Post by : Bianca
Haleem
The Khalifa Fund for Enterprise Development (KFED) in collaboration with Hub71 has inaugurated the MZN Hub71 Programme, welcoming a group of 17 Emirati innovators aiming to advance early-stage startups in critical sectors.
These startups were meticulously selected from over 370 submissions, reflecting an increasing enthusiasm for entrepreneurship within the UAE. The initiative, spearheaded by the Khalifa Fund and carried out through MZN Hub Al Ain, seeks to empower Emirati creators by assisting them in transforming pioneering concepts into scalable models.
This initial cohort is characterized by its youthful energy, with nearly 90% of participants under 35 and more than 75% embarking on their first entrepreneurial journeys. Notably, 35% of the founders are women, indicating a positive trend towards inclusivity in the startup scene.
The programme underscores robust collaboration among KFED, Hub71, and their associated networks, with approximately 59% of selected founders being referred from partner organizations, showcasing the vibrant entrepreneurial ecosystem in the UAE.
The startups' focus spans vital areas aligning with Abu Dhabi's economic diversification goals, including HealthTech, ClimateTech, FinTech, and AgriTech, as well as groundbreaking solutions driven by artificial intelligence.
His Excellency Khalifa Al Kuwaiti, Executive Director of Khalifa Fund’s Entrepreneurship Sector, expressed that this initiative epitomizes the organization’s dedication to nurturing Emirati entrepreneurs and fortifying the national business landscape's future.
He emphasized that MZN Hub Al Ain offers a well-defined route for founders to evolve ideas into successful businesses by providing mentorship, networking, and investment readiness assistance to empower them for global competition.
Ahmad Ali Alwan, CEO of Hub71, noted that the programme highlights the escalating progress of Emirati entrepreneurs in Abu Dhabi, stating that Hub71 is dedicated to supporting startups right from idea validation to establishing robust business foundations and scaling effectively.
Spanning three months, the programme at MZN Hub Al Ain will mentor participants through various stages of startup evolution, including developing minimum viable products, market testing, and preparation for launch.
The programme will culminate in a Demo Day where budding founders will showcase their startups to investors, government representatives, and strategic partners, paving the way for funding, partnerships, and commercial expansion.
Post-programme, participants will maintain access to Abu Dhabi's expansive innovation ecosystem, including financial support, commercial ventures, and strategic direction to enhance their global reach.
Through this partnership between Khalifa Fund and Hub71, the MZN Hub71 Programme aims to bolster Abu Dhabi’s long-term entrepreneurial landscape and facilitate the rise of competitively ranked Emirati businesses.
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