Masdar City has announced the launch of "Innovate" initiative, which aims to identify and nurture the next generation of sustainable technologies. The global initiative will focus on the areas of urban mobility, clean energy, agritech and food security, water, energy storage, and artificial intelligence.
The yearlong Masdar City initiative will provide participating small and mid-size enterprises (SMEs) with a platform to nurture their sustainable innovations and opportunities to engage with potential investors. The companies will also have the opportunity to expand or move their operations to Masdar City Free Zone.
Abdulla Balalaa, Executive Director, Masdar City, said, "Bringing the Innovate initiative to fruition is a natural progression for Masdar City as Abu Dhabi’s hub of innovation and R&D. Innovate will allow us to bring more of the world’s best innovation-focused companies to the City, to further the R&D of these technologies, all while benefitting from Masdar City’s unique offerings." "By investing in Abu Dhabi’s innovation ecosystem, this initiative will further support the development of pioneering technologies around key green transition sectors such as clean energy, AI, water and other Fourth Industrial Revolution sectors. Companies will benefit from the support provided by Masdar City in helping them grow their businesses in the UAE and wider region, while also making a positive contribution to the UAE’s sustainable economic development," Balalaa continued.
As part of its year-round programme, Innovate has also partnered with Abu Dhabi Sustainability Week (ADSW), one of the world’s largest sustainability gatherings, to host the Innovate hub at the World Future Energy Summit, which will showcase leading solutions and facilitate networking opportunities with potential investors. During ADSW 2022, Innovate will also host a virtual forum to lead discussions and identify how early-stage technologies can be accelerated.
Balalaa concluded, "Each quarter over the next twelve months, Masdar City will scout for more companies to participate in a series of events and to feature on the Innovate microsite. Through partnerships with UAE government bodies, Innovate will continue to highlight Masdar City's and ADSW's stakeholders' innovative outlook, and Masdar City Free Zone will invite companies to move to Masdar City." Masdar City is home to more than 1,000 businesses, encompassing a variety of organisations - from multinationals and SMEs to homegrown startups - committed to advancing the sustainability agenda and spearheading the innovations to realise greener, more sustainable urban living. By basing their businesses in Masdar City, Abu Dhabi, companies will benefit from the exceptional digital infrastructure already in place as well as highly advanced regulatory frameworks and other R&D initiatives.
© Copyright Emirates News Agency (WAM) 2021.