HUB71 AND GETFUNDEDAFRICA TO INCREASE INTERNATIONAL EXPANSION AND FUNDRAISING SUPPORT FOR STARTUPS

New partnership to expand market reach of Abu Dhabi and Africa based technology startups in new cross-border program.

Qualifying startups from Abu Dhabi and Africa to gain guidance, resources and support to setup, scale and raise funding in new markets.

Dubai, UAE – 13 October 2022

Hub71, Abu Dhabi’s global tech ecosystem, has launched an expansive partnership with GetFundedAfrica, a tech-enabled marketplace that matches startups, investors (VCs & Angels), corporations and government to support the growth of tech startups.

Announced during GITEX Global 2022 in Dubai, the new cross-border program aims to provide a soft-landing for Hub71 startups seeking to expand into Africa, and for startups in the continent seeking to penetrate the UAE and the Middle East region from Abu Dhabi. From receiving local company setup assistance to licensing and bank account opening, startups will gain support from both Hub71 and GetFundedAfrica with introductions to potential customers and investors through their respective networks of corporate partners and investment funds.

Hub71 shares a mission with GetFundedAfrica to nurture the growth of high potential startups by building a vast ecosystem to help ease the journey for founders to successfully close funding rounds and expand into new markets to scale disruptive businesses. The partnership also aims to enhance Hub71’s ability to identify and attract Africa’s most promising startups while offering founders in its vibrant community referrals to GetFundedAfrica as a dedicated entry point to the African marketplace. Additionally, UAE startups will be able to utilize the Ogun Technology Hub as a soft-landing entry point into sub-Saharan Africa. Deepening the talent pool, both Hub71 and GetFundedAfrica will also provide startups with access to local universities to unlock young and highly skilled talent in their respective markets.

Badr Al-Olama, Acting Chief Executive Officer of Hub71, said: “Forming a partnership with a dynamic organization like GetFundedAfrica reinforces our commitment on enabling startups to expand from Abu Dhabi into new high-growth markets in Africa. This new partnership facilitates cross-border investments, enables access to competitive and highly skilled talent, and brings new opportunities in untapped markets that are at the advent of technological transformation.”

Debo Omololu, CEO & Co-Founder of GetFundedAfrica commented “The partnership with Hub71 helps African companies become global players leveraging a global ecosystem developed in Abu Dhabi. On the same note, UAE based companies are able to access opportunities in Africa through a transparent cross-border ecosystem developed by GetFundedAfrica. Partnerships like this pave the way for long-term growth in our mutual economies”

At GITEX 2022, Hub71 and GetFundedAfrica hosted a panel alongside Khalifa Fund to discuss how collaboration between tech ecosystems in the MENA region and Africa can help accelerate startup growth in domestic markets.