Allen & Overy advises on Hub71’s latest start-up Intake
Allen & Overy has acted as legal counsel for Hub71, Abu Dhabi’s global tech ecosystem, on the development of its incubator investment framework. This framework will facilitate the integration of the latest cohort of start-ups joining Hub71’s esteemed company-building programme.
With a focus on sectors aligned with Abu Dhabi’s strategic ambitions, such as fintech, healthtech, proptech, e-commerce, data science, edtech, and cyber security, Hub71 has welcomed 15 promising ventures to its vibrant community. This addition has significantly expanded the size of Hub71, now comprising over 240 dynamic start-ups.
Notably, 67 percent of the selected start-ups in the latest cohort are headquartered outside the UAE, underscoring Abu Dhabi’s growing global recognition as a robust innovation hub. Entrepreneurs in the tech industry are increasingly drawn to the capital, attracted by its access to capital, thriving community, and business-friendly environment. The 15 start-ups originate from diverse locations including the UAE, USA, New Zealand, Egypt, the Netherlands, and the UK.
Backed by the esteemed Government of Abu Dhabi and Mubadala Investment Company, Hub71 empowers founders to establish successful tech companies with global reach. It offers access to international markets, a robust capital ecosystem, an extensive network of partners, and a vibrant community brimming with highly skilled talent. All these advantages are governed by forward-thinking regulations, further solidifying Abu Dhabi’s position as a hub of innovation and entrepreneurship.
Middle East Head of TMT and partner Tom Butcher (pictured right), who led the A&O TMT team, commented:
“We have witnessed a significant increase in the volume of venture capital investments and activity in the region, demonstrating the importance of the technology sector and the crucial role that it will have in the UAE’s future economy.”
Senior associate and co-chair of the Middle East Venture Capital Association’s Legal Committee, Grace Hunt (pictured left), who led the A&O Corporate team, also commented:
“Our work on the project demonstrates our continued commitment to be an active participant and supporter of the venture capital ecosystem in the Middle East.”
