ABU DHABI, Hub71, Abu Dhabi’s global tech ecosystem and National Organiser of the Entrepreneurship World Cup 2020, has launched its search for the best startups from early-stage to growth phase in all sectors across the seven emirates.
“The startups will be selected to join the first-ever Team UAE which will take part in the Entrepreneurship World Cup 2020, during the MiSK Global Forum in Riyadh, Kingdom of Saudi Arabia in October 2020,” Hub71 said on Thursday. The Entrepreneurship World Cup is the largest global initiative for entrepreneurs with entries from 187 countries across the globe; attracting more than 100,000 applicants in its inaugural competition in 2019.
Ten UAE-based startups will be selected for Team UAE throughout July and August; closing applications on August 20, 2020. Team UAE startups stand to win life-changing prizes including US$1 million in cash prizes, additional funding opportunities, access to accelerator programmes, resources, and in-kind prizes worth a combined $75+ million.
Ahmad Alwan, Head of Strategy and Corporate Development, said, “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. As the official National Organiser for the UAE, 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. We look forward to seeing startups step up to the plate to represent the UAE in one of the biggest tech competitions in the world.”
During last year’s forum, Hub71 signed an MoU with the MiSK Foundation creating a more dynamic market for startups between the UAE and Saudi Arabia and improving cross-market access. As part of the MoU, Hub71 was named the sole National Organiser of the Entrepreneurship Cup 2020 for the UAE.
Jonathan Ortmans, President of Global Entrepreneurship Network, added, “Entrepreneurs are risk takers and industry disruptors, accustomed to facing challenges head on.Now more than ever, the world needs more entrepreneurs to unleash their ideas, develop innovative solutions and make the world a better place – the Entrepreneurship World Cup is helping founders at all stages do just that.”
Team UAE startups who apply for the Hub71 Incentive Programme will also be shortlisted, subject to completing their online Hub71 application, which offers 100 percent free housing, office space and health insurance for two years for seed companies and 50 percent subsidizes for three years for emergent companies; worth about AED3 million ($800k).
Source: Emirates News Agency