GoDubai
  
  
  
  
Citylife > Press Release
  Home Contact us Add to Favourites
Most Recent Postings
More Press Releses
Featured Sections

Event Finder
A daily roundup of exhibitions, promotions and other events in Dubai and the rest of the Emirates.
Submit an Event
Latest Dubai Press Releases >> Technology

 
  Share
  • 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 : GoDubai Editorial Team
Viewed 6442 times
Posted on : Thursday, August 1, 2019  
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of GoDubai.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

Comments

Back to Top  
Most Viewed Press Release posted in the last 7 days
Get Festive Ready With Prestige Cosmetics Holiday Collection
Chlo's Iconic Carlina Sunglasses In a Precious New Interpretation
PACE to Space
Master Chronometer: Raising Standards
Holiday Hair-Styling Essentials from VIERRO
Luxe Beauty Gifts for your Loved Ones this Festive Season
Arabic version of Zoho Creator launched to help businesses create custom applications
Formula 1 meets Virgin Hyperloop One: California-based Developer to Showcase Pas...
Indulge in New flavours sprinkled With A Dash of Bollywood & Nostalgia at Hitchki
Life-changing Raffles Announced for 25th Edition of Dubai Shopping Festival
Union Coop Pays Tribute to the Martyrs on Commemoration Day'
'Tis the Season to Be Glamorous - Beauty Essentials from GlamBeaute.com!
Cisco Advances Solutions to Simplify Cybersecurity Processes in Saudi Arabia
Emirates Post issues commemorative stamps to celebrate the UAE 48th National Day
Homegrown Jewellery Brand Sumaya Bakkar Collections Curated Festive Gift List
Berkan Steakhouse Launches in Dubai
ENEC Releases 'Tasamoh' a Rehabilitated Green Turtle and organizes Beach Cleanu...
Robinsons celebrates UAE National Day with leading Emirati brands and a host of ...
Dunecrest American School Celebrates the UAE National Day
Zambian President affirms commitment to bolster UAE ties
Your Holiday Gift Guide for Her
China Homelife the Largest China Sourcing Platform Set to Showcase a Wide Variet...
Spice Up with Shades of Brown from 2XL Furniture & Home Dcor
Italy breaks ground for its Pavilion at Expo 2020 Dubai
LG Electronics Announces Leadership and Operational Changes Ahead of 2020
Dubai Cares' Volunteers bring hope to children in remote village in Senegal
Celebrate the 48th UAE National Day at Dalma Mall'
Pupils at Dubai Heights Academy mark 48th National Day with two days of traditio...
Arabian Automobiles INFINITI presents the apex in road safety with the QX50'
GROHE Goes ZERO Carbon-Neutral Production by 2020
du & National Archives offer nostalgic journey into UAE's past on 48th National Day
Dubai Festival City Mall Visitors In for A Jolly Festive Season Like No Other in...
Customs World inks MoU with Indonesia to roll out World Logistics Passport
Emotional and highly dynamic: the design of the MINI John Cooper Works GP.
The Middle East Organic Market's Premiere Business Event Opens In Dubai
Statement Cardigans
GROHE received the Red Dot: Brand of the Year
New year, New You with Lunette
Cole Haan Makes Its Debut at Sole Dxb 2019 Showcasing Footwear Collaborations
Sumo Sushi & Bento Celebrates UAE National Day With an Exclusive Bento Offer for...
Ministry of Economy launches new development plan as part of the National Progra...
Best Menswear Items
Uncovering the Beauty of Mechanics'
Annual DIAC Conference examines impact of UAE Arbitration Law
Set Up Stylish Outdoor Spaces with 2XL Furniture & Home Dcor
Air Cargo Peak Season off to Slow Start, Annual Demand down 3.5% in October
Emiratis and expats set off to a two-week Camel Trek across the UAE desert
Lewis Hamilton Tops Off Sixth World Title With Victory at Formula 1 Etihad Airwa...
ENEC welcomes visit by senior Emiratis to headquarters in Abu Dhabi