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Hub71 Launches ClimateTech Program at Cop28 with $68,000 Initial Support for Start-ups

Jonathan Wong

Jonathan Wong

6 December 2023

Hub71, Abu Dhabi's global technology system, unveils the Hub71+ ClimateTech ecosystem at Cop28, partnering with major organizations for climate technology start-ups. Over 100 start-ups, selected from 342 applications, will receive initial cash support of $68,000 and incentives. Top performers may be eligible for a total support of $136,000. Adnoc commits Dh2.5 million, with additional investments, while Abu Dhabi government entities join the initiative to set up testing and development frameworks. Anchor partners include Siemens Energy, Taqa, Tabreed, and corporate backers like Mubadala and Microsoft, offering resources and expertise.

Hub71+ ClimateTech aims to assist start-ups in their journey to mature businesses, fostering connections with organizations for talent, capital, and market access. The UAE's green agenda aligns with this initiative, emphasizing clean energy, net zero by 2050, and a 40% reduction in carbon emissions by 2030. Cop28 witnesses a surge in sustainability pledges, with international donors committing over $777 million to combat neglected tropical diseases.

According to Hub71's deputy CEO, Ahmad Alwan, the program reflects a growing focus on feasible climate tech solutions. The UAE actively supports green initiatives globally, investing in renewable energy projects and promoting green infrastructure. ClimateTech start-ups in the UAE have attracted over $401 million in funding from 2018 to 2022, contributing to the sector's growth in the Mena region and Turkey.

Hub71's website highlights more than 260 member start-ups, generating over 1,000 jobs and raising over Dh5 billion since its founding in 2019. The Hub71+ ClimateTech program positions itself as a catalyst for positive impact, with partners committed to advancing climate technology and supporting initiatives that drive meaningful change.