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Picture: Hub71
Hub71, Abu Dhabi’s global technology ecosystem, has welcomed its first cohort of 15 new startups this year.
These companies operate in key sectors that align with Abu Dhabi’s strategic objectives, including health technology, fintech and edtech companies. The latest batch of additions brings the size of the Hub71 ecosystem to more than 240 startups.
In the latest batch of startups, 67% of selected startups are headquartered outside the UAE, further cementing Abu Dhabi’s position as a global hub for innovation and business.
The 15 startups come from the United Arab Emirates, the United States, New Zealand, Egypt, the Netherlands and the United Kingdom.
Among the startups joining Hub71 are two health technology startups making a major impact in the healthcare space: Exsurgo and Ovasave.
Exsurgo has raised $10.5 million (Dh38.6 million) and uses neuroscience and data analytics to provide non-drug treatments for neurological diseases.
At the same time, Ovasave leverages 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, while Inovat offers a digital VAT refund solution that empowers travelers Be able to save over 20% on your purchases without worry. Paperwork or waiting in line at the airport.
Complete list of startups joining Hub71
- Cypherleak is a cost-effective risk monitoring solution that enables companies to understand their breached 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-end digital asset infrastructure platform that enables businesses across the MENA region to integrate embedded experiences for their customers in a regulatory and compliant manner.
- Inovat is a digital VAT refund solution that allows travelers to save over 20% on their VAT refunds when shopping without having to complete any paperwork or queue at the airport.
- LivLyt is democratizing access to the latest technology devices through subscriptions, which provide solutions that are more affordable, flexible and convenient than other options.
- Mashvisor is a platform that combines all the services needed for real estate investing, reducing three months of research time to just 15 minutes.
- MediJobs is a platform that enables highly skilled healthcare professionals to connect with an exclusive network of top practices recruiting in their field.
- Ovasave is a technology platform that leverages 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 technology-powered hyperlocal distribution centers.
- SubsBase is a subscription management platform that enables businesses to seamlessly and efficiently manage the customer lifecycle through 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 gives graduates easy access to mentoring, portfolio building and job matching as they transition into the workforce.
- Zest Equity is a platform for all venture capital investors that democratizes risk trading in emerging markets.
Significant increase in applications from new startups
Hub71 has received a 70% increase in applications to join the startup community compared to its previous counterpart, with a significant increase in the number of high-quality early-stage startups being considered for establishment in Abu Dhabi.
Ahmad Ali Alwan, Deputy CEO of Hub71, said: “Each new startup goes through a rigorous selection process and our selection is based on its unique capabilities and growing global presence 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. Attracting and scaling new startups that deliver solutions that change people’s lives , we aim to have an impact on Abu Dhabi’s economy and society and continue to solidify its position as a leading global innovation hub.”
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