One of the most developed ecosystems in Abu Dhabi is Hub71 which is a platform that provides high tech and well-developed programs to assist startups in the business field. It is the most powerful and leading incubators in Abu Dhabi. The company has recently had a lot of deals and movements that helps them deliver their intended work in a better fashion. Hub71 is a body created as a joint venture between Mubadala Investment Company, Abu Dhabi Global Market, Microsoft and SoftBank, which are all the leading companies in the world.
Adding to their success deals, recent news show that the body has landed a deal with MIT that will change the whole incubation cycle. This new partnership is with MITEF Pan Arab which holds one of the strongest competitions in the Arab region for tech startups known as MIT Enterprise Forum Pan Arab.
This was commented on by Mahmoud Ali, which is the current head of Hub71 by saying, “With Hub71’s unique combination of access to capital, local and global networks, and major technology and business partners coupled with an attractive regulatory environment, we can make that next step easier. Since we started in 2005, MITEF Pan Arab contributed to shifting the mindset of thousands of Arabs towards entrepreneurship and innovation. It is “harder” to find pathways to scale a start-up in the region.”
The deal focuses on the use of the Alumni of the MIT program to help be part of the incubator, helping potential future tech startups.