Hub71 teams up with Techstars for accelerator program
Techstars Hub71 Accelerator to help startups develop business models and attract funding
Abu Dhabi-based Hub71 has announced a partnership with start-up network Techstars to launch a new accelerator programme in the Emirate. Techstars Hub71 Accelerator Program will identify a class of ten startups that will then undergo a 13-week program that will conclude with an investor Demo Day with the opportunity to receive funding to grow their businesses. Applications for the program open today.
The program is designed to help startups from different sectors improve their products, gain access to customers, build traction via mentorship, investment, and practice pitch sessions. The program serves as an opportunity for startups to accelerate their business model and expose their ideas to well-connected global investors.
“We are positive that this program will attract global founders with exceptional ideas and talent to the capital. Not only will startups benefit from high-calibre mentorship and exposure to global investors, founders will also have the opportunity to join a network of very successful and respected Techstars alumni,” said Ahmad Alwan, head of strategy and corporate development at Hub71.
Hub71 taps into the Abu Dhabi’s government's Ghadan 21, the $13.6bn stimulus package to provide jobs, boost SMEs that was announced last year.
“We will leverage our global network of over 10,000 mentors and 300,000 alumni across 150 countries to support these start-ups, as well as Hub71’s infrastructure, world class facilities and affiliate entities like Mubadala and the Abu Dhabi Government. This is the perfect opportunity for Techstars to continue building momentum in the region and develop a culture of innovation and entrepreneurship in Abu Dhabi in partnership with Hub71,” said Vijay Tirathrai, Techstars Hub71 accelerator managing director.
Applications for the program open until October 13, 2019. The program starts January 2020 and will conclude with a Demo Day in mid-April.