Latest news with #2024GlobalStartupEcosystemReport
IOL News
3 days ago
- Business
- IOL News
The AI race is on: Startup ecosystems in the crosshairs of a new era
The startup world has exhaled and taken off in a full sprint, straight into the AI era, says the author Image: RON AI When I wrote about the 2024 Global Startup Ecosystem Report (GSER) last year, it felt like the world of startups was holding its breath, hopeful, but cautious. We were all waiting to see what would come next. Now, here we are in 2025, and that moment of pause is well and truly over. The startup world has exhaled and taken off in a full sprint, straight into the AI era. This year, the newly released GSER 2025, now in its 13th edition, hits a different note entirely. It doesn't just take stock of where we are, it challenges us to rethink where we're going. With insights drawn from over 5 million startups across more than 350 ecosystems, this year's report is, more than anything, a bold invitation to act. Each ecosystem in the GSER 2025 is evaluated across six key success factors — Performance (total startup and exit valuations), Funding (early- and late-stage capital and large exits), Talent & Experience (quality and track record of founders and workforce), Market Reach (local and global customer access), Knowledge (research output and innovation capacity), and, new for 2025, AI-Native Readiness (the ecosystem's transition to AI-driven innovation in startups, funding, and policy). The GSER 2024 painted a picture of stagnation in the post-Covid tech sector, with exits and funding levels far below pre-pandemic highs. The world's top ecosystems — Silicon Valley, London, and New York — held their positions, buffered by deep capital and talent reserves. But signs of movement were already evident: Tel Aviv surged to tie with Los Angeles for 4th, and Tokyo cracked the top 10 for the first time, backed by state-led innovation strategies. Fast forward to 2025, and the ground has visibly shifted. Silicon Valley, no surprises here, is still king of the hill. But London, which had been comfortably sharing the silver medal with New York since 2020, has now been bumped to bronze. The real headline, though, is Tel Aviv's rise to fourth place outright, a climb powered by Israel's long-standing strategic investments and its central role in the global AI revolution. China, which saw a dip in rankings last year, rebounded strongly in 2025 with notable improvements in rankings for cities such as Beijing and Shanghai, Europe faced a decline in ecosystem value apart from Paris which ascended to the 12th position. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading The overall picture painted by GSER 2025 indicates a shifting focus; ecosystems that effectively incorporate AI technologies are likely to have a competitive edge, while those that remain anchored in outdated models risk obsolescence. The funding landscape wasn't entirely bleak. While overall startup ecosystem value declined, one sector surged ahead: Artificial Intelligence. AI startups didn't just weather the downturn; they thrived, capturing 40% of global VC funding in 2025, up from 26% in 2021. Last year, Nairobi led the Sub-Saharan pack, with Lagos, Cape Town, and Johannesburg following. In 2025, Lagos takes the lead, boosted by three unicorns (Flutterwave, Moniepoint, and Andela) and a strengthened fintech backbone. Cape Town remains the only African city in the Top 100 Emerging Ecosystems, while Johannesburg, despite its wealth of financial institutions and Africa's largest stock exchange, continues to lag behind in ecosystem index rankings. As South Africa contemplates its evolving role within this global context, the GSER 2025 delivers a clear directive: governments must allocate at least 25% of AI transition budgets to entrepreneurial ecosystems; not just to academic research or infrastructure. The path forward is clear: act locally, partner globally, and ride the AI wave with policy and precision. For me, the GSER 2025 rings louder and more urgently than any report before it. The message is clear: the next generation of innovation won't wait for those who hesitate. Ecosystems that move quickly to embrace AI, and ensure its benefits are widely shared, will be the ones that shape the future. Boitshoko Shoke, Research & Impact Manager at 22 On Sloane. Image: Supplied Boitshoko Shoke, Research & Impact Manager at 22 On Sloane. *** The views expressed here do not necessarily represent those of Independent Media or IOL BUSINESS REPORT
TECHx
26-04-2025
- Business
- TECHx
Hub71 Drives Record Growth in 2024, Boosting Tech Investment UAE
