Digital assets infrastructure provider for financial institutions, Fuze Finance has been chosen as one of 15 startups to participate in Abu Dhabi’s Hub 71 2023 cohort.
As per the website of Fuze Finance, the company was purpose built for the Middle East because the company believes the Middle East will be the epicentre of digital asset innovation.
The MENA market, is seeing rapid growth in digital assets. Digital asset transactions of over $566 billion from June 2021 to June 20 22, 48% more than the year prior.
Fuze was among 15 startups chosen because it is aligned to Abu Dhabi’s strategic ambitions, including healthtech, fintech and edtech firms. The addition of the latest cohort has increased the size of Hub71’s ecosystem to more than 240 startups.
In the latest cohort, 67 per cent of the selected startups are headquartered outside the UAE, reinforcing the increasing the status of Abu Dhabi as a global innovation and business hub.
The 15 startups originate from the UAE, US, New Zealand, Egypt, the Netherlands, and the UK.
The full list of startups joining Hub71 include:
Cypherleak is a cost-effective risk monitoring solution that allows companies to gain visibility on their leaked data and provides attack surface management, vulnerability scanning, and risk scoring solutions.
Elmawkaa is a marketplace for building materials. An automated process provides contractors and engineers access to competitive and accurate quotations for their materials from vetted suppliers in a few minutes.
Exsurgo uses neuroscience and data analytics to develop treatments for neurological conditions without using pharmaceutical drugs.
Fuze is a full-stack digital assets infrastructure platform, enabling MENA businesses to integrate embedded experiences for their customers in a regulatory and compliant way.
Inovat is a digital VAT refund solution that allows travellers to save more than 20 per cent in tax refunds on shopping without the need to complete any paperwork or stand in airport queues.
LivLyt is democratising access to the latest tech devices through subscriptions, which provides a more affordable, flexible, and convenient solution than alternative options.
Mashvisor is a platform that combines all services needed for real estate investing, cutting three months’ worth of research down to only 15 minutes.
MediJobs is a platform that enables highly skilled healthcare professionals to connect with an exclusive network of top-tier practices hiring in their area.
Ovasave is a tech platform that leverages innovative solutions to provide women access to seamless, integrated, digitally enabled fertility and egg-freezing services across a vetted network.
Rabbit Mart is a grocery service with tech-enabled, hyper-local fulfillment centres.
SubsBase is a subscription management platform that empowers businesses with recurring payments to manage customers’ lifecycles seamlessly and efficiently.
Synapse Analytics is a data science, machine learning, and artificial intelligence company that offers services and products to help organisations better use and monetise their data.
The Editing is a compact gene editing system that uses endogenous proteins to cure life-threatening genetic disorders.
Qureos is a platform that makes mentorship, portfolio building, and matching jobs simple for graduates transitioning to the workplace.
Zest Equity is a platform for all venture investors that democratises access to venture transactions across emerging markets.
Substantial rise in applications from startups
Hub71 received a 70 per cent increase in applications to join the startup community compared to the previous cohort, including a significant increase in high-quality early-stage startups looking at setting up in Abu Dhabi.
Ahmad Ali Alwan, deputy CEO of Hub71, said,“Each startup has undergone a rigorous selection process, having been selected based on their unique capabilities and potential to grow as a global tech company out of Abu Dhabi. Our first cohort of 2023 is comprised of companies that have showcased a competitive edge in building differentiated tech platforms and products. By attracting and scaling startups with solutions that make a difference in people’s lives, we aim to make an impact on Abu Dhabi’s economy and society and continue bolstering its position as a leading global innovation hub.”
