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bangalore : The Abu Dhabi Investment Office (ADIO), the government entity that helps attract companies and investors from the Gulf emirate, is seeking Indian startups to establish a base in the region to expand the local economy beyond hydrocarbons.
bangalore : The Abu Dhabi Investment Office (ADIO), the government entity that helps attract companies and investors from the Gulf emirate, is seeking Indian startups to establish a base in the region to expand the local economy beyond hydrocarbons.
ADIO is negotiating with companies mainly focused on industries such as financial services, tourism, agricultural technology (agtech), ICT (information communication technology), as well as medical services and biopharmaceuticals.
ADIO is negotiating with companies mainly focused on industries such as financial services, tourism, agricultural technology (agtech), ICT (information communication technology), as well as medical services and biopharmaceuticals.
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“We support companies through our Investor Care service, assisting investors in obtaining information on data, networking, licensing, real estate, visas, banking and more. We connect investors with relevant interests in Abu Dhabi’s innovation ecosystem stakeholders and bring together the right partnerships to help them grow in the emirate,” said Abdulla Abdul Aziz AlShamsi, ADIO Acting Director General.
Through its $545 million Innovation Program, ADIO has supported more than 50 companies in the US, Europe and Asia to date. Over the past year or so, the partnership has expanded to three Indian companies – FreshToHome, ANSR and Talent500. The program provides financial and non-financial incentives to innovation-driven businesses in high-growth sectors.
“We help innovative international companies expand to Abu Dhabi, bringing them solutions in financial services, ICT, agtech and healthcare,” said AlShamsi.
“These international companies complement the existing ecosystem of local entrepreneurs and start-ups,” he said.
Global celebrities such as former French footballer Patrice Evra, former American basketball player Metta Sandiford-Artest and Indian-American author and alternative medicine advocate Deepak Chopra have already committed with ADIO to set up in Abu Dhabi, the capital of the United Arab Emirates Enterprise (UAE). Canadian investor and US reality show Shark Tank judge Kevin O’Leary has also joined as an ambassador for its business expansion program called Access Abu Dhabi, through which ADIO helps companies enter the capital’s business and innovation ecosystem.
One of the seven emirates in the United Arab Emirates, Abu Dhabi is an oil-exporting region that aims to diversify its business beyond the energy sector. Over the past few years, it has expanded into non-oil sectors such as real estate, financial services, travel and pharmaceuticals, among others.
To further attract investors and businesses, ADIO also opened eight new offices last year in Tel Aviv, New York, San Francisco, Frankfurt, London, Paris, Beijing and Seoul.
One of the wealthiest regions in the Middle East, Abu Dhabi is also home to some of the world’s largest sovereign wealth funds, such as the Abu Dhabi Investment Authority (ADIA), which has also been increasing investments in technology and disruptive start-ups.
In India, ADIA is aggressively increasing its investments, with the latest at USD 500 million ( ¥40 billion) eyewear chain Lenskart. It has also invested in several other local companies, including startups and funds such as DealShare, Greenko Energy Holdings, Kotak Mahindra Group, HDFC Capital and Intas Pharmaceuticals.
With the support of ADIO, Mubadala Investment Company and Abu Dhabi Global Market, the Abu Dhabi government has also established “Hub71” as a global technology ecosystem to help founders access capital, global markets and a global partner network to Create technology enablers.
In 2021, ADIO has further announced incentives of more than AED500 million (US$136 million) to bring global agtech innovators to Abu Dhabi. In addition to the Yas Creative Center as an entertainment and media precinct for newcomers, the Government of Abu Dhabi has also established the Abu Dhabi Resident Office under the Abu Dhabi Department of Economic Development (ADDED) to support the integration and integration of the international and international community. coordination. Local culture and society, and take care of the family’s healthcare and education.
(The reporter visited Abu Dhabi at the invitation of the Abu Dhabi Government Media Office)
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