Stock HUB 71 Abu Dhabi
Al Maryah Island is where Abu Dhabi's startup ecosystem Hub71 operates from. The new alliance with its counterpart in Saudi Arabia will be a win-win. Image Credit: Gulf News Archive

Dubai: Abu Dhabi's startup cluster Hub71 and Saudi Arabia's Digital Innovation Centre have forged a three-year deal to boost entrepreneur activity in these marketplaces. The partners will also offer support in obtaining the necessary licenses to ease the process of establishing new tech startups.

Entrepreneurs in Abu Dhabi and Saudi Arabia will have joint access to Hub71 and Digital Innovation Center’s network of corporate partners and mentorship expertise. Additionally, training courses and workshops will facilitate the exchange of info and digital expertise.

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“Our new strategic partnership will make it easier for Saudi entrepreneurs to advance their knowledge and capabilities in the tech sectors driving forward our burgeoning tech ecosystem in Abu Dhabi," said Hanan Harhara Al Yafei, CEO at Hub71.

Through the partnership, Saudi-based startups will gain priority access to the Hub71 Incentive Program, which offers seed companies 100 percent free housing, office space and health insurance for two years, and 50 per cent subsidies for three years for emerging companies, worth approximately Dh3 million.

“We want future generations to have access to a leading tech hub that shares our ambition in driving forward our digital transformation," said Ibrahim Al-Nasser, General Manager, Digital Innovation Center, which comes under Saudi Arabia's Ministry of Communications and IT.