Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) in Abu Dhabi and its subsidiary OurCrowd Arabia in Abu Dhabi OurCrowd in Israelsigned a Memorandum of Understanding (MoU) to co-create and manage initiatives aimed at accelerating and promoting the development of an AI technology ecosystem on the campus of Masdar City University in Abu Dhabi.
The MoU outlines various initiatives, including the creation of an AI-focused venture capital fund, the development of strategic partnerships, the strengthening of Abu Dhabi’s AI innovation ecosystem and the creation of employment opportunities Graduate of MBZUAI Through OurCrowd’s network of global portfolio technology startups.
“Part of MBZUAI’s existence is to foster entrepreneurship, and this partnership creates a mechanism for incubating start-ups and creating local opportunities for the University’s talent pipeline,” said Sultan Al Hajji, MBZUAI’s Vice President of Public Affairs and Alumni Relations.
“Through this strategic partnership with OurCrowd Arabia, MBZUAI is advancing its mission to develop a A Dynamic, Vibrant AI Ecosystem This will help position Abu Dhabi as a global hub for artificial intelligence. Together, we will encourage funding to enable AI start-ups to scale up in the UAE capital, help develop and commercialize AI research, and provide exciting opportunities for young AI talent, including graduates and researchers from MBZUAI Opportunity. The proposed initiative is a perfect complement to MBZUAI’s and OurCrowd Arabia’s areas of expertise,” Al Hajji added.
A collaborative effort between Israel and the UAE
Sabah al-Binali, Executive Chairman of OurCrowd Arabia, added: “We are honored to sign this MoU with MBZUAI to jointly develop Abu Dhabi’s AI ecosystem. ADIO’s partnership begins, continuing to strengthen its strategic relationship. We look forward to continuing to leverage OurCrowd’s global experience and relationships to support the startup ecosystem in Abu Dhabi and the UAE.
Collaboration between Israel and the UAE in AI has the potential to significantly benefit the industry, as the two countries have unique strengths and resources that can complement each other. One of the main advantages of this partnership is the wealth of the UAE, which provides an ideal environment for AI startups to flourish. With significant investment opportunities in place, AI startups will have access to funding and resources to scale their operations and pursue innovation more aggressively.
Another advantage of the collaboration is the UAE’s strategic location as a gateway to the Middle East and North Africa (MENA) region. As a trade and business hub, the UAE offers a vast network of businesses, investors and entrepreneurs in the MENA region. This can help AI startups expand their reach and explore new opportunities in emerging markets, which are increasingly becoming key drivers of global economic growth.
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