UAE - Hub71, Bpifrance set to unlock funding for startups
Thursday, 10 15 2020, Category: Technology, Country: U.A.E
Hub71, Abu Dhabi’s global tech ecosystem powered by Mubadala Investment Company, has forged a strategic partnership with French national investment bank, Bpifrance, to strengthen joint efforts that boost innovation and provide mutually beneficial opportunities for tech startups, companies and entrepreneurs in Abu Dhabi and France.
The agreement will foster close collaboration between Hub71 and Bpifrance that will bridge the gap between the dynamic tech ecosystems of Abu Dhabi and Paris, said HUB71 in a statement on Monday.
The global tech ecosystem and French investment bank have agreed to explore launching programmes that immerse select startups in the Abu Dhabi and French tech ecosystems, offering the successful startup applicants with access to mentorship, meetings with potential partners and opportunities to pitch investors.
Each programme aims to develop new and innovative technology products and services designed for the UAE and French markets. Hub71 and Bpifrance have also agreed to explore co-investment opportunities in startups.
Commenting on the announcement, Hanan Harhara Al Yafei, CEO at Hub71, said, "Bpifrance shares our long-term commitment of promoting entrepreneurship, ensuring French startups can arrive in Abu Dhabi’s Hub71 and use our dynamic ecosystem as a springboard to a prosperous Middle East and North Africa region."