Abu Dhabi’s Hub71 gets in 15 more start-up ventures
Wednesday, 04 29 2020, Category: Economy, Country: U.A.E
Fifteen start-ups have joined Abu Dhabi-based Hub71’s incentive programme, where the benefits include free housing and office space for two years. They also get free medical insurance. “Seed” companies get to avail of these services, while “emergent” companies can access 50 per cent subsidises for three years.
“The 15 winning start-ups will add immense value to Abu Dhabi in terms of knowledge-sharing and ecosystem diversity as the world rapidly accelerates its digital transformation,” said Ebrahim Ajami, interim CEO of Hub71 and Head of Ventures at Mubadala Investment Company. “Like our start-ups, Hub71 is rising to the challenges Covid-19 is presenting, and we are adapting to the needs of our wider community alongside the government, businesses and our community of entrepreneurs.
The 15 start-ups include US-based healthtech company Aumet, with the firm able to connect 50,000 medical manufacturers with distributors for Personal Protective Equipment for hospitals.
Source: Gulf News