Abu Dhabi’s global tech ecosystem, Hub71, has launched a new platform called ‘Hub71+ Digital Assets’ to advance Web3 and digital assets, with the deployment of over $2 billion in funding for Web3 startups and blockchain technologies. The platform is designed to support startups at all stages of development, and to help them scale globally through a range of programs and initiatives. Located in Abu Dhabi Global Market, the platform provides a regulatory environment with exceptional blockchain and virtual asset infrastructure.
FAB, the UAE’s largest bank, and its research and innovation center, FABRIC, are the anchor partners of the platform, offering their expertise to identify top Web3 startups and innovative technologies.
Ahmad Ali Alwan, Deputy CEO of Hub71, said: “Decentralisation is the future of a blockchain-based internet, and Web3 startups will play an immense role in accelerating this transition. Teaming up with ADGM, FAB and its research and innovation center, FABRIC, alongside the world’s leading Web3 companies and enablers under one roof will provide founders with an opportunity to fundraise, develop and commercialise innovations safely.”
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The platform will support startups to launch tokens and promote tokenisation as part of their fundraising journey. Hub71’s value creation program will also support Web3 startups at the ‘unicorn’ stage, with companies valued at more than $1 billion, to relocate to Abu Dhabi and grow in the Middle East and global markets.
The launch of Hub71+ Digital Assets supports the UAE Digital Economy Strategy, which aims to double the contribution of the digital economy to non-oil GDP to more than 20% within 10 years. Alwan added, “Hub71+ Digital Assets signifies that Abu Dhabi is open to disruptive businesses driving forward change and transformation on a global level.”
