Abu Dhabi's Hub71 Set To Launch Techstars Accelerator Program And WeWork In 2020
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Hub71, an initiative under the Ghadan 21 program that seeks to enhance the competitiveness of Abu Dhabi’s economy at a global level, will be enabling the launch of two new entities in the first quarter of 2020, the Techstars Hub71 Accelerator Program and WeWork coworking space.
The Techstars Hub71 Accelerator Program will start in January 2020, delivering immersive workshops and pitch training sessions to 10 globally selected startups and concluding with a demo day in mid-April. The currently on-going application process for interested startups will close on October 13, 2019.
“We will leverage our global network of over 10,000 mentors and 300,000 alumni across 150 countries to support these startups, as well as Hub71’s infrastructure, facilities and affiliate entities like Mubadala and the Abu Dhabi Government,” said Vijay Tirathrai, Techstars UAE accelerator managing director. “This is the perfect opportunity for Techstars to continue building momentum in the region and developing a culture of innovation and entrepreneurship in Abu Dhabi in partnership with Hub71.”
With this partnership, the American seed accelerator will continue its operation in the UAE. Initially, Techstars launched its first accelerator project in 2017 in Dubai, where it ran two programs focusing on the theme of smart cities. However, their focus at Hub71 will be much broader, including topics of artificial intelligence, analog/digital interface, blockchain, cybersecurity, and more. Techstars intends to continue its Dubai-based accelerator program at some point in the future, the Techstars team stated when contacted by Entrepreneur Middle East.
Hub71 will also be home to the global chain of co-working spaces, WeWork, which is expected to open its door in the capital, and the whole of the UAE, in early 2020. Founded in 2010, WeWork offers innovative workspaces designed for entrepreneurs, startups and technology companies. It currently has 466,000 members around the world. In the UAE, WeWork will offer hot desks, private office spaces, and other membership plans, starting at US$ 400 (AED1,470) per desk per month.
“WeWork shows that Abu Dhabi is ready to welcome global tech talent, international startups and founders from all parts of the globe,” said Mahmoud Adi, CEO of Hub71. “With a macro shift towards collaborative and adaptable ways of working, WeWork has become a leader in workspace solutions. Not only does WeWork build inspirational spaces, but also provides networking opportunities, as well as formal and informal events and programming.”Related: Five Reasons Why Structured Mentoring Can Accelerate Startup Growth