It gives me great pleasure to inform you that Pakistani startups are gaining international attention. A startup digital bank recently announced its intention to join the UAE’s system. Pakistan’s first digital bank is among the 16 new companies that have joined Hub71, Abu Dhabi’s global innovation ecosystem.

By establishing offices in Abu Dhabi, the new startup cohort, which has already raised over Dh231 million in capital, will be able to build sophisticated technologies and have access to Hub71’s market, investment, and talent.

Badr Al-Olama, interim CEO of Hub71, commented, “Our first cohort of the year indicates our goal of matching our speed with that of global digital startups with the best development potential.”

Early-stage companies from the FinTech, HealthTech, EdTech, and other sectors are among those accepted, with representatives from important international tech hubs including the UK, the US, and South Korea taking part. Trade Capital Partners, a platform that facilitates access to working capital for startups and small to medium-sized businesses in emerging countries, and Zywa, the Mena region’s first neobank for minors, are among the batch.

“What sets Hub71 distinct is our founder-centric strategy,” Al-Olama continued. “We focus on building leaders and teams to help entrepreneurs achieve exponential growth.”

Both Letswork, a UAE-based software that allows members to rent workplaces and work remotely from hotels, cafes, co-working spaces, and other unconventional locations, and Ostaz, a private tutoring platform for students to promote academic progress, have been accepted into the cohort.

“We believe in nurturing talent, and the entrepreneurs in this cohort are driven and eager to achieve their full potential,” Al-Olama added.

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The Dubai’s Sheikh Mohammed bin Rashid made changes to its government ministers and he announced their UAE 2031 AI strategy, which aims to make the government more efficient and streamlined by relying on AI technologies.

27-year-old Omar Bin Sultan Al Olama is the first UAE’s Artificial Intelligence minister. For the past year, Al Olama has been working as the Deputy Director of the Future Department, and he worked with Executive Committee of the World Government Summit since 2014.

“We want the UAE to become the world’s most prepared country for artificial intelligence,”said Prime Minister Shaikh Mohammad.

تم تعيين عمر بن سلطان العلماء وزير دولة للذكاء الاصطناعي. بعمر 27 نجح عمر بقيادة القمة العالمية للحكومات واستراتيجية الدولة للذكاء الاصطناعي pic.twitter.com/6efPGRllRV

— HH Sheikh Mohammed (@HHShkMohd) October 19, 2017

The UAE is the first nation in the world with a government minister dedicated to AI. These new ministries were part of a cabinet reshuffle approved after consulting with Shaikh Mohammad Bin Zayed Al Nahyan (the crown prince of Abu Dhabi and deputy supreme commander of the UAE Armed Forces.)  and then signed by President Shaikh Khalifa Bin Zayed Al Nahyan.

It is also important to mention that, Dubai is also investing in a number of hyperloop projects and even a plan to reach Mars.

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