Hub7, GetFundedAfrica to increase fundraising support for startups
Officials of Hub71 and GetFundedAfrica after signing the agreement.
Announced during Gitex Global 2022 in Dubai, the new cross-border programme aims to provide a soft-landing for Hub71 startups seeking to expand into Africa, and for startups in the continent seeking to penetrate the UAE and the Middle East region from Abu Dhabi.
From receiving local company setup assistance to licensing and bank account opening, startups will gain support from both Hub71 and GetFundedAfrica with introductions to potential customers and investors through their respective networks of corporate partners and investment funds.
Hub71 shares a mission with GetFundedAfrica to nurture the growth of high potential startups by building a vast ecosystem to help ease the journey for founders to successfully close funding rounds and expand into new markets to scale disruptive businesses.
The partnership also aims to enhance Hub71’s ability to identify and attract Africa’s most promising startups while offering founders in its vibrant community referrals to GetFundedAfrica as a dedicated entry point to the African marketplace.
Additionally, UAE startups will be able to utilise the Ogun Technology Hub as a soft-landing entry point into sub-Saharan Africa. Deepening the talent pool, both Hub71 and GetFundedAfrica will also provide startups with access to local universities to unlock young and highly skilled talent in their respective markets.
Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Forming a partnership with a dynamic organisation like GetFundedAfrica reinforces our commitment on enabling startups to expand from Abu Dhabi into new high-growth markets in Africa. This new partnership facilitates cross-border investments, enables access to competitive and highly skilled talent, and brings new opportunities in untapped markets that are at the advent of technological transformation.”
Debo Omololu, CEO & Co-Founder of GetFundedAfrica commented “The partnership with Hub71 helps African companies become global players leveraging a global ecosystem developed in Abu Dhabi. On the same note, UAE based companies are able to access opportunities in Africa through a transparent cross-border ecosystem developed by GetFundedAfrica. Partnerships like this pave the way for long-term growth in our mutual economies”
At Gitex 2022, Hub71 and GetFundedAfrica hosted a panel alongside Khalifa Fund to discuss how collaboration between tech ecosystems in the Mena region and Africa can help accelerate startup growth in domestic markets.
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors.
Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build, and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development.
GetFundedAfrica’s mission is to uplift people and economies in Africa through entrepreneurship; helping companies find funding, corporate partners, and mentors, as well as grow, create jobs and solve Africa’s greatest challenges.
GetFundedAfrica has been able to achieve these by creating a technology platform that digitizes the startup ecosystem across Africa, connecting startups, investors, corporate organisations, advisors and Governments on one platform.
Meanwhile Hub71, Abu Dhabi’s global tech ecosystem powered by Mubadala, has appointed Ahmad Ali Alwan as the Deputy Chief Executive Officer.
The appointment reinforces Hub71’s senior leadership team with an experienced, talented local leader to help drive forward its long-term strategy and fulfil its global ambitions.
Hub71 is spearheading a strategy to build a global platform that grows startups at every stage. This includes enhancing the ability of founders to design, develop and deploy innovative products and solutions at scale to raise capital, secure customers, and grow sustainable technology companies across a broad range of sectors.