Home » Startups » Hub71 Drives Record Growth in 2024, Boosting Tech Investment UAE Hub71, Abu Dhabi's global tech ecosystem, has published its 2024 Impact Report, highlighting a year of major growth and international momentum. The ecosystem continues to strengthen Abu Dhabi's position as a center for innovation, entrepreneurship, and tech investment UAE. In 2024, Hub71 startups raised $2.17 billion (AED 8.02 billion), up 44.7% from 2023. This increase reflects strong investor confidence in Abu Dhabi's innovation economy. Startup revenue also rose to $1.2 billion (AED 4.5 billion), showing steady commercial success. Applications to join Hub71 surpassed 3,100, with founders from over 20 countries. Notably, more than 70% of startups selected were international, with strong representation from the US, UK, and Germany. Hub71's global reach continues to grow. According to the 2024 Global Startup Ecosystem Report, Abu Dhabi is the fastest-growing emerging startup ecosystem in MENA. Its value rose 28% to $4.2 billion. Hub71's sector-specific focus, through programs like Hub71+ Digital Assets, ClimateTech, and AI, played a key role. Partnerships with tech leaders such as Google, NVIDIA, and AWS are also accelerating growth. Startups in the Digital Assets program alone raised over $100 million, strengthening Abu Dhabi's technology leadership. Capital access remains a priority. In 2024, Hub71's partners deployed $65 million (AED 238 million) into the ecosystem. New investors such as Princeville Capital and Golden Gate Ventures joined. In addition, Tech Barza, Hub71's capital club, closed its first deal and grew membership by 10%. To further support early-stage startups, Hub71 launched an Angel Investor Support Package. This initiative helped activate five new angel networks, boosting startup scalability in Abu Dhabi. Meanwhile, strategic partnerships helped startups gain market access. In 2024, Hub71 startups signed 91 corporate deals worth $28 million (AED 103 million) with government and private sector players. Programs like the Regulatory Sandbox allowed startups to pilot solutions in smart mobility, digital health, and food innovation. Despite a changing funding environment, Hub71 startups attracted major investments. FinTech startup FlapKap raised $34 million (AED 124.7 million). ClimateTech innovator 44.01 secured $37 million (AED 135.7 million) to expand its carbon capture technology. HealthTech startup BioSapien closed $5.5 million (AED 20 million) to advance its cancer treatment implant. Today, Hub71 is home to a growing community of founders focused on solving global challenges. With strong access to capital, strategic partners, and specialist programs, Hub71 is helping Abu Dhabi's innovation economy thrive. Hub71's 2024 Impact Report confirms its role as a major driver of tech investment UAE and highlights its contribution to shaping the future of global technology.
Khaleej Times
24-04-2025
- Business
- Khaleej Times
Hub71 records $2.17 billion in startup funding as Abu Dhabi rises among global tech hubs
Hub71, Abu Dhabi's global tech ecosystem, on Thursday announced that in 2024, startups within its purview secured a record $2.17 billion (Dh8.02 billion) in funding; a 44.7% year-on-year increase from $1.5 billion in 2023. Revenue generated by startups also climbed to $1.2 billion, up from $1 billion the previous year. During the year, Hub71 received over 3,100 applications from entrepreneurs representing more than 20 countries, highlighting the growing global appetite to build from the UAE capital. Of the 46 startups selected, approximately over 70% came from international markets, with more than half in the Seed or Series A stages. Startups from the US, UK and Germany, made up nearly 63% of Cohort 16, cementing the city's reputation as a gateway between established tech hubs and high-growth emerging markets. Ahmad Ali Alwan, chief executive officer of Hub71, said: 'Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi. That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact. The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi's long-term potential. As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.' Hub71's momentum mirrors Abu Dhabi's growing status on the global startup map. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in Mena, with its ecosystem value rising 28% to $4.2 billion between mid-2021 and end-2023. StartupBlink's 2024 rankings placed Abu Dhabi sixth regionally and second in the UAE, reinforcing its rising global profile. Much of this rapid growth has been fueled by Hub71, which is driving sector-wide transformation through its specialist ecosystems. Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI are attracting startups that are developing impactful solutions to some of the world's most pressing challenges. Startups in the Digital Assets programme alone have raised more than $100 million, while partnerships with global tech leaders like Google, NVIDIA, Solana, Hashed and AWS are accelerating innovation across Web3, AI, renewable energy, and deep tech. This sector-driven approach is also contributing to the development of Abu Dhabi's strategic economic clusters. From enabling breakthroughs in smart mobility through the SAVI cluster, to advancing sustainable agriculture and food security via the AGWA cluster, Hub71 is playing an active role in positioning Abu Dhabi as a global center for innovation across critical industries. Funding networks expand, angel capital activates Capital access remains a central pillar of Hub71's strategy. In 2024, capital partners deployed $65 million into its startup community. The global tech ecosystem welcomed new investors, including Princeville Capital, The Catalyst, and Golden Gate Ventures. Meanwhile, Tech Barza, Hub71's exclusive capital club for family offices, recorded its first startup deal and a 10% increase in membership. To unlock early-stage capital, Hub71 launched the Angel Investor Support Package empowering five new angel networks, including Falcon Valley and Qora71, to facilitate more early-stage ticket investments, thereby accelerating the growth and scalability of startups within the Abu Dhabi ecosystem. Strategic partnerships Beyond funding, strategic partnerships remain a key pillar of Hub71's value proposition, playing a critical role in helping startups gain traction. In 2024, startups signed 91 corporate deals with government and private sector partners worth $28 million, accelerating their ability to scale and commercialize their solutions. Programmes like the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), enabled startups to pilot cutting-edge technologies in sectors such as smart mobility, digital health, food innovation, and alternative proteins. Startup successes In a year marked by an evolving funding environment, Hub71 startups captured investor attention with landmark raises that signal both global relevance and real-world impact. FinTech startup FlapKap, raised $34 million in pre-Series A funding to expand its AI-driven lending solutions across the GCC. ClimateTech pioneer 44.01 secured $37 million in Series A funding to scale its CO₂ mineralisation technology that transforms captured emissions into rock, contributing to global decarbonisation. Meanwhile, HealthTech innovator BioSapien closed a $5.5 million pre-Series A round to accelerate clinical trials of its MediChip, a 3D-printed implant that delivers localized cancer treatment with minimal side effects. Today, Hub71 is home to a vibrant community of founders building high-impact startups that address global challenges and unlock new markets; driven by access to capital, expert support and sector-specific expertise to attract top talent and fuel Abu Dhabi's innovation agenda.
Zawya
24-04-2025
- Business
- Zawya
Hub71 records $2.17bln in startup funding as Abu Dhabi rises among global tech hubs
Abu Dhabi – Hub71, Abu Dhabi's global tech ecosystem, released its 2024 Impact Report, marking a year of record-breaking growth, international recognition and strategic ecosystem expansion. Now in its sixth year, Hub71 continues to play a pivotal role in advancing innovation, while firmly establishing Abu Dhabi as a global destination for technology, investment and entrepreneurship. In 2024, Hub71 startups secured a record $2.17 billion (AED 8.02 billion) in funding; a 44.7% year-on-year increase from $1.5 billion (AED 5.4 billion) in 2023, demonstrating strong investor confidence in Abu Dhabi's innovation economy. Revenue generated by startups also climbed to $1.2 billion (AED 4.5 billion), up from $1 billion (AED 3.5 billion) the previous year, reflecting sustained commercial traction across priority sectors. During the year, Hub71 received over 3,100 applications from entrepreneurs representing more than 20 countries, highlighting the growing global appetite to build from the UAE capital. Of the 46 startups selected, approximately over 70% came from international markets, with more than half in the Seed or Series A stages. Startups from the US, UK and Germany, made up nearly 63% of Cohort 16, cementing the city's reputation as a gateway between established tech hubs and high-growth emerging markets. Ahmad Ali Alwan, Chief Executive Officer of Hub71, said: 'Hub71 began as an ambitious idea to enable founders to build from Abu Dhabi. That idea has since grown into a thriving community of entrepreneurs, investors, and partners