April 20, 2024

Innovation and Support for Web3 Startups: Hub71’s Latest Offering in Abu Dhabi

_Web3 startups

_Web3 startups

Last Updated on November 9, 2023 by newseditor

Abu Dhabi’s Hub71 is making headlines again with its new initiative to support Web3 startups. Hub71+ is an industry-focused ecosystem designed to spur the growth of specialized technological fields. Hub71+ Digital Assets, the first of the network’s initiatives, is devoted to achieving the transformative power of Web3 and the expansion of digital assets. The Hub71+ Digital Assets are an integral part of UAE’s plan to become a global leader in technology.

Web3 depicts how the internet has evolved into a decentralized virtual community that is increasingly based on cutting-edge technologies like blockchain innovation and metaverses. As a result of Hub71+ Digital Assets, Web3 businesses of all sizes and stages, from the funding phase to the unicorn phase, will now have the opportunity to scale globally. This exciting digital ecosystem will provide startups access to various resources, including mentorship, funding opportunities, and Hub71’s extensive network of corporate, government, and investment partners in the UAE and global markets.

Transforming Tech: Hub71’s Web3 Ecosystem Nurtures Blockchain Innovation And Startups

As part of Hub71’s ecosystem, your business will be connected to a specialized network that features Web 3 enterprises worldwide. As a result, startups will have easier access to venture capital, fund managers, and investors interested in Web3 and digital assets. Through the Abu Dhabi Global Market, Hub71 will put Web3 startups in a position to do business in an atmosphere that is friendly to entrepreneurs. Startups can also gain exclusive access to blockchain platforms and other corporate or strategic partners.

Web3 Ecosystem Gets A Boost With Hub71’s $2 Billion Investment In Digital Assets

Like Hub71 established a worldwide technological ecosystem, the company hopes to establish more specialized sectors. Hub71, ADGM, and First Abu Dhabi Bank are the lynchpin partners in the newly created ecosystem. Initial funding from venture capital firms will total $2 billion, intending to expand digital assets’ investor base. Hub71 claims that FAB would seek out Web3 companies, entrepreneurs, and ground-breaking technology to help redefine financial services in the virtual world. Hub71+ Digital Assets will soon accept application submissions for Web3 startups. By qualifying the ecosystem’s evaluation process, startups will have access to their partners, which may include technical experts available to help businesses expand.

Onboarding A Diverse Partner Network And Web3 Participants

Hub71 has expanded its partnerships to include a diverse group of digital asset players and Web3 pioneers. Digital asset exchanges and service providers such as Binance and MidChains facilitate digital asset discovery, trading, and custody.Technology providers like Amazon Web Services (AWS) and Mastercard bridge the gap between Web2 and Web3 by providing effective infrastructure platforms. Venture studios like Founders DAO help build and accelerate upcoming Web3 and digital assets startups. Venture capital funds like Binance Labs’ $500 million Investment Fund and Venom Foundation through its $1 billion venture fund, Venom Venture Funds (VVF), in partnership with ICEBERG Capital, provide access to capital and investment opportunities. Blockchain platforms like Algorand, Polygon, SUI Blockchain, Ton Foundation, and Venom Foundation also publicly track, monitor, and share assets.


Read Previous

Cloud Computing in KSA- the Present and Future

Read Next

The Cybersecurity Landscape in Saudi Arabia

Most Popular