• Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us
Monday, March 27, 2023
Daw Rimiz
No Result
View All Result
  • Login
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us
No Result
View All Result
DawRimiz
No Result
View All Result
Home Technology

Abu Dhabi aims to lure startups with investment in new technology hub

Donna Gilbert by Donna Gilbert
February 23, 2023
in Technology
0
Abu Dhabi aims to lure startups with investment in new technology hub

The new initiative, named Hub 71, is linked to Ghadan and will also involve the launch of a 500mil dirham fund to invest in startups, said Ibrahim Ajami. — Reuters
The new initiative, named Hub 71, is linked to Ghadan and will also involve the launch of a 500mil dirham fund to invest in startups, said Ibrahim Ajami. — Reuters

Abu Dhabi aims to lure startups with investment in new technology hub 1

Article Summary show
READ ALSO
Facebook’s libra has superb ability
Debt-laden DHFL receives Sebi approval to go out mutual fund enterprise

READ ALSO

Facebook’s libra has superb ability

Debt-laden DHFL receives Sebi approval to go out mutual fund enterprise

ABU DHABI: Abu Dhabi will commit up to 1bil dirhams (RM1.10bil) to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy.

US tech giant Microsoft will be a strategic partner, providing technology and cloud services to the businesses that join the hub as the capital of the United Arab Emirates continues its push to reduce reliance on oil revenue.

Abu Dhabi derives about 50% of its real gross domestic product and about 90% of central government revenue from the hydrocarbon sector, according to rating agency S&P.

The emirate launched a 50bil dirham (RM55.41bil) stimulus fund, Ghadan 21, in September last year to accelerate economic growth. Ghadan means tomorrow in Arabic.

The new initiative, named Hub 71, is linked to Ghadan will also involve the launch of a 500mil dirham (RM554.10mil) fund to invest in start-ups, said Ibrahim Ajami, head of Mubadala Ventures, the technology arm of Mubadala Investment Co.

The goal is to have 100 companies over the next three to five years, Ajami said. “The market opportunities in this region are immense,” he added.

Mubadala, with assets of US$225bil (RM915.86bil) and a big investor in tech companies, will act as the driver of the hub, located in the emirate’s financial district.

Softbank will be active in the hub and support the expansion of companies in which it has invested, Ajami said, adding that Mubadala is also aiming to attract Chinese and Indian companies, among others.

Mubadala which has committed US$15bil (RM61.05bil) to the Softbank Vision Fund, plans to launch a US$400mil (RM1.62bil) fund to invest in leading European technology companies.

Incentives mapped out by the government include housing, office space and health insurance as part of the 1bil dirhams (RM1.10bil) commitment, Ajami said.

Abu Dhabi will also announce a new research and development initiative on March 25 linked to the Ghadan 21 plan, according to an invitation sent to journalists. – Reuters

Related Posts

Facebook’s libra has superb ability
Technology

Facebook’s libra has superb ability

March 25, 2023
Debt-laden DHFL receives Sebi approval to go out mutual fund enterprise
Technology

Debt-laden DHFL receives Sebi approval to go out mutual fund enterprise

March 23, 2023
Technology, Data Science and Talent Leadership Joins Sterlite Tech to Drive the Future of Data Networks
Technology

Technology, Data Science and Talent Leadership Joins Sterlite Tech to Drive the Future of Data Networks

March 5, 2023
Impact of 5G on Location technology
Technology

Impact of 5G on Location technology

March 5, 2023
Worldwide Sports Technology Market Forecast to 2024 – The Growing Adoption of Smart Stadium Services is Aiding Growth – ResearchAndMarkets.com
Technology

Worldwide Sports Technology Market Forecast to 2024 – The Growing Adoption of Smart Stadium Services is Aiding Growth – ResearchAndMarkets.com

March 5, 2023
The Dying Art of Conversation—Has Technology Killed Our Ability to Talk Face-to-Face?
Technology

The Dying Art of Conversation—Has Technology Killed Our Ability to Talk Face-to-Face?

March 5, 2023
Next Post
The supplier provides technology for car-sharing

The supplier provides technology for car-sharing

No Result
View All Result

Categories

  • Business
  • Care Services
  • Cleaning Services
  • Customer Service
  • Dessert
  • Diet
  • Drinks
  • Errand Services
  • Exercise
  • Fashion
  • Fast food
  • Fitness
  • Food
  • Gold
  • Health
  • Home Services
  • Kids
  • Lifestyle
  • Market
  • Money
  • Music
  • Office Services
  • Online Services
  • Recipe
  • Services
  • Sports
  • Stock
  • Technology
  • Transport Service
  • Travel
  • Writing Service

Recent Posts

  • The Truth About Men’s Fertility and Eating Junk Food
  • Sixteen of the arena’s finest kitchen devices – chosen by means of chefs
  • Digitizing Food Safety: Tracking The Supply Chain From Seed To Store
  • These corals pick out to devour plastic over meals
  • Mangaluru restaurant packages food with banana leaves after appeal via MLA
  • Home
  • Terms and Conditions
  • Privacy Policy
  • Copyrights & DMCA
  • Cookie Policy
  • Contact Us

© 2021-2023 Dawrimiz All Rights Reserved Dawrimiz.

No Result
View All Result
  • Home
  • Business
    • Technology
    • Market
    • Gold
    • Stock
    • Money
    • Travel
  • Food
    • Dessert
    • Drinks
    • Fast food
    • Recipe
  • Health
    • Fitness
    • Diet
    • Exercise
    • Sports
  • Lifestyle
    • Fashion
    • Music
    • Kids
  • Services
    • Errand Services
    • Customer Service
    • Care Services
    • Cleaning Services
    • Online Services
    • Office Services
    • Home Services
    • Transport Service
    • Writing Service
  • Pages
    • Terms and Conditions
    • Privacy Policy
    • Digital Millennium Copyright Act Notice
    • Cookie Policy
  • Contact Us

© 2021-2023 Dawrimiz All Rights Reserved Dawrimiz.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In