Business

First four start-ups to join Hub71 announced

First four start-ups to join Hub71 announced

Abu Dhabi. Hub71 on Tuesday announced that four start-up firms would soon be joining the new technology hub at Abu Dhabi Global Market.

The start-ups include UAE-based BitOasis, the largest digital asset exchange platform in the Middle East, Lamsa, an award-winning Arabic language learning app, US-based Surkus, the world’s most powerful experiential marketing tech platform and Bayzat, an insurance and HR tech start-up.

The firms will all start operations at Hub71 over the coming weeks and make up the first cohort of start-ups at Hub71 to qualify for early admission and are to benefit from Hub71’s incentive packages which includes heavily subsidised housing, office space and health insurance plans for the founders and their employees.

The packages, which will save start-ups up to Dh3.5 million of non-dilutive capital, are designed to help firms invest their available capital on growing their businesses and attracting high-quality engineers.

All four start-ups are planning their next phase of growth, and through Hub71 they will gain access to a global network of interconnected business enablers and industry partners.

“Abu Dhabi is fast becoming known as a launch pad for growth where tech innovators can turn bright ideas into reality through its great infrastructure, support and access to a wider global ecosystem. We hope to inspire more pioneering start-ups to Abu Dhabi over the coming months with breakthrough technologies that disrupt industries and sectors,” Mahmoud Adi, CEO of Hub71 said in a statement.