Dubai PR Network, Online Press Release from Dubai and Middle East
 
Technology, Computers & IT(Technology)
Filter PR by
  
Hub71 Welcomes Seven New Startups from Six Sectors
 
  • Mixture of Emirati, Arab and international founders to have new operational base in Abu Dhabi
  • Seven startups specialized in fintech, health tech, travel tech, AI, blockchain and social impact to join Hub71
 
1 August 2019, Abu Dhabi, United Arab Emirates: Hub71 has announced today that seven new startups will bring a significant part of their operations and presence to the Abu-Dhabi based tech hub. The seven startups are specialized in fintech, health tech, travel tech, AI, blockchain and social impact. Spanning across many industries, the startups include two Emirati founders who have decided to build their own businesses, Basil Al Askari of MidChains and Faisal Al Hammadi of YACOB. The international cohort also include Arab, Asian and American founders; some of which have come from Jordan and the US, to be part of the wider Abu Dhabi ecosystem.
 
The startups that will be joining Hub71 are:
  • YACOB: a digital health nutrition management platform that helps children and parents, schools and food vendors; improve their nutrition, health engagement and meal production.
  • SafarPass: a travel tech SaaS platform with an all-in-one solution to manage business trips and expenses on-the-go.
  • ProTenders: a leading B2B platform for the construction industry to connect, find new deals and manage bidding activities.
  • MidChains: a fintech company and a regulated digital asset trading platform uniquely positioned to service institutional and professional investors.
  • Humanitas: a US-based company that uses Artificial Intelligence to drive social enterprise and philanthropy using a mobile app, Dandi, that enables organizations and youths to engage and collaborate on community issues.
  • Ammbrtech: a US-based blockchain and telecoms infrastructure company that designs and develops decentralized hardware and software products.
  • Arabot: an Arabic and English language Artificial Intelligence chatbot platform that understands and analyses conversation and dialogue, for business applications. 
In addition to the first four startups announced earlier in June, these companies will benefit from Hub71’s generous incentive packages which include subsidized housing, office space and health insurance plans for founders and their employees. The packages, which will save startups up to AED 3.5 million of non-dilutive capital, are designed to help firms invest their available capital on growing their businesses and attracting highly qualified engineers. These startups are also planning their next phase of growth, and through Hub71 they will gain access to a global network of interconnected business enablers and industry partners.
 
Mahmoud Adi, CEO of Hub71, commented: “We are proud to welcome seven new startups that are focused on building innovative products and businesses at Hub71. We are seeing more and more Emirati Nationals becoming entrepreneurs, innovating and taking risks to pursue their dreams. Basil Al Askari and Faisal Al Hammadi are great examples of Emirati founders who believed in their product and have now branched out to build tech businesses, with success. Being resilient and focused on achieving a personal goal - one which may change the lives of many people - is what we aim to have more of in Abu Dhabi.”
 
MidChains is an up and coming Abu Dhabi-based institutional digital asset exchange and custodian.
 
Basil Al Askari, Co-Founder and CEO of MidChains, said: “Having searched the world for a financial center that was fit for our growing business and regulatory requirements, and as an Emirati National, I’m immensely proud to learn that Hub71 truly offers one of the world’s most competitive tech ecosystems. Hub71’s tech community and free office space made our growth plans possible. Having immediate access to a wider ecosystem of enablers was another essential element; especially for MidChains, a fintech company, which needs to operate globally right from the start.” 
 
Deployed in over 65 schools and cafeterias, YACOB, a seed-stage startup, is also one of the first startups to receive co-investment from Ghadan Ventures, an AED 535Mn fund that seeks to support the growth of Abu Dhabi’s startup and VC ecosystem. 
 
Faisal Al Hammadi, Founder and CEO of YACOB said, “Being based at Hub71 was a strategic business decision that would allow us to have better access to funding, among other benefits. Hub71’s generous incentive package means that we’re able to grow faster, attract high-caliber talent, and can expand our operations globally. We look forward to partnering with the Department of Health, Abu Dhabi, to help tackle important issues like child diabetes and obesity using smart nutritional programs. I’m excited to deliver this mission from the Capital and look forward to working with more schools and governments throughout the region.” 
 
Hub71, strategically located in Abu Dhabi Global Market Square, aims to foster startup success, innovation and growth; and is uniquely positioned to bring together government entities, investors, corporations, academics and startups.
 
Startups from any sector will be able to apply for Hub71's Incentive Packages from Q4 of 2019.


Posted by : Dubai PR Network Editorial Team
Viewed 5728 times
PR Category : Technology
Posted on : Thursday, August 1, 2019  11:01:00 AM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : Fortinet Reports Second Quarter 2019 Financial Results
Next Story : Capital One breach - statement from Forcepoint
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Move Aside C-beauty, K-beauty and J-beauty - There's a New Trend in Town and It Hails Fro... [7070-Views]
Inglot Cosmetics Partners With Cartoon Network for Limited Edition “The Powerpuff Girls” B... [6808-Views]
Autumn/Winter 19: Step out in the latest styles with City Centre Deira and City Centre Mir... [6442-Views]
Think LUNETTE for an earth-friendly period [5679-Views]
ACE launches its new and inspirational Outdoor collection [4618-Views]
Dress for Diwali With the Rack by Kachins [4514-Views]
Chain Reaction [4514-Views]
Restoration by Parmigiani Fleurier -The Yusupov Egg [4508-Views]
Sandro Launches Evening Capsule Collection [4270-Views]
‘A Gift of Gold' offers at Malabar Gold & Diamonds [4240-Views]
Handbags and Gladrags [4130-Views]
Celebrate guilt-free shopping to your fullest! [4124-Views]
VAIO returns to Middle Eastern in partnership with Nexstgo [4093-Views]
Eighth World Championship title in all categories for Tissot Ambassador Marc Marquez [4056-Views]
Unifonic empowers business to capitalize on instant messaging apps to engage with customer... [4032-Views]
New Strategic Partnership with Hewlett Packard Enterprise to help accelerate Abu Dhabi Dig... [4020-Views]
MBRU and King Saud University in Saudi Arabia join forces to enhance academic collaboratio... [3886-Views]
His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum Challenges the City to Be ‘I... [3849-Views]
Peugeot Boxer 4x4 Concept Revealed [3825-Views]
Saudi Arabia's Ministry of Energy highlights enhanced cybersecurity credentials at GITEX T... [3764-Views]
Dubai Land Department welcomes Saudi Minister of Housing [3684-Views]
Hazzaa AlMansoori Undergoes Medical Experiments at Stars City as part of His Scientific Mi... [3684-Views]
Victoria Beckham Eyewear Debuts New Collection for Fall 2019 [3660-Views]
During a press conference to announce the completion of preparations of Summit that will b... [3642-Views]
Team Abu Dhabi Stars Chase Double World Title Boost in China [3581-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories