Hub71 announces new Corporate Engagement Program
Hub71 is rolling out a new Corporate Engagement Program and strategy to provide corporates with access to high growth startups transforming their sectors and enabling startups with access to major corporates as customers. The innovation team of the corporate partners will be part of the ecosystem at the newly launched WeWork Hub71 community located in Abu Dhabi Global Market.
The program will act as a bridge between major corporates and startups that are looking to transform industries and address major problems and pain points in their industries. This program aims to reinforce the importance of synergistic co-creation between businesses and startups by providing founders with access to local market insights, expertise, a platform to test their ‘proof of concept’ and to eventually design market-fit products. The unique Hub71 Corporate Engagement Program also allows corporates to create partnerships with agile startups to innovate on their business models by creating pilots and opportunities for collaboration.
Hub71 kicked off the program by signing two MoUs with Aldar and ADCB. Global startups looking to succeed in this market will benefit from the scale, experience, and regional market knowledge of these corporate leaders. Corporates will simultaneously gain unmatched access to Hub71’s global cache of startups, VCs and accelerator programs.
Ibrahim Ajami, Head of Ventures - Mubadala Capital and Acting CEO of Hub71, said: “Technology continues to transform the corporate landscape and we are seeing major corporations digitize their businesses like never before. Corporations play a major role in acquiring startups to continue to grow their businesses and this can serve as an opportunity for corporates to identify key targets for their strategic agendas. Aldar and ADCB are two leaders in our region that recognize the importance of working very closely with technology startups and looked to Hub71 as a partner to do this.”
Hub71 is a flagship initiative of the AED 50 billion economic accelerator program ‘Ghadan 21’ and was launched in early 2019 to provide Abu Dhabi with a new global tech ecosystem. It is a key enabler to help startups succeed in the region, while working alongside strategic partners such as Mubadala, Softbank Vision Fund, Abu Dhabi Global Market and Microsoft.