[ad_1]
Abu Dhabi-based investment and holding company ADQ has launched ADQ Growth Labs, a community of innovators covering its broad portfolio.
ADQ Growth Labs represent the company’s commitment to innovation and research and development, with a direct focus on creating value and sustainable impact in priority areas of the UAE economy.
As part of ADQ Growth Labs, Abu Dhabi Group will invest AED 100 million ($27.2 million) to fund R&D testbed projects and will allocate additional funds to fast-track artificial intelligence and automation through innovative proof-of-concept of trials and adoption and pilots.
In the new lab, Chief Strategy Officer Louay Abou Chanab said: “This reflects our commitment to investing in R&D and innovation programs as part of our strategy to strengthen future resilience across ADQ portfolio companies.”
“By fostering and facilitating collaboration between ADQ’s product portfolio and the wider innovation ecosystem, we believe the ADQ Growth Lab will unlock growth opportunities, accelerate value creation and further support the UAE’s transformation into a knowledge-based economy,” said Abou Chanab.
Committed to innovation and R&D, the community will foster cross-sector collaboration to foster knowledge exchange and strategic partnerships between industry and academia that can leverage research capabilities.
The ADQ Growth Lab will also work with regulators to promote the development of emerging trends in ADQ’s core sector clusters including energy and utilities; food and agriculture; healthcare and life sciences; and mobility and logistics.
In addition, the ADQ Growth Lab will support partnerships with startups, scale-ups and other technology partners to accelerate growth and position ADQ’s portfolio companies for the future, he added.
ADQ brought together for the first time more than 30 innovation and R&D executives from its more than 20 portfolio companies to form the ADQ Growth Lab.
The companies explored priorities, themes and opportunities to collaborate on innovation and R&D efforts to further boost the UAE’s economic growth and innovation ecosystem.-TradeArabia News Service
[ad_2]
Source link