5 December 2023, Abu Dhabi – New Energy Nexus (NEX) today announces new opportunities for climate tech startups to grow in the United Arab Emirates (UAE)
New Energy Nexus is the Program Operator for Hub71’s new program to support early stage climate tech companies from around the world, and is partnering with the Abu Dhabi Investment Office (ADIO) to help growth and later stage climate tech companies set up and land in Abu Dhabi.
Danny Kennedy, CEO at New Energy Nexus, said: “One thing we’ve learnt from building entrepreneur support ecosystems in 12 countries for nearly 20 years is that good ideas and talk are not enough. We need capital, talent and demand. Diverse entrepreneurs are essential elements to the clean energy transition due to their ability to innovate quickly, disrupt industries, and launch and scale rapidly. And for its part, the UAE is a good place for clean energy startups to land and to find capital; as well as mentors, partners and customers. With ADIO and HUB71, we have well established partners to support startups around the world to access this huge potential and accelerate climate solutions across the region.”
Jamie Levy, Senior Advisor at ADIO, said: “We’re incredibly excited to be working with COP28 to host the New Energy Nexus COP28 Climate Tech Startup Accelerator to support 100 global climate tech startups. We’re attracting the world’s leading climate tech companies to Abu Dhabi to benefit from the Emirate’s positive and enabling investment environment. We empower companies by accelerating their growth, amplifying their impact and providing access to strategic opportunities across key markets and sectors.”
Ahmad Ali Alwan, Deputy Chief Executive Officer of Hub71, said: “As the world demands urgent climate action, we recognize the future hinges on innovative solutions. Startups are at the forefront of harnessing breakthrough technologies, so we created Hub71+ ClimateTech. This collaborative ecosystem offers a platform for climate innovators to thrive, with the support of world-class partners committing substantial capital and expertise. ClimateTech is not just a pathway to decarbonization but offers a solid foundation to contribute to a sustainable future for our planet. We are not only investing in the success of environmentally focused entrepreneurs but collectively empowering ClimateTech startups to scale globally from Abu Dhabi while making a positive impact that will further promote a net zero future.”
With ADIO, New Energy Nexus aims to strengthen capacity building of startups and increase their access to capital, strategic investors and the wider Abu Dhabi ecosystem.
Hub71 has launched with several partners a program called Hub71+ ClimateTech of which NEX is an implementing partner. Other partners of Hub71+ ClimateTech have committed over AED12 million (US$3.26 million) in 2024 to support the growth of climate tech startups, which will be able to leverage the knowledge and expertise of more than 25 corporate and investment partners and policymakers. This access will enable startups to explore commercial opportunities and tap into venture capital partners and investors looking to make impactful investments in climate tech.
Startups will also enroll in a customized and sector-specific three-month course to receive expert mentorship, tailored advice and critical support. Additionally, the supporting partners will collaborate to explore the future of climate tech, funding availability for climate ventures and pathways for startups to play a more significant role in the journey to Net Zero.
About Hub71
Hub71 is Abu Dhabi’s global tech ecosystem that enables founders to build globally enduring homegrown tech companies in any sector by providing access to global markets, a capital ecosystem, a global network of partners, and a vibrant community filled with highly skilled talent, governed by forward-thinking regulation.
Backed by the Government of Abu Dhabi and Mubadala Investment Company, Hub71 is growing its vibrant community of tech startups, investors, government, and corporate partners to ensure the availability of investment, commercial activities, and incentives from the public and private sectors. Through Hub71’s entrepreneurial infrastructure, value-add programs, enabling services and support packages, founders can build and scale widely adopted technologies with purpose and impact. Hub71 is on a mission to introduce new minds and technologies to Abu Dhabi, finding new ways to build globally enduring technology companies and sustain the nation’s continuous economic development.
For more information visit www.hub71.com and follow us on @Hub71AD #Hub71.
About Abu Dhabi Investment Office (ADIO)
The Abu Dhabi Investment Office (ADIO) enables local, regional and international investors to thrive and grow in the UAE capital through its close collaboration with government partners, sovereign investors, and national champions. ADIO is Abu Dhabi’s premier platform that empowers the private sector to grow, partner and compete globally by providing access to growth opportunities, strategic partnerships and new markets across key sectors that range from real estate and infrastructure, to industries and agribusiness, enhancing the nation’s investment in talent, innovation and sustainability.
With a growing network of global offices, investors can contact ADIO by visiting its head office in Abu Dhabi or international offices located in Beijing, Frankfurt, London, New York, Paris, San Francisco, Seoul, and Tel Aviv.
Visit https://www.investinabudhabi.gov.ae for more information.