Abu Dhabi’s Hub71 and Wemix collaborate to fuel growth for blockchain startups

Korean blockchain developer Wemix and Hub71, Abu Dhabi’s global tech ecosystem, have signed a memorandum of understanding (MoU) to create and accelerate growth opportunities for their respective portfolio companies and Web3 startups.

As part of the partnership, Wemix startups will have the opportunity to join Hub71’s community of over 200 startups and gain access to its range of value-add programmes and incentives.

Select startups will also benefit from the ability to scale globally through Hub71’s Web3 and digital assets specialist ecosystem, Hub71+ Digital Assets, to unlock access to a host of programmes, initiatives, and wide network of corporate, government and investment partners in the UAE and global markets.

At the same time, startups within Hub71+ Digital Assets will be able to leverage the technical knowledge and expertise of Wemix and its parent, Wemade, in different areas of blockchain technology including GameFi and DeFi.

“Developing strong partnerships with key stakeholders like Hub71 is an important part of our commitment to growing the blockchain ecosystem in the MENA region,” said Shane Kim, CEO of Wemix.

“We are confident that this partnership will accelerate the creation of more opportunities for blockchain startups from across the world looking to expand into the Middle East and help realise our vision of developing a global blockchain economy powered by a wide spectrum of innovative applications that evolve past traditional technology barriers to drive sustainable future innovation.”

Elodie Robin Guillerm, head of Growth and Strategy at Hub71, said: “The addition of Wemix to our Hub71+ Digital Assets ecosystem is testament to the growth potential there is to be seized from Abu Dhabi.

Hub71 truly values partnership and collaboration and by joining forces with leading blockchain companies like Wemix, we can work together towards developing industry leading blockchain technologies to give rise to more opportunities for Web3 startups.”

The Wemix and Hub71 partnership will offer key advantages including:

• Wemix will become the latest partner to join Hub71+ Digital Assets and its ecosystem of leading regional and global partners of digital asset exchanges and service providers, technology providers, venture studios, venture capital funds and blockchain platforms.
• Fast tracking of applications by Wemix startups to join the Hub71 Incentive Programme, designed to alleviate the cost and processes of setting up in Abu Dhabi.
• Dedicated resources for mentorship and technical support will be provided by Wemix to Hub71 GameFi and DeFi startups.
• Facilitate access for Hub71 startups to access Wemix’s global Web3 community.
• Blockchain companies within the Wemix ecosystem will also gain access to Hub71+ Digital Assets.

Strengthening the regional and global blockchain startup ecosystem

Wemade, the parent of Wemix, oversees a global portfolio of strategic investments that include India-based Shardeum – the world’s first EVM (Ethereum Virtual Machine)-based sharded blockchain mainnet; Metaverse Magna (MVM), Africa’s first and biggest gaming DAO; and Kasa, a blockchain-based digital asset-backed securities (DABS) trading platform with a focus on proptech.

Most recently, Wemade signed a strategic MoU with Haskey Capital – a global asset manager investing exclusively in blockchain technology and digital assets which manages over $1bn in client assets since its inception – to jointly nurture promising Asian blockchain companies.

Read: Saudi Arabia partners with South Korea’s Wemade to enhance gaming and blockchain sector