OurCrowd, one of Israel's biggest venture capital companies, is expanding its operations in Abu Dhabi with a new investment centre and an artificial intelligence hub, in partnership with the Abu Dhabi Investment Office.
The venture capital centre of OurCrowd Arabia, which was incorporated at Abu Dhabi Global Market in 2021, will manage deals for its existing platform and cater to emerging markets, the companies said in a joint statement on Wednesday, during Abu Dhabi Finance Week.
OurCrowd and Adio will also launch Integrated Data Intelligence, an AI hub, which will be based at ADGM's Hub71 start-up centre and is aimed at commercialising AI for businesses, the companies said.
OurCrowd will expand its team at ADGM to 60 over the next four years, as part of a $60 million investment by the company in the emirate.
IDI will develop AI solutions that will help businesses adopt and leverage advanced technology. It will use advanced data automation, AI and machine learning models to reduce costs and improve outcomes for data intensive tasks.
The IDI company will be led by Dr Hasanat Dewan, who has led innovation and technology transformation in an executive capacity for global financial institutions including Etrade, BNY Mellon, Russell Investments Group, Merrill Lynch, Deutsche Bank and Morgan Stanley.
The company said OurCrowd Arabia, led by Sabah al-Binali, would significantly increase its venture capital operations.
OurCrowd's decision to expand its operations in Abu Dhabi comes after an intensive global search, Jon Medved, founder and chief executive of OurCrowd, said.
“The World Economic Forum ranks the UAE first in the world in best e-infrastructure and macroeconomic stability, and the third most-trusted government,” he said.
“These factors, with numerous other advantages including global talent and market access, underscore why Abu Dhabi is now home to OurCrowd Arabia and OurCrowd’s new AI spin-off, and why we will continue to invest in the innovation infrastructure and talent in the country.”
The launch of IDI reinforces Abu Dhabi’s commitment to support the expansion of innovative businesses that contribute to the emirate’s knowledge economy.
The UAE has long championed the critical role digital transformation plays in its economy and society, as the country positions itself as a global hub for innovation.
The Emirates is ranked first in the Middle East in the 2021 edition of the Global Innovation Index, cementing its status among the world’s leading countries in adopting the latest technology.
A host of global technology companies, including Microsoft, Google, Amazon and Oracle, have flocked to the Emirates to set up centres to support the country's technological push.
Abu Dhabi leads the Middle East in the global smart city index, ranking 28th, according to a 2021 report from the Institute for Management Development and the Singapore University for Technology and Design.
The partnership between Adio and OurCrowd was made through Adio's innovation programme, which supports local and international companies looking to grow in Abu Dhabi.
Adio has awarded OurCrowd a package of financial and non-financial incentives to accelerate its growth in the UAE capital, it said.
“OurCrowd is a great example of a company that has benefited from Abu Dhabi’s enabling ecosystem to achieve accelerated growth,” said Abdulla Al Shamsi, acting director general of Adio.
“OurCrowd has moved from an initial licence to an established market player, with its new investment centre and tech hub bringing additional VC and tech specialism to Abu Dhabi and expanding the availability of solutions and technology to companies.”
In 2021, Adio established an office in Tel Aviv to support Israeli technology companies that seek to establish and expand their operations in the Abu Dhabi.
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Company%C2%A0profile
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Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Company%20Profile
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UAE currency: the story behind the money in your pockets
more from Janine di Giovanni
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MATCH INFO
Manchester City 1 (Gundogan 56')
Shakhtar Donetsk 1 (Solomon 69')
Director: Romany Saad
Starring: Mirfat Amin, Boumi Fouad and Tariq Al Ibyari
The specs: 2018 Renault Megane
Price, base / as tested Dh52,900 / Dh59,200
Engine 1.6L in-line four-cylinder
Transmission Continuously variable transmission
Power 115hp @ 5,500rpm
Torque 156Nm @ 4,000rpm
Fuel economy, combined 6.6L / 100km
2025 Fifa Club World Cup groups
Group A: Palmeiras, Porto, Al Ahly, Inter Miami.
Group B: Paris Saint-Germain, Atletico Madrid, Botafogo, Seattle.
Group C: Bayern Munich, Auckland City, Boca Juniors, Benfica.
Group D: Flamengo, ES Tunis, Chelsea, Leon.
Group E: River Plate, Urawa, Monterrey, Inter Milan.
Group F: Fluminense, Borussia Dortmund, Ulsan, Mamelodi Sundowns.
Group G: Manchester City, Wydad, Al Ain, Juventus.
Group H: Real Madrid, Al Hilal, Pachuca, Salzburg.
Karwaan
Producer: Ronnie Screwvala
Director: Akarsh Khurana
Starring: Irrfan Khan, Dulquer Salmaan, Mithila Palkar
Rating: 4/5
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
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
Key features of new policy
Pupils to learn coding and other vocational skills from Grade 6
Exams to test critical thinking and application of knowledge
A new National Assessment Centre, PARAKH (Performance, Assessment, Review and Analysis for Holistic Development) will form the standard for schools
Schools to implement online system to encouraging transparency and accountability
LIKELY TEAMS
South Africa
Faf du Plessis (captain), Dean Elgar, Aiden Markram, Hashim Amla, AB de Villiers, Quinton de Kock (wkt), Vernon Philander, Keshav Maharaj, Kagiso Rabada, Morne Morkel, Lungi Ngidi.
