Abu Dhabi’s Hub71 launches programme to support climate technology start-ups at Cop28

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Hub71, Abu Dhabi’s global technology system, has launched a programme to support climate technology start-ups, backed by some of the UAE’s biggest public and private sector organisations.

The Hub71+ ClimateTech ecosystem was announced at the Cop28 climate conference in Dubai on Tuesday, with funding commitments from more than 25 key local and international partners.

A total of 342 start-ups submitted their applications, with 100 being reviewed, of which “the best” will be included in a further shortlist, Ahmad Alwan, deputy chief executive of Hub71, told media before the announcement.

Selected start-ups will receive Dh250,000 ($68,000) in incentives and an initial Dh250,000 in cash support.

Those deemed to be high performers can receive a top-up of up to Dh250,000 in exchange for additional equity, Hub71 said.

“This initiative aims to bring in different entities that have a shared mission towards climate tech and that could contribute to their business,” Mr Alwan said.

“Throughout the journey, we will support these companies, not only from being start-ups to becoming mature companies, but also to facilitate their engagement with entities that would support them with access to capital, market and talent.”

Adnoc, the programme’s founding partner, has pledged Dh2.5 million, in addition to further potential investments for participating start-ups.

The Ministry of Climate Change and Environment, the Ministry of Energy and Infrastructure, the Ministry of Industry and Advanced Technology, the Abu Dhabi Department of Energy and the Abu Dhabi Global Market have been announced as policymakers.

These entities will collaborate with Hub71 to establish frameworks that will test and develop the solutions to be pitched by the participating start-ups.

Abu Dhabi National Energy Company and the National Central Cooling Company, two of the biggest utilities in the Mena region better known as Taqa and Tabreed, respectively, have each committed Dh500,000 as anchor partners.