Arab Capital Group investment together with IT to advance new technology ecosystem
Recently, Arab Capital Group announced that it will launch a special fund to be used by Arab Capital Group to invest in startups and venture capital companies based in Hub71.
It is understood that the fund, starting from April 28, 2019, will adopt a governments supporting plan to jointly invest in technology startups and new fund managers based in Hub71, to support its establishment in the UAE and development business. In addition, Hub71 also provides fully subsidized housing, office space and medical insurance for technology companies in the seed stage, and provides 50% subsidies for more mature technology companies.
Hub71 is a global technology ecosystem, with Abu Dhabi International Financial Center on Amar Island as its strategic location, dedicated to providing a comprehensive global network to promote entrepreneurial success, innovation and growth opportunities. It is noteworthy that Hub71 of Abu Dhabi, for the first time, brings together the three pillars of the Abu Dhabi technology ecosystem-capital providers, business promoters and strategic partners. Arab Capital Group is the founding partner of this new initiative.
So far, more than 40% of new technology companies in the Middle East have chosen the United Arab Emirates.