ⓘ Image source: WeWork.com
Abu-Dhabi’s technology park Hub 71 on Monday (3 February) launched WeWork x Hub 71, the first coworking space by WeWork in the Middle East.
The workspace exhibits startups, venture capitalists, accelerators and tech entrepreneurs. Along with the launch, Hub 71 also announced four new innovative start-ups joining their incentive programme which includes UAE-based fintech companies Sarwa and Denarii Cash.
As reported by Gulf News, the acting CEO of Hub 71 and the head of ventures at Mubadala Capital Ibrahim Ajami affirmed that problems which WeWork has been delved into don’t concern Hub 71. According to Ajami, bringing WeWork to Hub71 is part of its strategy to grow its community of startups and innovators.
“Absolutely not… from a mubadala perspective we are investors in the Softbank vision fund and we work as one company as a part of that portfolio.”
“Obviously WeWork had to go through its own reset… but from a Mubadala investment perspective the WeWork investment is one in that portfolio and Mubadala is committed to technology investments globally… and we will continue with our strategy.”
Other statements surrounding the launch
“I feel potential, I feel like there’s something new here and that really connects me to an energy that brings me right back to 10 years ago when we first started,”
Miguel McKelvey, co-founder, WeWork
“We are excited to open our first WeWork in the UAE, with a beautifully designed workspace for Abu Dhabi’s vibrant community of entrepreneurs and businesses to connect, collaborate, and grow. This unique collaboration with Hub71 means we can deliver an unrivalled experience for our new members, with a fantastic local partner. Abu Dhabi is an international hub for businesses, technology innovation and entrepreneurship, making it the perfect place for WeWork to expand our global platform and better serve our members.”
– Riad Thoumas, WeWork UAE General Manager said:WeWork
“The launch of the new WeWork x Hub71 is another positive proof point for Abu Dhabi’s tech and startup ecosystem. Our mission is to provide entrepreneurs with community support and market access as they grow their businesses. The WeWork x Hub71 community is a fundamental part of our strategy to enable entrepreneurs with differentiated offerings.”
– Ibrahim Ajami, Head of Ventures, Mubadala Capital, and Acting CEO of Hub71WeWork