Hub71’s new cohort: $53M funding boost

As part of its most recent cohort, Hub71, <a href="https://markelitics.com/wio-bank-and-hub71-for-abu-dhabi/" rel="noopener ugc nofollow" target="_blank">Abu Dhabi’s</a> global digital ecosystem, has welcomed 23 new entrepreneurs that have raised a total of over $53 million in funding. The 23 firms who made it through the strict screening process will now participate in Hub71’s new Company Building Programme, where they will get AED 250,000 in cash for equity along with up to AED 250,000 in in-kind incentives. After a year, high-performing firms from the most recent cohort can additionally earn a top-up of up to AED 250,000 in exchange for more stock. Hub71 experienced a 107% surge in applications from more than 100 countries, highlighting Abu Dhabi’s growing appeal as a cutting-edge hub for global <a href="https://markelitics.com/inclusive-finance-for-ethnic/" rel="noopener ugc nofollow" target="_blank">business </a>leaders. The new group of investors includes tech firms from the UAE, Egypt, and Saudi Arabia in addition to businesses from the UK, Canada, India, and Armenia that plan to set up shop in Abu Dhabi. <a href="https://medium.com/@markelitics2022/hub71s-new-cohort-53m-funding-boost-50cb41c756aa">Read More</a>