Hub71- Abu Dhabi's Global Ecosystem

Abu Dhabi Hub 71

Hub71 is a multi-faceted and full-service global tech community offering free services for startups, investors and large corporations. This collaborative environment seeks to build an innovative, technology-driven hub for entrepreneurs to scale their businesses globally, whether in tech or non-tech sectors. 

Located at the heart of Abu Dhabi Global Market, Hub71 shares best practices from around the world. In addition, Hub71 takes pride in providing entrepreneurs with a welcoming business environment.

An Overview at Abu Dhabi Hub 71 Incentive Program

The Hub71 Incentive Program alleviates the cost of setting up and living in Abu Dhabi for innovative tech startups. It is an interconnected tech ecosystem backed by multinational partners, providing access to capital and market opportunities. In addition, we gather a community of world-class investors looking to fund high-potential startups. 

The Hub71 Incentive Program removes costs and eases setting up innovative global startups with bold plans to shape the future. Hub71 is a globally connected tech ecosystem backed by multinational partners with global reach, providing access to capital and market opportunities to help startups scale globally. Hub71 offers a community of world-class investors looking to deploy capital into innovative startups and entrepreneurs to help them develop, scale and build transformational businesses. 

How did Hub 71 Support Abu Dhabi's Business?

Hub71 is a component of Abu Dhabi's larger initiative to support businesses to succeed in a global innovation ecosystem where the government has continually put in place frameworks that produce attractive incentives and a cutting-edge share structure.

The framework gives sponsors a smooth and quick procedure for coming out publicly with their businesses. As a result, Hub71 entrepreneurs will have a longer funding runway to seek an initial public offering (IPO) and exit.

Hub 71 - A crossroad of Enormous Opportunities

Hub71 continued to be a centre of potential throughout the epidemic. Hub71 has more than doubled its number of businesses in the last 18 months. Additionally, since the epidemic began, the number of venture capital (VC) partners has more than doubled. Currently, there are 19 investors, ranging from early-stage investors to larger ticket prospects, who have committed a total of USD 2 billion.

With a stronger emphasis on strategic initiatives that encourage collaborations between the public and business sectors, Hub71 has made significant progress. 

Since its inception, Hub71's startups have raised Dhs1.5bn of investment and landed deals worth Dhs36m through the tech ecosystem's corporate partners while generating approximately Dhs1.2bn in revenue.

The Never-Ending Journey of Hub 71

The significance of Hub71 is still growing. A recent Memorandum of Understanding (MoU) between Hub71 and the Abu Dhabi Department of Culture and Tourism (DCT) was signed in November 2021. It made both parties dedicated to advancing culture and tourism via technological advancement. The current vision of the DCT is to employ digital transformation to improve consumer experiences.

The DCT will set up a presence in Hub71, and it will help identify and collaborate with startups to advance tourism. The partnership with Hub71 will enable us to widen the net of potential startups that we could collaborate with, maximising the capacity to find the right solution that will work for the emirate as it promotes the destination locally and internationally.

While reading the above-mentioned points, if you wish to start a business in Abu Dhabi, then learn about the company formation in Abu Dhabi.

Our Role

With years of knowledge and the right connections in Dubai, we at Business Setup Worldwide make it a time-saving process that is easy on your wallet. So, it would be wise to get in contact with us to learn more and realise your ambition.

FAQs

What are the procedures to be followed to set up a company in Abu Dhabi?

The procedures to be followed for setting up a company in Abu Dhabi are,

  • Select a business activity
  • Choose a legal structure
  • Find a trading name
  • Obtain a license
  • Open a bank account

Who issues a license in Abu Dhabi free zone?

The individual free zone authority issues license in Abu Dhabi free zone.

How often does it take to get a business license in Abu Dhabi?

In most cases, the trade license may be issued within two to three business days.

List out the free zones in Abu Dhabi.

The free zones in Abu Dhabi are,

  • Abu Dhabi Airport Free Zone 
  • Industrial City of Abu Dhabi 
  • Masdar City Free Zone 
  • Abu Dhabi Global Market 
  • Twofour54 Abu Dhabi
  • Higher Corporation for Specialized Economic Zones 
  • Khalifa Industrial Zone Abu Dhabi 
  • Khalifa Port and Industrial Zone

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