Global tech accelerator Plug and Play is partnering with Abu Dhabi Investment Office (Adio) to boost innovation in the industrial sector and attract high-calibre tech start-ups to the emirate.
As part of the partnership, the two organisations will introduce an industry 4.0 open innovation platform that aims to encourage ambitious projects, better policies, real economic value and global thought leadership.
“It will foster collaboration and knowledge exchange across major industrial entities and exceptional technology start-ups … in areas such as supply chain management, manufacturing, storage, telecommunications, maintenance, mobility, logistics, energy, construction and real estate,” Plug and Play said.
The UAE is focused on developing the country's industrial sector. Earlier this year, it launched a new strategy to increase contribution of the manufacturing sector to Dh300 billion ($81.68bn) in the next 10 years, from Dh133bn currently.
“The inherent strengths of Abu Dhabi make it a perfect fit for an Industry 4.0 open innovation platform,” said Babak Ahmadzadeh, director of Plug and Play Abu Dhabi.
“The size, diversity and mindset of the industrial players in Abu Dhabi can be a powerful leverage to attract world-class tech start-ups to the emirate through collaboration opportunities yielding real business, co-creation and investments.”
Silicon Valley's Plug and Play, one of the biggest accelerators in the world, opened its office in Abu Dhabi Global Market in October 2017 after signing a partnership with the financial free zone to bring financial technology start-ups to the capital.
Abu Dhabi's economy is expected to grow between 6 per cent and 8 per cent over the next two years, driven by government spending, financial services and foreign direct investment, Mohammed Al Shorafa, chairman of the emirate's Department of Economic Development, said earlier this year.
“We want to support the start-ups and companies that are contributing to real and lasting change through the development of cutting-edge technologies and solutions,” said Tariq bin Hendi, director general of Adio. “The open innovation platform will harness the power of collaboration to shape a brighter future on a global scale.”
Abu Dhabi continues to attract new companies to set up operations in the emirate.
Pure Salmon, a land-based Atlantic salmon aquaculture company, said earlier this year it is setting up its global headquarters in Abu Dhabi in partnership with Adio.
The Bio
Favourite place in UAE: Al Rams pearling village
What one book should everyone read: Any book written before electricity was invented. When a writer willingly worked under candlelight, you know he/she had a real passion for their craft
Your favourite type of pearl: All of them. No pearl looks the same and each carries its own unique characteristics, like humans
Best time to swim in the sea: When there is enough light to see beneath the surface
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
Killing of Qassem Suleimani
Company profile
Name: Fruitful Day
Founders: Marie-Christine Luijckx, Lyla Dalal AlRawi, Lindsey Fournie
Based: Dubai, UAE
Founded: 2015
Number of employees: 30
Sector: F&B
Funding so far: Dh3 million
Future funding plans: None at present
Future markets: Saudi Arabia, potentially Kuwait and other GCC countries
Company%20Profile
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Ovo's tips to find extra heat
- Open your curtains when it’s sunny
- Keep your oven open after cooking
- Have a cuddle with pets and loved ones to help stay cosy
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Company%C2%A0profile
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The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
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Rating: 2.5 out of 5 stars
