Abu Dhabi’s thriving tech ecosystem sees record funding, revenue growth, and expansion, signaling the UAE capital’s fast-rising stature as a global tech hub.
In just six years, Abu Dhabi’s Hub71 has transformed from an ambitious experiment into a powerhouse of innovation, attracting founders, investors, and global tech giants, with startups under its umbrella raising a record $2.17 billion in 2024.
This milestone, captured in Hub71’s recently released 2024 Impact Report, marks a 44.7% year-on-year funding surge, further underscoring investor confidence in Abu Dhabi’s maturing innovation economy. With $1.2 billion in startup revenue and 91 corporate deals signed across government and private sectors, Hub71’s impact is now being felt well beyond the Gulf.
“Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi,” said Ahmad Ali Alwan, CEO of Hub71. “That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact.”
The ecosystem’s specialist programs—Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI—have been instrumental in attracting startups solving global challenges. Startups in the Digital Assets program alone have raised over $100 million, while partnerships with Google, NVIDIA, Solana, and AWS are accelerating breakthroughs in Web3, AI, and renewable energy.
Key Highlights
- Hub71 startups include climate, AI, and health tech innovators with global reach
- $2.17 billion raised by Hub71 startups in 2024, up 44.7% from 2023
- $1.2 billion in startup revenue, reflecting strong commercial traction
- 3,100+ applications received from entrepreneurs across 20+ countries
- 91 corporate deals worth $28 million signed with public and private entities.
Hub71’s success mirrors Abu Dhabi’s rapid ascent in the tech world. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in MENA, with its value surging 28% to $4.2 billion between 2021 and 2023.
Capital access remains a cornerstone of Hub71’s strategy. In 2024:
- $65 million (AED 238 million) deployed by capital partners.
- New investors like Princeville Capital, The Catalyst, and Golden Gate Ventures joined.
- Tech Barza, Hub71’s exclusive capital club for family offices, saw a 10% membership increase and its first startup deal.
To boost early-stage funding, Hub71 launched the Angel Investor Support Package, empowering networks like Falcon Valley and Qora71 to facilitate seed-stage investments.
Hub71 Startup success stories
Several Hub71 startups made waves in 2024 with landmark funding rounds:
- FlapKap, a fintech firm offering AI-powered lending for SMEs, raised $34 million in pre-Series A funding to scale across the GCC.
- ClimateTech startup 44.01 secured $37 million to expand its pioneering CO₂ mineralization tech, which turns captured emissions into solid rock.
- HealthTech player BioSapien closed a $5.5 million round to advance trials for its MediChip, a 3D-printed implant delivering localized cancer treatment with fewer side effects.
These achievements reflect a broader theme: Hub71 is now home to startups with regional and global ambitions and impact.
“The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi’s long-term potential,” added Alwan. “As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.”
Global magnet for Tech Talent
Hub71 received over 3,100 applications in 2024 from entrepreneurs across more than 20 countries. Of the 46 startups selected, over 70% were international, with founders from the US, UK, and Germany making up nearly 63% of the latest cohort. More than half were in the Seed or Series A stages, highlighting a robust pipeline of early-stage innovation.
As global founders seek ecosystems that combine capital access with regulatory support and growth infrastructure, Abu Dhabi—via Hub71—is positioning itself as a compelling alternative to traditional tech hubs.
Strategic partnerships
Beyond funding, collaborations with government and industry leaders have been critical to startup growth. In 2024, Hub71 startups signed 91 corporate deals worth $28 million, demonstrating market appetite for emerging technologies.
At the heart of this momentum is the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA). The program has enabled startups to pilot breakthrough innovations in key sectors such as smart mobility, digital health, food innovation, and alternative proteins—turning Abu Dhabi into a real-world testbed for transformative technologies.
What’s next
With its rapid growth and bold ambitions, Hub71 is transforming Abu Dhabi into a powerhouse of innovation. The ecosystem’s focus on AI, ClimateTech, and global expansion positions it as a key player in shaping the future of tech—not just in the MENA region, but worldwide.
As Abu Dhabi doubles down on strategic investments in innovation, sustainability, and digital transformation, Hub71’s expanding footprint signals a new chapter for the emirate’s global ambitions. For startups and investors, Abu Dhabi is no longer just an emerging player—it’s the next big opportunity.
