Techstars Announces Accelerator In Abu Dhabi, Second Accelerator In UAE

BOULDER, Colo., July 23, 2019 /PRNewswire/ -- Techstars, the worldwide network that helps entrepreneurs succeed, today announced the launch of the Techstars Hub71 Accelerator. In partnership with Hub71, an Abu Dhabi-based global technology hub led by Mubadala Investment Company, the new 13-week mentorship-driven accelerator will provide hands-on mentorship and guidance as well as access to Techstars' worldwide network, to help startups gain traction and accelerate their businesses for global success.

The Techstars Hub71 Accelerator will be based at Hub71 in the capital of the United Arab Emirates, Abu Dhabi, and will be led by tenured Techstars Managing Director, Vijay Tirathrai. For the past two years, Tirathrai has served as Managing Director of the Techstars Dubai Accelerator in Partnership with GINCO and will now add Managing Director of the Techstars Hub71 Accelerator to his repertoire. Tirathrai brings over 30 years of international serial entrepreneurship, business development, investment, and mentorship experience to the program. The Techstars Hub71 Accelerator will accept 10 startups on an annual basis and is open to startups addressing technology innovations across a variety of business verticals.

"The Techstars Hub71 Accelerator combines the strength of Techstars and Hub71's networks to deliver an extraordinary experience for the founders who will join us next year in Abu Dhabi," said Tirathrai. "Merging Techstars expertise in startup mentorship and innovation with Mubadala and Hub71's experience in the world is the perfect recipe for a successful and incredibly impactful program." 

"We are excited to partner with Techstars to launch this mentorship-driven accelerator and look forward to starting the first year of the Techstars Hub71 Accelerator here in Abu Dhabi," said Ahmad Alwan, Head of Strategy and Corporate Development at Hub71. "We are committed to creating an optimal environment for technology startups right here in Abu Dhabi, where through this program, founders with exceptional ideas and talent will come together. Not only will these startups benefit from hands-on mentorship and exposure to global investors, but they will have the opportunity to join a network of successful and respected Techstars alumni." 

Applications for the program open today and will be accepted through October 13, 2019. The program will run from January 2020 to April of 2020 culminating in a demo day in mid April 2020 where the startups will pitch their accelerated business models to investors and industry leaders.

Startups interested in learning more about the program are encouraged to contact Techstars or visit https://techstars.com/programs/techstars-hub71-program/ to learn more.

About Techstars
Techstars is the worldwide network that helps entrepreneurs succeed. Techstars founders connect with other entrepreneurs, experts, mentors, alumni, investors, community leaders, and corporations to grow their companies. Techstars operates three divisions: Techstars Startup Programs, Techstars Mentorship-Driven Accelerator Programs, and Techstars Corporate Innovation Partnerships. Techstars accelerator portfolio includes more than 1,900 companies with a market cap of $22 Billion. www.techstars.com

About Hub71
Hub71 is a global ecosystem located in the heart of Abu Dhabi offering an interconnected network to enable innovation and growth opportunities for transformational tech companies and startups, creating an environment where entrepreneurs can thrive. It is a flagship initiative of the 'Ghadan 21' program working to accelerate Abu Dhabi's economy. Alongside strategic partners Microsoft, SoftBank Vision Fund, Abu Dhabi Global Market and Mubadala, Hub71's mission is to create an optimal environment for outstanding innovation making economic and social impact. Supported by world-leading technology companies, venture capitalists, and exceptional talent, Abu Dhabi's Hub71 offers a community of world-class innovators and access to capital required to help start-ups and entrepreneurs develop, scale and build transformational businesses. For more information visit www.hub71.com and follow us on @Hub71AD #Hub71AD.

About Mubadala Investment Company
Mubadala Investment Company actively manages a worldwide portfolio supporting the vision of a globally integrated and diversified economy, through sustainable returns to its shareholder, the Government of Abu Dhabi. Mubadala's US $225 billion portfolio spans five continents with interests in aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, defense services, pharmaceuticals and medical technology, agribusiness and a global portfolio of financial holdings. Mubadala has over a decade of experience of investing in the technology sector, beginning in 2007 when it acquired a significant stake in Advanced Micro Devices (AMD). Mubadala Ventures sits within Mubadala Capital, the company's financial investment division. With headquarters in San Francisco, California, Mubadala Ventures oversees and manages Mubadala's $15 billion commitment to the SoftBank Vision Fund. Mubadala is a trusted partner, an engaged shareholder and a responsible global company that is committed to ethics and world-class standards. For more information about Mubadala, please visit: www.mubadala.com

SOURCE Techstars