Skip to content Skip to Search
Skip navigation

Abu Dhabi launches tech fund for developing countries

Abu Dhabi's Advanced Technology Research Council announced its $200m tech fund at the World Governments Summit in Dubai Reuters/Amr Alfiky
Abu Dhabi's Advanced Technology Research Council announced its $200m tech fund at the World Governments Summit in Dubai
  • ATRC invites applications
  • Resource and research funding
  • Aim to ‘bridge technology gaps’

Abu Dhabi has launched a $200 million tech investment platform that it hopes will help developing countries catch up with wealthier nations.

The emirate’s Advanced Technology Research Council (ATRC), which unveiled the initiative at the World Government Summit in Dubai, will fund “resource and research costs” in six sectors, transport, healthcare, aerospace and space, food and agriculture, safety and security, and sustainability, environment and energy.

Public and private institutions worldwide can apply for funding from the ATRC Global Tech R&D Platform, which aims to “bridge technology gaps” and enable countries to “keep pace with the latest advancements”, according to a statement announcing its launch.

“Our commitment is to empower every nation with the means to thrive in this technology-driven world,” said the ATRC secretary general, Faisal Al Bannai.

ATRC specialises in tech sub-sectors including quantum computing, AI, autonomous robotics, cryptography and advanced materials, and has a team of about 850 researchers.

It launched nearly four years ago and is responsible for defining Abu Dhabi’s research strategy across industry and academia, according to its website.

ATRC’s subsidiary, Aspire, stages what ATRC describes as “grand challenges and global competitions” to attract talented individuals worldwide, while its Technology Innovation Institute conducts research. Another division, VentureOne, commercialises its technological breakthroughs.

Aspire’s CEO, Stephane Timpano, said: “We’re here to identify technology gaps and facilitate sophisticated solutions that countries may need to explore for a resilient future”, said Aspire CEO Stephane Timpano.

The ATRC Global Tech R&D Platform is the group’s latest initiative.

Ray Johnson, CEO of ATRC’s Technology Innovation Institute, said: “Through this platform, we will help identify untapped innovation around the world, unleashing the power of transformative technologies and sparking economic growth.” .

Latest articles

Nature, Outdoors, Countryside

PIF’s Salic seeks to buyout Olam’s agriculture unit

Singapore-based Olam Group has confirmed that Saudi Agricultural and Livestock Investment (Salic) has offered to acquire its remaining stake in Olam Agri Holdings. The Public Investment Fund (PIF) subsidiary acquired a 35 percent stake in Olam Agri for $1.24 billion in December 2022, valuing the company at $3.5 billion. Olam Group retains 64.6 percent of its […]

Adult, Female, Person

Tecom profit up amid rise in commercial space demand

Dubai-listed Tecom Group reported a 20 percent year-on-year increase in net profit to AED340 million ($92.6 million) in the third quarter of 2024, driven by steady demand for premium commercial and industrial properties. Revenue for the quarter rose 12 percent annually to AED611 million, supported by Dubai’s strong economic fundamentals and growing demand for commercial […]

A sheep farm in Pukekohe, North Island, New Zealand. The country exported meat worth $155m to the GCC in 2023

New Zealand agrees free-trade deal with GCC

The GCC has agreed a new free-trade deal with New Zealand. The agreement will give duty-free access to 99 percent of New Zealand exports over 10 years, according to New Zealand trade minister Todd McClay.  McClay said the agreement was the culmination of an 18-year-long ambition to agree a trade deal in the Middle East. […]

A Saudi man walks at the Tadawul Saudi Stock Exchange, in Riyadh, Saudi Arabia

Kuwaiti companies looking at Saudi exchange listings

Kuwaiti companies are eyeing up opportunities to list on Saudi Arabia’s Tadawul exchange, according to reports. It comes almost two years since deals were signed between market regulators in both Gulf states to explore collaboration around cross-listings on the Tadawul and Kuwait’s bourse. Firas Al-Salem, chairman of the Kuwaiti Business Council, said that listings could […]