working together to drive lasting impact. The progress captured in this report reflects the strength of our ecosystem and the trust placed in us by those who believe in Abu Dhabi's long-term potential. As we look ahead, our focus remains on empowering founders and positioning Abu Dhabi as a global hub for technology and innovation.' Fueling growth through deep sector focus Hub71's momentum mirrors Abu Dhabi's growing status on the global startup map. According to the 2024 Global Startup Ecosystem Report, the emirate is the fastest-growing emerging startup ecosystem in MENA, with its ecosystem value rising 28% to $4.2 billion between mid-2021 and end-2023. StartupBlink's 2024 rankings placed Abu Dhabi 6th regionally and 2nd in the UAE, reinforcing its rising global profile. Much of this rapid growth has been fueled by Hub71, which is driving sector-wide transformation through its specialist ecosystems. Hub71+ Digital Assets, Hub71+ ClimateTech, and the newly launched Hub71+ AI are attracting startups that are developing impactful solutions to some of the world's most pressing challenges. Startups in the Digital Assets programme alone have raised more than $100 million, while partnerships with global tech leaders like Google, NVIDIA, Solana, Hashed and AWS are accelerating innovation across Web3, AI, renewable energy, and deep tech. This sector-driven approach is also contributing to the development of Abu Dhabi's strategic economic clusters. From enabling breakthroughs in smart mobility through the SAVI cluster, to advancing sustainable agriculture and food security via the AGWA cluster, Hub71 is playing an active role in positioning Abu Dhabi as a global center for innovation across critical industries. Funding networks expand, angel capital activates Capital access remains a central pillar of Hub71's strategy. In 2024, capital partners deployed $65 million (AED 238 million) into its startup community. The global tech ecosystem welcomed new investors, including Princeville Capital, The Catalyst, and Golden Gate Ventures. Meanwhile, Tech Barza, Hub71's exclusive capital club for family offices, recorded its first startup deal and a 10% increase in membership. To unlock early-stage capital, Hub71 launched the Angel Investor Support Package empowering five new angel networks, including Falcon Valley and Qora71, to facilitate more early-stage ticket investments, thereby accelerating the growth and scalability of startups within the Abu Dhabi ecosystem. Unlocking market access through strategic partnerships Beyond funding, strategic partnerships remain a key pillar of Hub71's value proposition, playing a critical role in helping startups gain traction. In 2024, startups signed 91 corporate deals with government and private sector partners worth $28 million (AED 103 million), accelerating their ability to scale and commercialize their solutions. Programs like the Regulatory Sandbox, co-developed with the Abu Dhabi Department of Economic Development (ADDED), Abu Dhabi Mobility, and the Abu Dhabi Agriculture and Food Safety Authority (ADAFSA), enabled startups to pilot cutting-edge technologies in sectors such as smart mobility, digital health, food innovation, and alternative proteins. Startup successes: Scaling impact from Abu Dhabi In a year marked by an evolving funding environment, Hub71 startups captured investor attention with landmark raises that signal both global relevance and real-world impact. FinTech startup FlapKap, raised $34 million (AED 124.7 million) in pre-Series A funding to expand its AI-driven lending solutions across the GCC. ClimateTech pioneer 44.01 secured $37 million (AED 135.7 million) in Series A funding to scale its CO₂ mineralization technology that transforms captured emissions into rock, contributing to global decarbonization. Meanwhile, HealthTech innovator BioSapien closed a $5.5 million (AED 20 million) pre-Series A round to accelerate clinical trials of its MediChip™, a 3D-printed implant that delivers localized cancer treatment with minimal side effects. Today, Hub71 is home to a vibrant community of founders building high-impact startups that address global challenges and unlock new markets; driven by access to capital, expert support and sector-specific expertise to attract top talent and fuel Abu Dhabi's innovation agenda. About Hub71: Hub71 is Abu Dhabi's global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation. Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71's entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation's continuous economic development. For more information visit and follow us on @Hub71AD #Hub71. Media contacts: Zoe Saunders, TechHubEdelman@
