The Competitiveness Office of Abu Dhabi (COAD), which is part of the Abu Dhabi Department of Economic Development (ADDED), has launched the ‘Abu Dhabi innovation incubators program’ to support entrepreneurs.
This incubator program is part of the 14 initiatives that come under ‘Abu Dhabi Innovates’, which was launched in May.
It aims to provide visionaries and entrepreneurs access to the space and equipment they require to develop their innovations and convert them to commercial services and products.
Sameh Al Qubaisi, Director General of Economic Affairs at ADDED, said “This program is in line with ADDED’s commitment to support and develop prosperous projects and provide regulatory and institutional frameworks that support innovation and research and development in vital economic sectors.
“This will be achieved by following a set of policies and regulations, developed by ADDED and partners, to ensure that innovation incubators are well-equipped and have the right operating model to support innovators at different stages.”
Public and private institutions, which invest in innovative technology solutions and support R&D, are eligible to earn the ‘innovation incubators’ license, following a thorough review by experts and according to best practices and policies in this field.
Leading academic and private institutions granted incubator’s license include Khalifa University, Al Ain University, Abu Dhabi University, Higher College of Technology, Khwarizmi International College, New York University-Abu Dhabi, Plug and Play, and Fat6lab.
The program will focus on developing innovations that support clusters with high growth potential including the internet of things, data centers and cloud services, e-commerce, smart manufacturing, clinical research, asset management, commodity trading, tourism, fintech, and agritech.
Hala Al Ameri, ED of the Competitiveness Office of Abu Dhabi (COAD), said, “Innovation incubators enhance innovators’ capabilities, provide them with a suitable environment to develop their ideas from initiation to delivery, and accelerate the development of their innovations and projects .
“The program will also facilitate access to financing opportunities and business deals as well as encourage entrepreneurs and investors to deal with trusted incubators, select innovations to invest in and support innovators to navigate their way through challenges to success.”