Abu Dhabi Commits $2 Billion to Support Web3 Startups

In an effort to provide a supportive environment for Web3 and blockchain startups, the Hub71+ program is set to provide up to $2 billion in funding and resources, including access to capital and business networks.

The initiative also promises to provide a range of support to startups, such as acceleration programs, mentorship, and access to corporate, government, and investment partners. In addition, startups that join the Hub71+ program will receive a range of benefits, including access to the FABRIC network, crypto exchanges, and service providers.

Also, initiative will focus on the development of the Abu Dhabi startup ecosystem, providing funding, mentorship, and support to businesses relocating to the city.

The Hub71+ initiative is part of Abu Dhabi’s larger focus on developing a technology-driven economy and is the latest move by the city to attract more blockchain and Web3 startups.

By providing access to funding, mentorship, and other resources, the initiative aims to create a supportive and conducive environment for tech startups to thrive.

By backing new startups and providing them with resources, Hub71 and the government of Abu Dhabi are looking to help shape a vibrant blockchain and Web3 ecosystem in the Middle East.