The UAE's first WeWork officially opens

Hub71 officially launched the country's first WeWork - spanning three floors of beautifully designed workspace offering 1200 desks for members to innovate, collaborate and connect - in the capital of the United Arab Emirates, Abu Dhabi

  
The UAE's first WeWork officially opens
  • Hub71 adds four additional innovative startups to the Hub71 Incentive Program, taking it to 39 startups in its ecosystem
  • Hub71 to host the 2020 Final Awards Ceremony and Conference of the leading MIT Enterprise Forum Arab Startup Competition in Abu Dhabi, bringing the two-day event to the Emirates for the first time ever

Abu Dhabi, United Arab Emirates: Hub71, Abu Dhabi’s tech ecosystem officially launched WeWork x Hub71 – three floors of beautifully designed workspace offering 1200 desks for members to innovate, collaborate and connect – in the award-winning international financial center, Abu Dhabi Global Market, located on Al Maryah Island, Abu Dhabi. The grand launch event was attended by Hub71’s strategic partners, senior government officials, WeWork x Hub71 members, corporate leaders, and global startups – all brought together under the theme: A Decade Ahead: Abu Dhabi’s Global Tech Ecosystem.

The building is WeWork’s first location in the UAE and its first members moved in earlier this month, including Hub71’s global community of startups, venture capitalist firms and tech accelerators. Adding to the growing community, it was announced today that four new innovative startups – Jordanian company Rizek, UAE-based fintech companies Sarwa, denarii cash and US-based Securrency, a New York founded pioneer of blockchain technology – have been admitted into the Hub71 Incentive Program, bringing the total number of startups at Hub71 to 39.

Ibrahim Ajami, Head of Ventures - Mubadala Capital and Acting CEO of Hub71, said: "The launch of the new WeWork x Hub71 is another positive proof point for Abu Dhabi’s tech and startup ecosystem. Our mission is to provide entrepreneurs with community support and market access as they grow their businesses. The WeWork x Hub71 community is a fundamental part of our strategy to enable entrepreneurs with differentiated offerings."

Riad Thoumas, UAE General Manager, WeWork, commented: “The way that we work is changing, and WeWork is at the forefront of this change. We believe people are more productive and creative when they are comfortable and happy in their work environments, so we provide our members with the best spaces and services. It’s clear that there is huge momentum building in the capital, particularly in the tech startup space, and our partnership with Hub71 and Mubadala reflects a change in the way that companies, large and small, are choosing to work. What sets us apart is our community and our ability to create a buzzing culture of collaboration – and we’re looking forward to watching our WeWork x Hub71 community grow and thrive.”

With 740 locations in 140 cities across 37 countries, there are over 662,000 WeWork memberships worldwide, representing companies from startups to Fortune 500 global enterprises. The world’s leading co-working and space-as-a-service company, WeWork creates beautiful spaces using innovative design that champions productivity, flexibility and community, and offers its members access to unique services and events both within its buildings and online. WeWork x Hub71 offers its members the benefits of a collaborative culture, a worldwide community and the flexibility of a global network that offers both large and small organizations cost-efficient, flexible, and scalable workspaces in an environment that promotes productivity and employee engagement.

It was also revealed that Hub71 will host this year’s 2020 Final Awards Ceremony and Conference for the 13th edition of MIT Enterprise Forum’s Arab Startup Competition in Abu Dhabi, on April 8, 2020 . This year’s theme ‘Lead for a Better World’ aims to leverage technology's potential in solving some of the world's most pressing issues and fostering an entrepreneurial mindset which promises long-lasting impact on societies. The competition will see hundreds of startups, VCs and tech enablers descend on the UAE capital on the 7th and 8th of April 2020, from across the MENA region. The MENA region’s largest and longest running tech entrepreneurship competition awards winning teams with USD 120,000 in equity-free funding, training, mentorship, coaching, media exposure and global networking opportunities.

All Arab Startup Competition finalists will also automatically get the opportunity to pitch the Hub71 selection committee for a chance to receive a spot on the global Hub71 Incentive Program.

To find out how to join the WeWork x Hub71 community and to apply for Hub71 incentive program visit www.hub71.com.

-Ends-

About Hub71:

Hub71, named after the UAE’s formation in 1971, is a tech ecosystem located in the heart of Abu Dhabi that brings together several key elements for startup success: access to capital, access to market opportunities, and a favorable business environment. Backed by Mubadala Investment Company – its growing international tech community of tech giants, venture capitalists, tech ecosystem players, and global startups can expect to benefit from an interconnected global network. Alongside strategic partners Microsoft, SoftBank Vision Fund, and Abu Dhabi Global Market; Hub71 is creating the optimal environment for transformative tech companies looking to maximize success, produce outstanding tech innovations, and scale globally. For the greater social and economic good of Abu Dhabi, Hub71 is a flagship initiative of the Dh50 billion economic accelerator program ‘Ghadan 21’, which means ‘tomorrow’ in Arabic. For more information visit www.hub71.com and follow us on @Hub71AD #Hub71.

About WeWork:

WeWork provides members with space, community, and services through physical and virtual offerings. Its mission is to create a world where people work to make a life, not just a living. As of 2019 fourth-quarter close, WeWork had 740 locations across 140 cities and 37 countries, as well as 662,000+ memberships, including global enterprises. WeWork is committed to providing members around the world with a better day at work for less.

Media contacts:  Arvin Rivera, TechHubEdelman@Edelman.com; +971 50 662 0301 & Clare Walker, clare.walker2@wework.com .   

© Press Release 2020

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