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Innovation economy in focus: UAE plans to launch 3 ventures to boost research and development

The Advanced Technology Research Council (ATRC) in Abu Dhabi is set to launch three new ventures this year focused on enhancing data security in the quantum era, advancing smart autonomous mobility, and developing AgriTech using robotic technologies. These initiatives, managed by ATRC's commercialisation arm, VentureOne, aim to bolster research and development in the UAE and expand its innovation economy.

HH Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, chaired a meeting of the Council’s board of directors, where he reviewed the proposals. He emphasized the UAE’s role as an innovation incubator and advocated for the adoption of tech-based solutions.

Sheikh Khaled Highlights UAE Research Map's Role

During the meeting, Sheikh Khaled examined plans to launch the three ventures, underscoring their alignment with national priorities and their potential to enhance global research, development, and innovation. He also stressed the importance of continuing both local and global initiatives led by ATRC in advanced technologies and AI solutions. Additionally, he noted the significance of the UAE Research Map, launched in May, in strengthening research cooperation among relevant entities. The map has garnered over 2,000 visits and features 30 participating entities.

UAE’s Position on UN Frontier Technologies Readiness Index

Established in 2020 at Masdar City, the Council is tasked with defining Abu Dhabi’s research strategy across academia and industry, facilitating investment funding, and shaping policy and regulation for informed decision-making. Sheikh Khaled also reviewed plans to further strengthen the city’s position in the global R&D landscape and emphasized the need to prepare national talent in STEM fields.

The UAE has made notable R&D progress, moving up five places to 37th out of 166 nations on the UN Frontier Technologies Readiness Index 2023. The country showed significant advancement in the annual UN Technology and Innovation Report, which ranks nations based on their readiness to use, adopt, and adapt advanced technologies and their focus on green innovation. The UAE moved from the ‘upper middle’ score group in 2021 to the ‘high’ score group.

National initiatives such as the Technology Transformation Program, Industrial Technology Transformation Index, and Operation 300 Billion have been instrumental in transforming the UAE into a global hub for innovation, technology, and industry.
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