Hub71, Abu Dhabi’s global tech ecosystem, has signed a partnership with Siemens Energy to support tech startups in developing innovative technologies that directly address global climate change.
The agreement comes at a time when the UAE is set to host COP28 in 2023 and is reinforcing its commitment towards achieving net-zero by 2050. The partnership will support the nation’s ability to drive investments in green infrastructure and clean energy projects both locally and globally, the companies said in a joint press release.
As part of the agreement, Hub71 and Siemens Energy will identify prominent CleanTech and ClimateTech startups to explore investment opportunities that have the potential to accelerate energy transition. Siemens Energy will also provide select startups with strategic mentorship by participating in knowledge sharing platforms, building from its expertise in developing sustainable, reliable, and affordable clean energy technologies.
According to the press release, Siemens Energy will participate in Hub71’s value-driven programs focused on increasing market access and the potential for fundraising.
Additionally, Siemens Energy will explore participating in Hub71’s The Outliers program designed for tech startups worldwide to solve real industry challenges of corporate and government bodies.
“Our partnership with Siemens Energy reinforces the importance of energy transition as the world pivots towards more sustainable and renewable energy sources,” said Badr Al-Olama, acting CEO of Hub71.
Kendra Rauschenberger, general partner at Siemens Energy Ventures said, “Accelerating the energy transition requires investment, innovation, and partnership. It is through collaboration with sustainability-focused and forward-looking organizations like Hub71 that we will transition faster.”
Hub71 is home to over 170 startups operating in sectors including CleanTech, HealthTech, EdTech and FinTech which are suporting Abu Dhabi’s economy and ensuring its long-term prosperity.
