The programme, called 'The Outliers', seeks to sustain the healthy Abu Dhabi ecosystem that ensures smooth access to capital for startups.
Abu Dhabi tech ecosystem, Hub71, has announced a partnership with the Abu Dhabi Investment Office (ADIO) which will see them support on-the-rise tech startups in expanding their teams and scaling their businesses, with the aim of spurring a wider societal impact.
The partnership is central to Hub71’s new programme, ‘The Outliers’, which pushes global startups to collaborate with leading corporations and government agencies in Abu Dhabi in order to address and overcome operational challenges. ADIO’s Innovation Programme fits in well with its Hub71 partnership as it seeks to reinforce Abu Dhabi’s commitment to sustaining a healthy environment that allows for startups to gain access to capital, as well as incentives from both the public and private sectors.
During a demo day, existing Hub71 companies pitched for cash grants by ADIO, and after a rigorous screening process, 10 startups were selected to become beneficiaries of grants worth over AED 10 million ($2.7 million), to help accelerate the development of their innovative solutions.
Interim CEO of Hub71 and Head of Ventures and Growth at the Mubadala Investment Company, Ibrahim Ajami, said: “We are committed to supporting tech startups by leveraging the network of partners that back our mission and strive to provide opportunities to access funding or grants.”
“Capital,” he elaborated, “is an instrumental enabler that unlocks our startups’ growth. The Outliers paves the way for startups with proven products to work alongside our corporate and government partners to help them integrate innovation into their business models. Now is the time to apply for The Outliers and get the backing of powerful entities that want to help startups develop sustainable POCs [proof of concept] that can go-to-market. It is initiatives like these that clearly showcase the benefits of public-private partnerships that is a staple within the unique environment of Abu Dhabi.”
Startups worldwide have until Thursday, 1st July to apply for the programme at www.theoutliers.hub71.com/