Tue 21-04-2020 10:42 AM
ABU DHABI, 21st April, 2020 (WAM) -- Abu Dhabi’s Hub71, the tech ecosystem powered by Mubadala, has been selected by the top US data residency hosting platform, InCountry, to be the home of its Middle East headquarters.
This new development marks a strategic move to capitalise on the UAE’s growing cloud market, which Gartner predicts is set to increase by 21 percent year on year.
Active in over 70 countries, InCountry boasts a long list of strategic international investors including Mubadala Capital - Ventures. The tech startup company builds infrastructure for companies to ensure data protection within regulatory frameworks and jurisdictions.
Ibrahim Ajami, Head of Ventures, Mubadala Investment Company and Interim CEO of Hub71, commented, "Our investment in InCountry provides us with access to a dynamic cloud player which provides a unique data residency service, with massive global potential. A key pillar of Mubadala Capital’s ventures’ strategy is to leverage its international network and bring innovative portfolio companies to Abu Dhabi.
"The fact that InCountry has taken the decision to join Abu Dhabi's Hub71 - is testament of resilient tech ecosystems that are able to weather the storm during major macroeconomic upheaval. We look forward to supporting InCountry as they expand their presence across the MENA region."
The San Francisco-based data residency-as-a-service platform has recently experienced rapid growth due to the growing data-sovereignty needs of multi-national organisations all over the world. With new data protection regulations expected to be introduced in the UAE in the near future, InCountry is well placed to offer innovative and scalable solutions for the local and regional market.
Peter Yared, CEO and founder of InCountry, said, "The Middle East region has quickly become our top market and we are fortunate to have received such tremendous support from our partners in the region. Our philosophy of respecting each country’s data residency regulations and sovereignty, while enabling companies to adopt the latest cloud software, has really resonated in the Middle East. I’m pleased to establish our regional headquarters in Abu Dhabi’s Hub71 to take advantage of its holistic tech ecosystem – providing us with greater market access, world-class talent and flexible regulatory frameworks enabling us to better serve our customers."
InCountry already runs hosting facilities in the UAE, Egypt, and other countries in the region, and is deepening its hosting arrangements in Saudi Arabia by developing a co-location agreement with the Saudi Telecom Company.
It will be established as a regional subsidiary in Abu Dhabi Global Market and located within the WeWork x Hub71 community with over 36 global tech startups, corporates, accelerators, tech companies and venture capital firms.