, backed by investors such as Global Ventures and Plug and Play, which are simplifying recurring payments for businesses, and Inovat, which offers a digital VAT refund solution that enables travelers to Save over 20% when you shop without worry. Paperwork or queues at the airport.
Full List of Startups Joining Hub71
- Cypherleak is a cost-effective risk monitoring solution that enables companies to gain visibility into their leaked data and provides attack surface management, vulnerability scanning and risk scoring solutions.
- Elmawkaa is a marketplace for building materials. The automated process allows contractors and engineers to obtain competitive and accurate material quotes from vetted suppliers in minutes.
- Exsurgo uses neuroscience and data analytics to develop treatments for neurological diseases without the use of drugs.
- Fuze is a full-stack digital asset infrastructure platform that enables MENA businesses to integrate embedded experiences for their customers in a regulated and compliant manner.
- Inovat is a digital VAT refund solution that allows travelers to save over 20% on tax refunds when shopping without completing any paperwork or queuing at the airport.
- LivLyt is democratizing access to the latest technology devices through subscriptions, which offer a more affordable, flexible and convenient solution than alternatives.
- Mashvisor is a platform that combines all the services needed for real estate investing, reducing three months of research to just 15 minutes.
- MediJobs is a platform that enables highly skilled healthcare professionals to connect with an exclusive network of top practice recruiters in their field.
- Ovasave is a technology platform utilizing innovative solutions to provide women with seamless, integrated, digital fertility and egg freezing services through a vetted network.
- Rabbit Mart is a grocery service company with tech-enabled hyperlocal fulfillment centers.
- SubsBase is a subscription management platform that enables businesses to seamlessly and efficiently manage the lifecycle of their customers with recurring payments.
- Synapse Analytics is a data science, machine learning and artificial intelligence company that provides services and products to help organizations better use and monetize data.
- The Editing is a compact gene editing system that harnesses endogenous proteins to treat life-threatening genetic diseases.
- Qureos is a platform that makes mentoring, portfolio building and job matching easy for graduates as they transition into the workforce.
- Zest Equity is a platform for all venture investors that democratizes venture trading in emerging markets.
Significant increase in applications from startups
Compared to its predecessor, Hub71 received 70% more applications to join the start-up community, with a significant increase in the number of high-quality early-stage start-ups being considered for setting up in Abu Dhabi.
Ahmad Ali Alwan, Deputy Chief Executive Officer of Hub71, said: “Each startup goes through a rigorous screening process and our selection is based on its unique capabilities and its ability to grow globally in Abu Dhabi. The potential of technology companies. Our first cohort of 2023 consists of companies that have demonstrated a competitive advantage in building differentiated technology platforms and products. By attracting and scaling startups whose solutions change people’s lives, we aim to Make an impact on Abu Dhabi’s economy and society and continue to strengthen its leading position Global Innovation Center“