Abu Dhabi, United Arab Emirates: Following a recent announcement from Ghadan 21 that aims to bolster private sector growth in Abu Dhabi, Hub71 has announced today the strategic decision of four startup pioneers to set up a presence with the majority of their development and engineering capabilities at Hub71 in Abu Dhabi.
The startups include UAE-based BitOasis, the largest digital asset exchange platform in the Middle East, Lamsa, an award-winning Arabic language learning app, US-based Surkus, the world’s most powerful experiential marketing tech platform and Bayzat, an insurance and HR tech startup, who will all start operations at Hub71 over the coming weeks.
These firms will make up the first cohort of startups at Hub71 to qualify for early admission and are to benefit from Hub71’s generous incentive packages which includes heavily subsidized housing, office space and health insurance plans for the founders and their employees. The packages, which will save startups up to AED 3.5 million of non-dilutive capital, are designed to help firms invest their available capital on growing their businesses and attracting high-quality engineers. All four startups are planning their next phase of growth, and through Hub71 they will gain access to a global network of interconnected business enablers and industry partners.
Hub71, strategically located in Abu Dhabi Global Market Square on Al Maryah Island, is powered by Mubadala, Microsoft, Abu Dhabi Global Market with the backing of the Ghadan 21 program, which is working to accelerate the Abu Dhabi economy. The tech hub aims to foster startup success, innovation and growth and is uniquely positioned to bring together government entities, corporations, academics and startups.
Mahmoud Adi, CEO of Hub71, commented: “We are thrilled to have four ground-breaking startups, Lamsa, Surkus, BitOasis and Bayzat, as part of Hub71’s community of founders. Abu Dhabi is fast becoming known as a launchpad for growth where tech innovators can turn bright ideas into reality through its great infrastructure, support and access to a wider global ecosystem. We hope to inspire more pioneering startups to Abu Dhabi over the coming months with breakthrough technologies that disrupt industries and sectors.”
BitOasis, launched in 2015 by Jordanian founder Ola Doudin, plans to enter new markets like Saudi Arabia and launch new digital asset products as it scales its presence in Hub71.
Ola Doudin, Co-founder & CEO of BitOasis, said: “We’re very glad to become part of Hub71’s growing tech community. Hub71 provides a great platform for scale and adds value to our business. As a tech disruptor building new infrastructure in the fintech space, it is essential for us to work closely with the right partners who understand our technical requirements as well as be able to support our global growth plans.”
Established in 2013, Lamsa is the first-of-its-kind educational entertainment app for children in the Arab world. Today, Lamsa has garnered more than 16 million downloads and is ranked number one on Google Play and the App Store in the ‘Family & Kids Category’ across more than ten Arab markets.
Badr Ward, CEO of Lamsa said, “We are on a mission to be the leading Arabic language education platform for children across the world. We strive to satisfy the ever-evolving expectations of young and attentive audiences by bringing ingenuity, creativity, and continuous research and development. We’re pleased to implement our growth strategy to go global from Hub71 as it allows us to collaborate with like-minded innovators from around the world. Hub71 truly differentiates itself not only by having state-of-the-art facilities and programs, but also by being a globally interconnected platform.”
US-based Surkus, considered to be the most powerful experiential marketing technology platform in the world shares more on its aggressive growth plans for Asia, Africa and the Middle East.
Stephen George, CEO of Surkus said, “We couldn’t be more excited about our acceptance into the Hub71 program. This gives us great confidence as we plan for further expansion throughout the region and other global markets. We believe Abu Dhabi is on its way to becoming a global technology hub for international startups to base their operations. The support Hub71 is offering around infrastructure, flexible regulatory framework, legislative regimes, as well as quality of life, proved to be an extremely important differentiator when deciding where to anchor our operations. We look forward to realizing the dreams that the Hub71 team are working so hard to build out.”
Bayzat is a UAE-based tech startup that offers a cloud-based platform which automates insurance and HR administration, payroll and benefits at no cost to SMEs. Using cutting-edge technology, Bayzat is committed to delivering a world-class employee experience accessible to every SME.
Talal Bayaa, CEO and Co-Founder of Bayzat said, “We’re excited to contribute to Abu Dhabi’s innovation landscape and knowledge-based economy. Given that Bayzat is at ‘Series B’ growth stage, our expansion is a testament to Hub71, both in terms of its dedication to supporting tech companies across its entire lifecycle, and for providing an incredibly strong and compelling value proposition.”
Abu Dhabi is fast becoming a destination of choice for tech startups with Hub71’s incentive packages and global accelerator partners – Techstars, Starburst and Plug and Play ADGM in action. Through Hub71’s strategic partnerships, network of investors and access to policymakers and regulators, Hub71 is in a unique position to ensure that startups succeed in the region and across the globe. Formal applications for Hub71 residency will open September 2019.