Hub71 has signed a partnership with Siemens Energy to identify key clean and climate technology startups with the aim of exploring investment opportunities that can drive the clean energy transition.
Hub71 and Siemens Energy will support tech startups in developing innovative technologies that directly address global climate change.
The partnership will support the UAE’s ability to drive investment in green infrastructure and clean energy projects, both locally and globally.
Siemens Energy will also provide select startups with strategic mentorship by participating in knowledge-sharing platforms, leveraging its expertise in developing sustainable, reliable and affordable clean energy technologies.
He will also explore opportunities to participate in Hub71’s value-driven programs focused on improving market access and fundraising potential. These programs include Ventures Lab, a business builder by Hub71 and Modus Capital, which helps exceptional entrepreneurs turn ideas into market-leading companies.
Additionally, Siemens Energy will consider participating in Hub71’s The Outliers program designed for technology startups worldwide to solve real industry challenges for businesses and government agencies.
In an effort to increase the number of clean and renewable energy startups, Hub71 will fast-track companies referred by Siemens Energy to its incentive program which offers founders up to MAD 500,000 in incentives and benefits, including including installation and operational support.
Badr Al-Olama, Acting CEO of Hub71, said, “Our partnership with Siemens Energy reinforces the importance of the energy transition as the world moves towards more sustainable and renewable energy sources.
“The powerful combination of technology and entrepreneurship increases our ability to meet global challenges and, by capitalizing on the expertise of Siemens Energy, we will focus our efforts on attracting leading cleantech and climate startups. to establish a presence in Hub71 so that we can pool our combined efforts to reduce emissions and promote a low-carbon economy.
Kendra Rauschenberger, General Partner of Siemens Energy Ventures, said: “Accelerating the energy transition requires investment, innovation and partnerships. It’s through collaborating with sustainability-focused, forward-looking organizations like Hub71 that we’ll transition faster. We are excited to work with Hub71 to identify and support startups, and to leverage our vast resources in innovation, finance and strategic development, to accelerate the development of tomorrow’s technologies, today. .
In addition, Hub71 has selected its latest cohort of tech startups. Over the next two years, the new cohort will participate in Hub71’s incentive program, benefiting from capital-free incentives worth up to Dhs 500,000. They will also have access to active investors, companies, governments and academic partners.
Read: Abu Dhabi’s Hub71 accepts second cohort of tech startups