Tuesday, 02 January 2024 12:17 GMT

Hub71 Pours Into AI With Record-Setting Cohort


(MENAFN- The Arabian Post) decoding="async" alt="" border="0" width="320" data-original-height="667" data-original-width="1000" src="https://cdn.prod.website-files.com/64196e4ee065344ff6b85f9c/65aac61b0f1728f729689cd9_Hub71-Logo-Membership.png" onerror="this.onerror=null;this.src='https://thearabianpost.com/assets/aparab-news-post.jpg?v3';" />

Abu Dhabi's Hub71 has just onboarded its most AI‐centric cohort yet, inviting 26 startups that have collectively raised more than USD 223 million-marking the highest funding milestone in the initiative's history, a testament to growing investor confidence and Abu Dhabi's elevated position in the global AI landscape.

The majority of this intake-over eighty per cent-are AI‐driven ventures focused on tackling high‐impact challenges across HealthTech, FinTech, and ClimateTech. Their arrival not only aligns with the emirate's drive for economic diversification but also underscores its ambition to act as a strategic launchpad for applied artificial intelligence.

More than two thousand applications vied for entry into Cohort 17, from which these 26 innovators were selected. They represent 12 countries, including the US, UK, Singapore, France, Canada, Egypt, and India, with approximately three‐quarters headquartered outside the UAE-a reflection of Abu Dhabi's growing appeal for founders seeking capital, market access, and global reach. Most of the cohort comprises early‐stage businesses, aligning with the ecosystem's mission to support seed‐stage scaling.

At the helm of this initiative is Hub71+ AI, the specialised ecosystem launched earlier this year and backed by AI71, Core42, Amazon Web Services, and Google for Startups. It serves as the connective tissue, enabling cross‐sector collaboration and accelerating innovation across artificial intelligence applications.

Hub71's CEO, Ahmad Ali Alwan, emphasised that the new intake“reflect the ambition and calibre of founders we are welcoming into our community”. He added that their decision to scale from Abu Dhabi highlights the ecosystem's strength and its role as a global innovation launchpad.

Standout participants include Harmonic Discovery, a US‐based biotech firm using AI to develop precision therapies targeting complex diseases such as sickle cell disease, which comes with USD 8.5 million in funding. Planys Technologies from India brings autonomous underwater robotics and sensors for infrastructure inspection, backed by USD 7.2 million.

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Climate‐focused innovation is also prominent: SunGreenH2, based in Singapore, is developing high‐efficiency electrolysers for green hydrogen production and has raised USD 6.6 million. Meanwhile, Resolv Labs in the UAE offers a crypto investment platform and has secured USD 12.5 million under the Hub71+ Digital Assets stream.

Selected startups join Hub71's Access programme, which provides up to AED 500,000 in cash and in‐kind incentives. After a year, top performers may qualify for a follow‐on support package of up to AED 1 million. This is complemented by access to Abu Dhabi's market, investor networks, and talent pool-bridging the gap between pilot and commercial scaling.

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