Abu Dhabi’s global tech ecosystem, Hub71, has entered a strategic partnership with the Emirates Growth Fund (EGF), signing a Memorandum of Understanding (MoU) designed to accelerate the development of SMEs and growth-stage companies within the UAE.
The agreement, signed during Abu Dhabi Finance Week by Hub71 CEO Ahmad Ali Alwan and EGF CEO Khalifa Al Hajeri, establishes a collaborative framework to enhance private sector growth and support the nation’s economic diversification goals.
A Strategic Alliance for Growth
The partnership aims to create a powerful synergy between Hub71’s vibrant ecosystem of high-performing tech companies and EGF’s growth equity platform. By working together, the two entities will focus on improving the performance and scaling trajectory of promising local enterprises.
This collaboration will concentrate on three core areas: deploying growth capital to fuel expansion, creating new commercial pathways for market access, and enhancing the operational readiness of portfolio companies to compete on a larger scale.
Leadership Commentary
Khalifa Al Hajeri, CEO of EGF, highlighted the combined strength of the partnership.
“By combining our respective strengths, we are empowering SMEs and growth-stage companies to scale, compete, and contribute meaningfully to the nation’s diversified growth agenda.”
Ahmad Ali Alwan, CEO of Hub71, emphasized the comprehensive support system the MoU creates for founders.
“Our partnership with EGF brings together Hub71’s founder-focused ecosystem with EGF’s growth capital and support for UAE-based companies. By combining our mentorship, programmes, and network access with EGF’s scale-up capital, we can give high-potential ventures the pathway and confidence to grow sustainably.”
About Hub71
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring companies in any sector. It provides access to a global network of partners, a community of founders, and a platform that facilitates tangible business opportunities to support startups on their growth journey.
About Emirates Growth Fund (EGF)
The Emirates Growth Fund (EGF) is a fund established by the Emirates Development Bank (EDB) to provide direct financing solutions to UAE-based SMEs and startups. It plays a pivotal role in supporting the UAE’s economic diversification strategy by investing in key priority sectors and helping promising companies scale their operations.
Source: Fintech News AE
