Hub71 boosts collaboration with Saudi Arabia’s Digital Ecosystem to promote Startups and Digital Innovation
- Three-year agreement to increase market opportunities for global startups seeking to scale up in the MENA region from the thriving tech ecosystems of Abu Dhabi and Saudi Arabia
- Tech entrepreneurs and startups will benefit from shared networks and access to corporate partners, investors and mentorship, fostering international knowledge-exchange and talent growth in UAE and Saudi Arabia
- MoU signed by Hanan Harhara Al Yafei, CEO at Hub71 and His Excellency Ibrahim Al-Nasser, Director General of The Digital Innovation Center aims to allow bilateral access to Abu Dhabi and Saudi Arabia’s respective growing startup communities
October 19 2020, Abu Dhabi, United Arab Emirates: Hub71 and the Ministry of Communications and Information Technology’s (MCIT) Digital Innovation Center struck a new strategic partnership to increase collaboration that drives digital innovation and tech entrepreneurship between the UAE and Saudi Arabia.
The three-year agreement aims to foster international knowledge exchange and talent growth in the UAE and Saudi Arabia, in addition to supporting and enhancing the growth of entrepreneurs and startups in the MENA region and beyond.
The Digital Innovation Center at the Ministry of Communications and Information Technology is a key pillar of Saudi Arabia’s digital infrastructure. It supports the nation’s digital startup community, fostering economic development and job creation for Saudi youth in line with the Kingdom’s Vision 2030.
Entrepreneurs in Abu Dhabi and Saudi Arabia will have joint access to Hub71 and Digital Innovation Center’s extensive network of corporate partners, mentorship networks, and international expertise. Additionally, training courses and workshops will facilitate the exchange of knowledge and digital expertise in advanced technology between the two tech hubs.
Hub71 and The Digital Innovation Center will also offer full support in obtaining the necessary licenses to ease the process of establishing new tech startups in the UAE and Saudi Arabia, giving entrepreneurs access to a cohesive and collaborative tech ecosystem that supports tech companies and future leaders.
Hanan Harhara Al Yafei, CEO at Hub71, said: “Partnering with The Digital Innovation Center at MCIT opens the door even wider to the lucrative Saudi market for our fast-growing startup community.
“Equally, our new strategic partnership will make it easier for Saudi entrepreneurs to advance their knowledge and capabilities in the tech sectors driving forward our burgeoning tech ecosystem in Abu Dhabi.
“By extending our growth platform of investors, corporate partners and digital infrastructure, we can support entrepreneurship that drives transformative technologies and helps future-proof our economies.”
Ibrahim Al-Nasser, General Manager, Digital Innovation Center commented: “As a key pillar of Saudi Arabia’s digital infrastructure and the main ecosystem player in the development of ICT entrepreneurship, our priority is to stimulate innovation and opportunities for entrepreneurs to put their best foot forward in scaling their businesses.
“With this is in mind, we want future generations to have access to a leading tech hub that shares our ambition in driving forward our digital transformation. Ultimately, playing a key role in developing advanced technologies will make a phenomenal impact to our future economy in line with the Saudi Vision 2030.”
Through the partnership, Saudi-based startups will gain priority access to the Hub71 Incentive Program, which offers seed companies 100 percent free housing, office space and health insurance for two years and 50 percent subsidies for three years for emerging companies, worth approximately AED 3 million (USD 800k).