ADQ has launched a growth lab to accelerate innovation and R&D across key sectors of the UAE economy.
The Abu Dhabi-based investment and holding company wants to create a community of innovators to deliver real-world value and sustainable impact.
They will help drive innovation in products, services, processes, technologies and business models to enhance ADQ’s portfolio companies.
Investments of more than AED100 million ($27 million) will be made to fund R&D testbed projects and AI and automation. ADQ said it will allocate further funds to fast-track the trial and adoption of AI and automation through innovative proof-of-concepts and pilots.
Working with regulators, the ADQ Growth Lab will also promote development of emerging trends across ADQ’s core sector clusters that include energy and utilities, food and agriculture, healthcare and life sciences along with mobility and logistics.
The ADQ Growth Lab will also support partnerships with startups, scaleups and other technology partners to accelerate growth and position ADQ’s portfolio companies for the future.
To launch the growth lab, ADQ brought together more than 30 innovation and R&D leads from more than 20 of its portfolio companies for the first time.
The companies explored priorities, themes and opportunities to collaborate on innovation and R&D efforts that can further bolster the UAE’s economic growth and innovation ecosystem.
Chief Strategy Officer at ADQ, Louay Abou Chanab, said: “By facilitating and fostering collaboration across ADQ’s portfolio and the wider innovation ecosystem, we are confident that ADQ Growth Lab will unlock growth opportunities that can accelerate value creation and further support UAE’s transformation into a knowledge-based economy.”
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