Abu Dhabi’s Hub71 has selected 40 startups for its 19th cohort, the largest in the technology ecosystem’s history, after receiving 2,502 applications from 117 countries.
The selected companies come from 14 countries and have raised a combined $296M. International startups account for 88% of the cohort, while the acceptance rate was 1.6%.
All 40 startups will join Hub71’s 12-month Access programme. Twelve will enter its general track, while 19 will join specialised programmes focused on digital assets, climate technology and life sciences. Six startups were selected for Anjal Z, a programme supporting early childhood solutions, and three will join the track linked to Abu Dhabi’s Smart and Autonomous Vehicle Industry cluster, or SAVI.
More than two-thirds of the startups operate in Hub71 priority sectors, and 90% use artificial intelligence as a core part of their technology. Six companies are at Series A, up from two in the previous cohort.
Examples include UK-based TurinTech AI, which has raised $15M for AI-powered software engineering, and US-based Remarkable AI, which has raised $14M for an AI platform serving ecommerce brands. UAE-founded Mosadad also joins after raising $540,000 in pre-seed funding to streamline motor insurance claims and payments.
The cohort brings Hub71’s startup base to 644 companies. Participants will receive tailored mentorship, expert workshops, access to investors and corporate and government partners, and support of up to AED 500,000.
Source: Fintech Gate
