Abu Dhabi's Hub71 begins search for 'Team UAE' startups
03 Jul 2020
Abu Dhabi’s Hub71 has begun a search for early-stage to growth phase start-ups to join the first-ever ‘Team UAE’ to take part in the Entrepreneurship World Cup 2020 in Riyadh in October.
The event, which will be held during the MiSK Global Forum, is the largest initiative for entrepreneurs with entries from 187 countries across the globe, attracting more than 100,000 applicants in its inaugural competition in 2019.
A total of 10 UAE-based start-ups will be selected for Team UAE throughout July and August, with applications scheduled to close on August 20.
Prizes include $1 million in cash prizes, additional funding opportunities, access to accelerator programmes, resources and in-king prizes worth a combined $75 million.
“Team UAE’s participation in the Entrepreneurship World Cup 2020 will not only showcase the innovation in tech that this country has to global audiences; it will embody this nation’s passion and drive in one team,” said Ahmad Alwan, head of strategy and corporate development. “We are continuing our hunt for the most innovative startups and specifically looking for startups who believe they have what it takes to represent the UAE on a global stage.”
Startups who apply to the Hub71 Incentive Programme will also be shortlisted, subject to completing their Hub71 application, which offers 100 percent free housing, office space and health insurance for two years for seed companies and 50 percent subsidies for three years’ worth for emerging companies, worth about $800,000.
Source: Arabian Business