Mon 02-11-2020 12:27 PM
ABU DHABI, 2nd November, 2020 (WAM) -- Hub71, Abu Dhabi’s global tech ecosystem, today announced the latest cohort of startups selected to join its rapidly growing startup community, with an increasing number of startups led by female founders.
The successful startups, chosen from hundreds of applicants, will benefit from Hub71’s Incentive Programme, which reduces the cost of living and business set up costs for entrepreneurs seeking to expand their businesses in the region.
For its third cohort of the year, Hub71 selected 19 new startups with headquarters in nine countries, specialised in 11 sectors, including AI and Big Data, EdTech, AgriTech and HealthTech. These sectors accounted for 30% of applications received, reflecting the demand for these technologies in response to the pandemic and to service future digitalized industries. The new cohort also includes 30% of businesses founded by women, marking a growing number of female founders choosing to immerse themselves in Hub71’s diverse and vibrant community.
The successful startups include: Swiss-founded 1702ai, the accurate SaaS Weapon Detector that utilises existing security cameras, powered by the latest AI and Deep Learning algorithms; UAE-based Mental, a virtual reality platform that enables companies to simulate the work and training environment from anywhere in the world; and British-founded Algocyte, the first self-monitoring blood count home device that uses AI to analyze blood within five minutes.
It also includes: UAE and female founded WhiteBox HR, creates predictive insights, bias free, at every stage of the talent lifecycle to simplify the process for companies to decide who to hire, engage, or retain; and Egyptian and female founded Yanzo, a virtual assistant that can be used to book, buy, find, and deliver services whether its for shopping, running errands and making travel arrangements.
Since its launch in March 2019, Hub71 has grown its startup community to more than 75 global startups benefiting from Hub71’s extensive resources, global reach and community access.
Hanan Harhara Al Yafei, CEO of Hub71, commented, "The diverse nature of our latest cohort of Hub71 startups reflects our commitment to boosting Abu Dhabi’s global appeal as a world-leading tech hub suited to the best and brightest startups from around the world.
"Each successful startup has demonstrated remarkable resilience during the pandemic, either pivoting or striving tirelessly to meet their customers’ needs during unprecedented times, and I am particularly pleased to see that almost half of the intake are UAE-based, and increasingly female entrepreneurs are finding a home within our community to make their businesses soar.
Hasna Ahmed, Founder and CEO of DoctorsAE, added, "As an Emirati-owned HealthTech startup, joining the Hub71’s global ecosystem was the best place for our innovative business to succeed and inspire. What attracted us most are the opportunities presented by Hub71 and becoming part of one of the world’s most powerful technology hubs where growing tech companies like ours would be given the chance to expand and scale globally.
"Being based in Abu Dhabi gives us an edge, as it has continuously proved to the world that it is among the best places to live in terms of quality of life, along with the added benefit of expanding into the MENA region and globally. Doctors Group Ltd.’s advocacy has always been to build a better future through technology. We envisioned ourselves to contribute to the UAE’s aim of being a world leader and through Hub71, we were able to reach the Egypt market, allowing us to fulfill our mission and enhance people's wellbeing by promoting a healthier environment, in mind, body and soul."
Each quarter, Hub71’s Selection Committee chooses the most promising startups that meet its criteria to join the global tech ecosystem’s incentivised community, which offers equity-free subsidies including up to 100 per cent free housing, health insurance and WeWork x Hub71 office space for up to three years.