ABU DHABI, (Pakistan Point News - 19th Oct, 2020) Hub71 and the Saudi Ministry of Communications and Information Technology’s, MCIT, Digital Innovation Centre struck a new strategic partnership to increase collaboration that drives digital innovation and tech entrepreneurship between the UAE and Saudi Arabia.
The three-year agreement aims to foster international knowledge exchange and talent growth in the UAE and Saudi Arabia, in addition to supporting the growth of entrepreneurs and startups in the MENA region and beyond.
The Digital Innovation Centre is a key pillar of Saudi Arabia’s digital infrastructure. It supports the nation’s digital startup community, fostering economic development and job creation for Saudi youth in line with the Kingdom's Vision 2030.
Entrepreneurs in Abu Dhabi and Saudi Arabia will have joint access to Hub71 and Digital Innovation Centre’s extensive network of corporate partners, mentorship networks, and international expertise. Additionally, training courses and workshops will facilitate the exchange of knowledge and digital expertise in advanced technology between the two tech hubs.
Hub71 and the Digital Innovation Centre will also offer full support in obtaining the necessary licences to ease the process of establishing new tech startups in the UAE and Saudi Arabia, giving entrepreneurs access to a cohesive and collaborative tech ecosystem that supports tech companies and future leaders.
Commenting on the partnership, Hanan Harhara Al Yafei, CEO at Hub71, said, "Partnering with the Digital Innovation Centre at MCIT opens the door even wider to the lucrative Saudi market for our fast-growing startup community.
"Equally, our new strategic partnership will make it easier for Saudi entrepreneurs to advance their knowledge and capabilities in the tech sectors driving forward our burgeoning tech ecosystem in Abu Dhabi."
Ibrahim Al Nasser, General Manager of Digital Innovation Centre, commented, "As a key pillar of Saudi Arabia’s digital infrastructure and the main ecosystem player in the development of ICT entrepreneurship, our priority is to stimulate innovation and opportunities for entrepreneurs to put their best foot forward in scaling their businesses.
"With this is in mind, we want future generations to have access to a leading tech hub that shares our ambition in driving forward our digital transformation. Ultimately, playing a key role in developing advanced technologies will make a phenomenal impact to our future economy in line with the Saudi Vision 2030."
Through the partnership, Saudi-based startups will gain priority access to the Hub71 Incentive Programme, which offers seed companies 100 percent free housing, office space and health insurance for two years and 50 percent subsidies for three years for emerging companies, worth approximately AED3 million (US$800,000).
