Abu Dhabi's 'Hub71' Nurturing Web3·AI Unicorns… "Expanding Cooperation with Korea" [Cointerview]

Interview with Peter Abou Hachem, Head of Growth and Strategy at Hub71

Abu Dhabi government-backed startup platform

Home to 370 startups… raised 2 billion dollars

Launch of Web3·AI-dedicated ecosystem 'Hub71+'

"Cooperation with Korea… a hub connecting Asia and the Middle East"

The Abu Dhabi government-backed startup platform Hub71, supported by the sovereign wealth fund Mubadala, is embarking on full-scale global expansion.

Peter Abou Hachem, Head of Growth and Strategy at Hub71, said in an interview with Bloomingbit on the 10th, "Hub71 is not designed to look only at the Abu Dhabi market but to create an ecosystem where unicorns can be born on the global stage," adding, "With support from the government and the sovereign wealth fund, we will use Abu Dhabi as a base to enter the global market."

Since its founding in 2019, Hub71 has operated a partnership-based model connecting startups, large corporations, investors, and regulators, establishing itself as a global technology ecosystem centered on Web3 and artificial intelligence (AI). Currently, 370 startups are based there, and more than 150 global partners are active.

So far, the companies in its network have raised over 2 billion dollars, and revenues amount to about 1.2 billion dollars. Twenty percent of all transactions were completed through Hub71's company connections. Hachem said, "We call this 'value creation'" and emphasized, "When a startup joins, we connect it with suitable investors, customers, and talent pools to support revenue generation and fundraising."

In particular, 'Hub71+ Digital Assets', launched in 2022, has attracted attention as a Web3-dedicated ecosystem. The ecosystem was designed based on ADGM's regulatory framework and includes participation from global Web3 companies such as Solana·Sui·Binance Labs. Selected startups can access Hub71's regulatory, funding, customer, and talent networks along with incentives of up to $120,000.

However, the investment and selection processes are strict. The founder's capabilities, market fit, regulatory feasibility, revenue, and fundraising history must be supported. Companies must also establish a legal entity in Abu Dhabi and have at least one founder reside there during the program period. Hachem said, "We place importance on whether they can bring value to Abu Dhabi, the so-called 'Abu Dhabi angle'," adding, "VCs, regulators, and customers directly participate in the selection process to actively support investment, regulatory, and customer opportunities."

Cooperation with Asian markets centered on Korea is also expanding. In Korea, Hub71 has formed a partnership with blockchain VC Hashed. Hachem said, "Korean startups have very strong technological capabilities and talent levels, and cultural similarities make cooperation smooth," and added, "Korea, Japan, and others have complementary relationships with Abu Dhabi. Hub71 will strengthen its role as a hub connecting Asia, the Middle East, and the West."

He also emphasized the potential combination of blockchain and AI. "Blockchain offers decentralization and borderless connectivity, while AI provides speed and efficiency," Hachem said. "The combination of the two technologies will be the most powerful combination in the global digital society," he added, noting that blockchain and AI will act as enablers across various industries such as healthcare and climate tech.

Duhyeon Hwang, Bloomingbit reporter cow5361@bloomingbit.io