Hub71, the global technology ecosystem based in Abu Dhabi, has unveiled the Hub71+ ClimateTech program, a dedicated initiative to support startups focusing on climate technology. The announcement was made during the COP28 climate conference in Dubai, showcasing a robust commitment to fostering innovative solutions for climate challenges. The program has garnered support from over 25 influential local and international partners, with substantial funding commitments from leading public and private organizations in the UAE.

A total of 342 startups eagerly submitted their applications, and the evaluation process is currently underway, with the top 100 startups being carefully reviewed. Those selected to participate in the program will benefit from Dh250,000 ($68,000) in incentives along with an initial Dh250,000 in cash support. Notably, high-performing startups stand the chance to receive an additional top-up of up to Dh250,000 in exchange for equity.

Adnoc, as the program's founding partner, has demonstrated its commitment by pledging Dh2.5 million, with the possibility of further investments for the startups involved. Collaborating entities such as the Ministry of Climate Change and Environment, the Ministry of Energy and Infrastructure, and the Abu Dhabi Department of Energy will work alongside Hub71 to establish robust frameworks for testing and developing the solutions proposed by participating startups.

Anchor partners, including Taqa, Tabreed, ADQ, Mubadala, Aldar Properties, and others, are contributing valuable resources, expertise, and industry experience to support the startups in their climate-focused endeavors.

This initiative aligns with the UAE's proactive approach to a green agenda, encompassing ambitious goals such as achieving net-zero emissions by 2050 and a 40% reduction in carbon emissions by 2030. The Hub71+ ClimateTech program reflects the country's commitment to becoming a hub for innovative climate solutions and contributing to global sustainability efforts.

In recent years, ClimateTech startups in the UAE have seen significant funding, securing about $401 million from 2018 to 2022. This initiative not only reinforces Hub71's role as a thriving technology ecosystem but also underscores its dedication to fostering groundbreaking solutions in the crucial field of climate technology.