Abu Dhabi, the capital of the United Arab Emirates (UAE), recently launched Hub71+ Digital Assets, a platform that connects startups to the TON Foundation’s crypto ecosystem.
This initiative has opened up the opportunity for startups to tap into a $2 billion hub, which aims to provide access to capital, mentorship and resources.
This is part of Abu Dhabi’s broader strategy to attract and nurture innovative technology companies and position itself as a leading hub for technology innovation in the region.
Summary
The crypto ecosystem of TON and Hub71
The TON Foundation, which stands for The Open Network, is a decentralized blockchain network that aims to provide secure and scalable solutions for businesses and individuals.
The Open Network (TON) is a revolutionary technology to unite all blockchains and Web2 internet into one open network. It was born to empower billions of Telegram users with genuine Web3. Originally introduced by the Telegram team inheriting its freedom and openness ethos, it has been run as an open-source community project since 2020.
Hub71, on the other hand, is a startup hub launched in 2019 by the Abu Dhabi government. The hub has already attracted a number of high-profile startups, including Careem, the ride-hailing giant acquired by Uber in 2019, and Sarwa, a robo-advisory platform.
Hub71 offers startups access to capital, mentorship and resources, as well as a community of like-minded entrepreneurs.
Hub71+ Digital Assets is the latest addition to Hub71’s offerings and aims to provide start-ups with access to the TON Foundation ecosystem.
Through this platform, startups will be able to tap into the TON Foundation’s resources, including its expertise in blockchain technology, as well as its extensive network of partners and investors.
The platform will also provide startups with access to The Open Network Foundation’s native token, TONcoin (TON), which can be used to access various services within the ecosystem. The launch of Hub71+ Digital Assets has been welcomed by the startup community in Abu Dhabi and beyond.
Many see it as an important step toward establishing Abu Dhabi as a leading hub for technology innovation in the region.
The platform is expected to attract a wide range of startups, from those working on blockchain-based solutions to those developing artificial intelligence and machine learning technologies.
This innovation is part of Abu Dhabi’s broader strategy to attract and nurture innovative technology companies. The UAE has long been an oil and gas hub, but in recent years the government has been actively promoting diversification.
The launch of Hub71 in 2019 was part of this strategy, and since then the hub has attracted many high-profile startups from around the world. The launch of Hub71+ Digital Assets is expected to build on this success and attract even more innovative companies to the region.
In addition to providing start-ups with access to capital and resources, Hub71+ Digital Assets also aims to provide a supportive community for entrepreneurs. The platform will provide start-ups with access to mentoring and guidance from industry experts, as well as networking opportunities with other entrepreneurs.
This aspect of community is considered a key factor in the success of many start-ups, and the launch of Hub71+ Digital Assets should provide a vibrant and supportive community for entrepreneurs in Abu Dhabi. Furthermore, it should also have a positive impact on Abu Dhabi’s economy in general.
The government has been actively promoting innovation and entrepreneurship in recent years, and the launch of Hub71+ Digital Assets is considered an important step toward achieving this goal.
The platform is expected to attract investment and talent to the region, as well as create new jobs and opportunities for local people.
The launch of “Hub71+ Digital Assets”
Overall, the launch of Hub71+ Digital Assets represents a significant development for the startup ecosystem in Abu Dhabi and the region at large.
By providing startups with access to the TON Foundation ecosystem, Hub71+ Digital Assets gives entrepreneurs the tools and resources they need to create innovative solutions that can transform industries and drive economic growth.
The TON Foundation ecosystem is particularly well suited to support startups that focus on blockchain technology. This technology has the potential to disrupt a wide range of industries, from finance to logistics to healthcare, and is already being used by numerous startups around the world.
With the new launch, Abu Dhabi startups now have access to one of the world’s leading blockchain networks.
This will enable them to create new solutions and products that leverage the benefits of blockchain, such as increased security, transparency and efficiency.
The platform will also provide startups with access to the TON Foundation’s vast network of investors and partners, which can help them raise capital and scale their businesses.
In addition to blockchain-based startups, Hub71+ Digital Assets is also expected to attract startups working on a wide range of other technologies, including artificial intelligence, machine learning, and the Internet of Things.