India (from)
Virat Kohli (captain), Murali Vijay, Lokesh Rahul, Cheteshwar Pujara, Rohit Sharma, Ajinkya Rahane, Hardik Pandya, Dinesh Karthik (wkt), Ravichandran Ashwin, Bhuvneshwar Kumar, Ishant Sharma, Mohammad Shami, Jasprit Bumrah.
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
Global state-owned investor ranking by size
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China
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UAE
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Japan
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Norway
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Canada
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Singapore
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Australia
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South Korea
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Zakat definitions
Zakat: an Arabic word meaning ‘to cleanse’ or ‘purification’.
Nisab: the minimum amount that a Muslim must have before being obliged to pay zakat. Traditionally, the nisab threshold was 87.48 grams of gold, or 612.36 grams of silver. The monetary value of the nisab therefore varies by current prices and currencies.
Zakat Al Mal: the ‘cleansing’ of wealth, as one of the five pillars of Islam; a spiritual duty for all Muslims meeting the ‘nisab’ wealth criteria in a lunar year, to pay 2.5 per cent of their wealth in alms to the deserving and needy.
Zakat Al Fitr: a donation to charity given during Ramadan, before Eid Al Fitr, in the form of food. Every adult Muslim who possesses food in excess of the needs of themselves and their family must pay two qadahs (an old measure just over 2 kilograms) of flour, wheat, barley or rice from each person in a household, as a minimum.
Champions League Last 16
Red Bull Salzburg (AUT) v Bayern Munich (GER)
Sporting Lisbon (POR) v Manchester City (ENG)
Benfica (POR) v Ajax (NED)
Chelsea (ENG) v Lille (FRA)
Atletico Madrid (ESP) v Manchester United (ENG)
Villarreal (ESP) v Juventus (ITA)
Inter Milan (ITA) v Liverpool (ENG)
Paris Saint-Germain v Real Madrid (ESP)
Points about the fast fashion industry Celine Hajjar wants everyone to know
- Fast fashion is responsible for up to 10 per cent of global carbon emissions
- Fast fashion is responsible for 24 per cent of the world's insecticides
- Synthetic fibres that make up the average garment can take hundreds of years to biodegrade
- Fast fashion labour workers make 80 per cent less than the required salary to live
- 27 million fast fashion workers worldwide suffer from work-related illnesses and diseases
- Hundreds of thousands of fast fashion labourers work without rights or protection and 80 per cent of them are women
Women’s World T20, Asia Qualifier, in Bangkok
UAE fixtures Mon Nov 20, v China; Tue Nov 21, v Thailand; Thu Nov 23, v Nepal; Fri Nov 24, v Hong Kong; Sun Nov 26, v Malaysia; Mon Nov 27, Final
(The winners will progress to the Global Qualifier)
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Sole survivors
- Cecelia Crocker was on board Northwest Airlines Flight 255 in 1987 when it crashed in Detroit, killing 154 people, including her parents and brother. The plane had hit a light pole on take off
- George Lamson Jr, from Minnesota, was on a Galaxy Airlines flight that crashed in Reno in 1985, killing 68 people. His entire seat was launched out of the plane
- Bahia Bakari, then 12, survived when a Yemenia Airways flight crashed near the Comoros in 2009, killing 152. She was found clinging to wreckage after floating in the ocean for 13 hours.
- Jim Polehinke was the co-pilot and sole survivor of a 2006 Comair flight that crashed in Lexington, Kentucky, killing 49.
Volvo ES90 Specs
Engine: Electric single motor (96kW), twin motor (106kW) and twin motor performance (106kW)
Power: 333hp, 449hp, 680hp
Torque: 480Nm, 670Nm, 870Nm
On sale: Later in 2025 or early 2026, depending on region
Price: Exact regional pricing TBA
Dubai Bling season three
Cast: Loujain Adada, Zeina Khoury, Farhana Bodi, Ebraheem Al Samadi, Mona Kattan, and couples Safa & Fahad Siddiqui and DJ Bliss & Danya Mohammed
Rating: 1/5
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Globalization and its Discontents Revisited
Joseph E. Stiglitz
W. W. Norton & Company
Brief scores:
Manchester City 2
Gundogan 27', De Bruyne 85'
Crystal Palace 3
Schlupp 33', Townsend 35', Milivojevic 51' (pen)
Man of the Match: Andros Townsend (Crystal Palace)
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
New schools in Dubai
SPEC%20SHEET%3A%20SAMSUNG%20GALAXY%20Z%20FOLD%204
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The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
Killing of Qassem Suleimani
COMPANY%20PROFILE
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Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
Kill%20
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