Abu Dhabi-based startup accelerator Hub71 is partnering with US-based TechWadi, a non-profit organization which is connecting Silicon Valley to the Arab world.
The association will allow Silicon Valley ventures to gain traction among the UAE investor community.
The startup accelerator said in its statement that “This unique partnership further supports Abu Dhabi’s strategy of becoming a global tech ecosystem that encourages Hub71 startups to flourish.”
The Hub71 x TechWadi program will allow for cross-border knowledge sharing, investment deal flow, and market-access for both ecosystems. US startups and Venture Capitals will gain priority access to Hub71’s ecosystem and incentive program.
Hub71 startups, in turn, will benefit by gaining direct access to US-based VCs within the TechWadi network, which includes the likes of Google Venture, 500Startups, Silicon Valley Bank as well as TechWadi network mentors from companies like Apple, Facebook, Google, Palantir, Salesforce, and others.
“Our partnership with TechWadi creates value for both our international communities of founders as well as any US startups looking for growth opportunities in the Middle East. Companies on both sides will gain support, access to capital and market opportunities to scale their businesses abroad. In our pursuit of staying ahead of the curve, we are continually assessing and improving our offering and quest to help startups to thrive.”
The initiative will see US startups interested in using Abu Dhabi as their springboard for global growth, pitch for generous incentives such as free housing, health insurance and office space for up to three years, worth up to $82 thousand in non-equity subsidies; as well as to gain access to market, capital, talent and a flexible regulatory framework.
As part of the partnership, TechWadi will also host a TechWadi US-Investor Pitch Day for selected Hub71 startups who will seek investments from US-based VCs and investors. As part of Hub71’s global outreach, strategic partner Mubadala Investment Company and its Venture Capital (VC) arm has also begun linking Hub71 startups to its extensive global network of VCs and portfolio companies.