OYO Hotels & Homes (OYO) has signed an agreement with Hub71, a global tech ecosystem based in Abu Dhabi Global Market Square, Al Maryah Island, to provide select accommodation to startups that have been granted Hub71’s Incentive Packages.
The accommodation is centrally located on Al Reem Island, two kilometers from Al Maryah Island. OYO will be leasing, fitting out and managing residential units for Hub71 residents, providing both furnished and unfurnished units.
“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,” says Mahmoud Adi, CEO of Hub71.
“We’re confident that our partnership with the global hospitality company will be monumental to the growth of Abu Dhabi’s tourism and tech scene,” he adds.
Group CEO and Founder of OYO Hotels & Homes Ritesh Agarwal comments: “We’re thrilled to partner with Hub71, offering OYO’s standardised 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.”
Startups can apply for Hub71’s Incentive Packages starting Q4 of 2019.