The Emirates Progress Fund (EGF), the UAE’s flagship AED 1billion development fairness platform, and Hub71, Abu Dhabi’s world tech ecosystem, have signed a strategic Memorandum of Understanding (MoU). The partnership is geared toward advancing the expansion and competitiveness of small and medium enterprises (SMEs) and growth-stage firms inside their respective portfolios.
Signed throughout Abu Dhabi Finance Week, the settlement establishes a coordinated framework to take a position development capital, broaden business pathways, and strengthen operational readiness for companies. The collaboration reinforces each entities’ shared mission to raise the non-public sector and help the UAE’s long-term financial diversification agenda.
Capital and mentorship for scaling firms
Beneath the brand new framework, EGF and Hub71 will work collectively to deploy development capital and supply strategic help to high-potential ventures. The partnership combines Hub71’s ecosystem of high-performing startups with EGF’s monetary muscle, aiming to construct a stronger pipeline of aggressive, scalable enterprises that may contribute to the nation’s financial improvement.
Khalifa Al Hajeri, CEO of the Emirates Progress Fund, commented: “Our collaboration with Hub71 represents a pure alignment between two nationwide platforms devoted to supporting the UAE’s financial future. By combining our respective strengths, we’re empowering SMEs and growth-stage firms to scale, compete, and contribute meaningfully to the nation’s diversified development agenda. Hub71 is the pure house for Abu Dhabi’s founders and is strategically positioned to help us in figuring out growth-stage companies.”
Strengthening Abu Dhabi’s financial clusters
The partnership additionally displays a broader technique to strengthen financial clusters and deepen sector experience in Abu Dhabi. Hub71 has been instrumental in scaling specialist ecosystems and attracting world startups to the area. By leveraging EGF’s mandate to spend money on essential sectors similar to manufacturing, meals safety, healthcare, and superior expertise, the collaboration goals to speed up the event of companies positioned to generate sustained nationwide worth.
Ahmad Ali Alwan, CEO of Hub71, added: “Our partnership with EGF brings collectively Hub71’s founder-focused ecosystem with EGF’s development capital and help for UAE-based firms. By combining our mentorship, applications, and community entry with EGF’s scale-up capital, we can provide high-potential ventures the pathway and confidence to develop sustainably. Saying this collaboration at Abu Dhabi Finance Week displays our shared dedication to enabling founders to construct sturdy, long-lasting companies.”
The Emirates Progress Fund, backed by the Emirates Growth Financial institution (EDB), was established to bridge the funding hole for SMEs and supply long-term capital to assist companies develop sustainably and innovate.
