Core42 and AI71 Lead New Initiative to Drive AI Entrepreneurship
Abu Dhabi’s global tech ecosystem, Hub71, has announced the launch of Hub71+ AI, a specialized platform aimed at boosting the growth of AI startups. The initiative is anchored by Core42 and AI71 and supported by key partners such as AWS, Google for Startups, Nvidia, Hewlett Packard Enterprise (HPE), Mohamed Bin Zayed University of Artificial Intelligence (MBZUAI), and 42 Abu Dhabi. With a 67% compound annual growth rate (CAGR) in AI companies since 2021, Hub71+ AI solidifies Abu Dhabi’s position as a global hub for AI innovation by offering startups cloud credits, R&D support, and access to strategic partnerships.
Why it matters?
Marking its fifth anniversary, Hub71 has already attracted more than 260 startups across 22 sectors, collectively raising AED 5.4 billion ($1.5 billion) in venture capital. Over the same period, Abu Dhabi has heavily invested in AI research and development, digital transformation, and AI-dependent industries like autonomous vehicles. This has resulted in the rapid development of a robust AI ecosystem that commercializes locally developed technologies and nurtures cutting-edge AI companies. Despite its success, Hub71 had not previously offered a dedicated platform for AI startups, making the launch of Hub71+ AI a significant milestone.
Key features of Hub71+ AI
• Strategic Launch: Introduced during Abu Dhabi Finance Week, the program reflects Abu Dhabi’s commitment to using AI to drive economic diversification, transform industries, and enhance its global competitiveness.
• Anchor Partners: Core42, part of the G42 group, will provide sovereign cloud infrastructure, AI training, and regional deployment support, while AI71 will offer advanced generative AI tools such as Falcon LLMs and pay-as-you-go API access.
• Collaborative Network: Partners like AWS, Google for Startups, Nvidia, HPE, MBZUAI, and 42 Abu Dhabi will provide startups with R&D opportunities and access to state-of-the-art technology.
• Comprehensive Support: Startups will gain access to technical expertise, regulatory guidance, and market entry pathways to help them expand globally.
• AI Growth: Between 2021 and 2023, Abu Dhabi’s AI sector grew at a 67% CAGR, with one new AI company established every two days in early 2024.
The bigger picture
The UAE continues to position itself as a global leader in AI adoption, with Abu Dhabi playing a central role. Hub71+ AI aligns with the UAE’s National AI Programme and broader strategy to establish the nation as a hub for AI innovation, research, and deployment. With the global AI industry projected to surpass $1.5 trillion by 2030, initiatives like Hub71+ AI are critical in shaping the future of the sector.
