PHOTO
- Hub71 named UAE’s National Organiser for Entrepreneurship World Cup 2020, and is on the hunt for the UAE’s most outstanding tech startups to form ‘Team UAE’
- Hub71 to judge the world’s best startups at EWC 2019 and offers generous prizes
Abu Dhabi, United Arab Emirates: During the three-day Misk Global Forum in Riyadh, Hub71 - Abu Dhabi’s global tech ecosystem - signed a Memorandum of Understanding (MoU) with Misk Foundation that outlined steps towards creating a more dynamic market for startups between the United Arab Emirates and the Kingdom of Saudi Arabia. Hub71 was also today named the UAE’s National Organiser for the world’s biggest pitch competition: The Entrepreneurship World Cup (EWC) 2020, which is also an integral part of the Misk Global Forum.
Mahmoud Adi, CEO of Hub71, said: “The MoU agreement signed with the Misk Foundation means that Hub71 startups will have better access to the flourishing Saudi market. It also opens up a world of possibilities between two aligned ecosystems looking to develop a more collaborative approach to sharing market insights, investor relationships, strategic partnerships as well as co-working spaces.”
Shaima Hamidaddin, Executive Manager, Misk Global Forum, said: “At Misk we’re committed to empowering young people around the world to realise their potential in the future economy. A vital part of that is supporting innovative entrepreneurship and exciting founder-led ideas. This strategic MoU with Hub71 wil allow us to create a more open and dynamic environment for these startups and others in the future, to grow, flourish, and succeed.”
The MoU outlines steps towards building a larger shared ecosystem aimed at helping startups access the Saudi and UAE markets by offering:
- Shared in-market business development insights, introductions to investors, mentor networks and strategic partnerships.
- Business services and mentorship from local and international experts.
- Access to a close-knit community and ecosystem that support entrepreneurs.
Winners of the EWC 2019 competition will also have the chance to be shortlisted for the Hub71 Incentive Program.
As the sole National Partner of the EWC2020 for the UAE, Hub71 will be leading the charge on a series of nationwide competitions. Mahmoud Adi added: “We’ll be on the hunt for UAE’s best startups from each of the UAE’s seven emirates and proudly showcasing the winning ideas to represent ‘Team UAE’ at the EWC 2020 next November.”
Abdulrahman Al Suhaymi who leads the global entrepreneurship and innovation initiatives at Misk added: “We’re hugely excited to be working with Hub71 and the first ever ‘Team UAE’ in the 2020 EWC. Empowering young entrepreneurs and innovation is an important part of driving sustainability and positive social impact in the future economy. We’re looking forward to working with Hub71 to do just that, and to discover new ‘unicorns’ both in the region and around the world.”
The EWC is a global startup and pitch competition. Its inaugural 2019 edition has attracted entries from over 100,000 entrepreneurs, from idea stage to growth phase across all sectors, from 187 countries. Entrants are competing to win life-changing cash prizes, global mentorship and support services, as well as the chance to relocate to Abu Dhabi for the Hub71 Incentive Program, which includes up to 100% subsidized living, office space and healthcare for two years.
-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 #Hub71AD.
About the Misk Global Forum
The Misk Global Forum (MGF) is the flagship international platform of the Misk Foundation, a non-profit philanthropic foundation established by Saudi Arabia’s Crown Prince Mohammed bin Salman to discover, develop and empower Saudi youth to become active participants in the future economy. Since its launch in 2016, MGF has extended Misk’s mission to young people across the globe. Through international events, research and global initiatives, MGF brings together emerging and established leaders, innovators, and creators to explore, experience and experiment with ways to meet the challenge of change. MGF focuses on three core areas across its activations: skills for the future economy; entrepreneurship and employment; and active global citizenship. Website: https://miskglobalforum.com/about-mgf/
About the Entrepreneurship World Cup
The EWC is the biggest and most diverse startup pitch competition and support program of its kind, featuring 100,000 entrepreneurs from 185 countries. It offers winners life-changing prizes, including training and resources, networking and connection opportunities, investment, and cash-prizes totalling US$5 million. It also supports all entrants with a virtual incubator, enabling them to refine and hone their pitches throughout the competition. The EWC global finals are taking place at the fourth annual gathering of the Misk Global Forum in Riyadh in November. The EWC has five stages of participation:
o Education and virtual training
o National Finals
o Virtual and direct training sessions in preparation for Global Finals
o Live training sessions and on-stage competitions
o Global peer network offering mentorship and support service
Website: https://entrepreneurshipworldcup.com
About the Global Entrepreneurship Network
The Global Entrepreneurship Network operates a platform of projects and programs in 170 countries aimed at making it easier for anyone, anywhere to start and scale a business. By fostering deeper cross border collaboration and initiatives between entrepreneurs, investors, researchers, policymakers and entrepreneurial support organizations, GEN works to fuel healthier start and scale ecosystems that create more jobs, educate individuals, accelerate innovation and strengthen economic growth.
Media contacts:
Arvin Rivera
TechHubEdelman@Edelman.com
+971 50 6620301
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
