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Hub71 Partners With Hospitality Chain, Oyo Hotels & Homes, To Offer Accommodation To Entrepreneurs In Abu Dhabi

Hub71, a global tech ecosystem based in Abu Dhabi Global Market Square, Al Maryah Island, has signed an agreement with OYO Hotels & Homes (OYO), the world’s fastest-growing chain of hotels, homes and living spaces. OYO will provide select accommodation to startups that have been granted Hub71’s Incentive Packages. Since its launch in 2013, OYO has brought about a change in the hotel franchising and leasing segment by offering standardized quality hospitality experiences to travellers and residents from all around the world at affordable prices.
The accommodation is centrally located on Al Reem Island, two kilometres from Al Maryah Island. OYO will be leasing, fitting out and managing residential units for Hub71 residents, providing both furnished and unfurnished units. Earlier last month, as part of Hub71’s Incentive Package, it was announced that WeWork will provide subsidized office spaces from early 2020.
Mahmoud Adi, CEO of Hub71, said: “Hub71 is designed to support global startups during the most important phase of growth; furthermore, we’re delivering on our promise of building a solid ecosystem based on strong partnerships and collaborations with both international and local players. Through our partnership with OYO, we will offer free leases for startups with up to five employees for two years, and 50% subsidized leases for startups with up to 25 employees for three years. Not only is Hub71 supporting startups with mentorship and improved market access, but we’re directly adding value to their bottom line. We are confident that our partnership with the global hospitality company will be monumental to the growth of Abu Dhabi’s tourism and tech scene.”

Today, OYO Hotels & Homes hosts guests from around the world in over 23,000 hotels and over one million rooms under management.

Group CEO and Founder of OYO Hotels & Homes, Ritesh Agarwal, commented: “We are thrilled to partner with Hub71, offering OYO's standardized accommodation to startups. We understand that running a successful company demands razor-sharp focus on solving a problem, and with OYO as a trusted accommodation partner, the young entrepreneurs, founders and their families will have one less thing to worry about as they solve modern-day problems, while adding value to Abu Dhabi's entrepreneurial ecosystem.”

As a flagship Ghadan 21 program working to accelerate Abu Dhabi’s new world economy, Hub71 is bringing together global partners to create the optimal environment for startups. Mubadala Investment Company leads the tech hub in partnership with Microsoft and SoftBank Vision Fund along with Abu Dhabi Global Market, creating a unique global ecosystem.

About Hub71
Hub71, named after the UAE’s formation in 1971, is a tech ecosystem located in the heart of Abu Dhabi that brings together several key elements for startup success: access to capital, access to market opportunities, and a favorable business environment. Backed by Mubadala Investment Company – its growing international tech community of tech giants, venture capitalists, tech ecosystem players, and global startups can expect to benefit from an interconnected global network. Alongside strategic partners Microsoft, SoftBank Vision Fund, and Abu Dhabi Global Market; Hub71 is creating the optimal environment for transformative tech companies looking to maximize success, produce outstanding tech innovations, and scale globally. For the greater social and economic good of Abu Dhabi, Hub71 is a flagship initiative of the Dh50 billion economic accelerator program ‘Ghadan 21’, which means ‘tomorrow’ in Arabic.

About OYO Hotels & Homes
Opening its doors in 2013, OYO Hotels & Homes is the world’s third-largest chain of hotels, homes, managed living and workspaces. The portfolio combines fully operated real estate comprising of more than 23,000 hotels and 46,000 vacation homes. OYO along with Vacation Homes categories managed by the company under OYO Homes, Belvilla and Dancenter brands can be found in more than 800 cities in 80 countries, including the U.S., Europe, U.K., India, Malaysia, Middle East, Indonesia, Philippines, and Japan.

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