UAE - Mubasher: ADQ, an Abu Dhabi-based investment and holding company, has launched the ADQ Growth Lab to promote innovation and research and development (R&D) across key sectors of the UAE economy.
Through the lab, ADQ will invest AED 100 million in R&D testbed projects and further funds to accelerate the trial and adoption of artificial intelligence (AI) and automation, according to a press release on Thursday.
The new community of innovators seeks to create value and sustainable impact across the main sectors of the UAE’s economy and drive innovation in products, services, processes, and technologies to enhance ADQ's portfolio.
The ADQ Growth Lab will also support partnerships with startups, scaleups, and other technology partners.
The 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."