Fri, August 12, 2022 – 3:54 PM
ABU DHABI, 12th August / WAM / The Abu Dhabi Competitiveness Office, affiliated with the Department of Economic Development – Abu Dhabi, launched the Abu Dhabi Innovation Incubators Program to empower individuals wishing to transform their ideas into distinguished innovations and business opportunities that in turn contribute to supporting the process of diversified, smart and sustainable economic development, as part of its efforts to enhance the innovation system and entrepreneurship.
The official launch of the Innovation Incubators Program comes within the initiatives of “Abu Dhabi Innovates”, the general framework for strengthening the innovation system in the emirate, which was announced in May 2022 and includes regarding 14 initiatives .. The general framework provides the appropriate environment such as spaces, resources and tools necessary to sponsor, build capacities, develop ideas and activate Its commercial value by converting it into services, products and projects.
Innovation incubators are considered among the factors affecting the encouragement and stimulation of innovation, as they play a vital role in providing an appropriate and stimulating environment by providing the necessary support to transform scientific ideas and innovations into business opportunities.
Sameh Al Qubaisi, Director General of Economic Affairs at the Department of Economic Development – Abu Dhabi, said: “The Abu Dhabi Innovation Incubators Program is part of Abu Dhabi’s economic efforts to set institutional and legislative frameworks that stimulate innovation, research and development in vital economic sectors. We are working to achieve this by following a package of policies and legislation, developed by Abu Dhabi Economy in cooperation with a number of partners, to ensure the readiness of innovation incubators in terms of tools, work systems and the rest of the aspects necessary to support innovators at various stages.
His Excellency added: “We are confident that this program will support the innovation system in Abu Dhabi and the continuous efforts to develop the business environment, and contribute to strengthening Abu Dhabi’s regional and global position.”
The Abu Dhabi Innovation Incubators Program sets the basic rules and guidelines for licensing incubators in universities, institutes, educational institutions, research centers, government agencies and private sector institutions that invest in innovative technical solutions and support research and development and innovative projects.
The list of academic and private entities that obtained licenses for innovation incubators included Khalifa University, Al Ain University, Abu Dhabi University, Higher Colleges of Technology, Al Khwarizmi International College, New York University – Abu Dhabi, Plug and Play, and Fat6lab.
In line with Abu Dhabi’s focus on the knowledge and innovation economy, the Abu Dhabi Innovation Incubators Program works to develop innovation in areas that support priority sectors and have broad growth potential, including the Internet of Things, data service centers, cloud computing services, e-commerce, and smart manufacturing. and medical research, asset management, commodity trading, tourism, financial technology, and agricultural technology.
Hala Al Ameri, Executive Director of the Abu Dhabi Competitiveness Office, said: “Innovation incubators play a key role in developing the capabilities of innovators and providing the appropriate environment at all stages of the project’s development, from an idea to innovative products and services, which contributes to accelerating the development of innovations and projects.”
She added: “The Innovation Incubators Program will provide the necessary mechanism to facilitate innovators’ access to financing opportunities and commercial deals through incubators, and encourage entrepreneurs and investors to deal with trusted incubators, choose the appropriate innovations for them to invest in, and support innovators during the journey of transforming their ideas, inventions and innovations into projects.” successful and prosperous.
The Abu Dhabi Competitiveness Office was established in 2011 with the aim of achieving the highest levels of competitiveness in the emirate by providing a diversified sustainable environment that enables businesses and companies to achieve the best results by creating an economic environment that stimulates innovation.
Wam/ Ramy Samih/ Reda Abdel Nour
