Post by : Badri Ariffin

The Khalifa Fund for Enterprise Development, in collaboration with Hub71, has introduced the inaugural cycle of the MZN Hub71 Programme, engaging 17 Emirati founders who are at the helm of startups across crucial and innovative sectors.

Selected from over 370 submissions, the chosen startups underscore the heightened enthusiasm for entrepreneurship in the UAE. Spearheaded by the Khalifa Fund and implemented via MZN Hub Al Ain, this programme is designed to empower Emirati entrepreneurs by transforming visionary concepts into scalable enterprises.

This first group embodies a youthful and enterprising spirit, with almost 90% of participants under 35 years old and more than 75% embarking on their inaugural startup journey. Female entrepreneurs comprise 35% of the cohort, illustrating significant strides towards inclusive representation in the startup arena.

Demonstrating strong synergy among Khalifa Fund, Hub71, and their network partners, about 59% of the endorsed founders were introduced through affiliate organizations, emphasizing the robustness of the UAE’s evolving innovation landscape.

The startups are strategically aligned with Abu Dhabi’s economic goals, focusing on sectors such as HealthTech, ClimateTech, FinTech, and AgriTech, along with groundbreaking innovations driven by artificial intelligence.

His Excellency Khalifa Al Kuwaiti, Executive Director of Khalifa Fund’s Entrepreneurship Sector, noted that this initiative signifies the organization’s dedication to fostering Emirati entrepreneurship and fortifying the next generation of local enterprises.

He emphasized that MZN Hub Al Ain offers a distinct trajectory for founders to evolve ideas into prosperous businesses, providing mentorship, networking, and readiness support to enhance their global competitiveness.

Ahmad Ali Alwan, CEO of Hub71, affirmed that this programme showcases the growing energy among Emirati founders in Abu Dhabi. He expressed pride in assisting early-stage entrepreneurs in validating their ideas and establishing robust foundations for their businesses.

Over the three-month span at MZN Hub Al Ain, founders will navigate various stages of startup evolution, from developing minimum viable products to market testing and launch preparation.

The initiative will culminate in a Demo Day, where participants will showcase their startups to investors, government entities, and strategic partners. This event is anticipated to foster opportunities for funding and collaborations, propelling commercial advancement.

Post-programme, founders will retain access to Abu Dhabi’s expansive innovation ecosystem, including access to capital, commercial opportunities, and strategic advice to facilitate global business scalability.

The partnership between Khalifa Fund and Hub71 aims to bolster Abu Dhabi’s long-term startup landscape, nurturing the growth of internationally competitive Emirati enterprises.

#Global News #UAE News #Abu Dhabi News #Abu Dhabi