AccuVis Bio and Abu Dhabi University sign agreement to
Abu Dhabi University and AccuVis Bio (Arab Science and Technology Foundation -ASTF-), the medical research and product development company financed by Khalifa Fund, signed a 2 year agreement to launch the UAE's and MENA's first biotechnology incubation initiative on the University's Abu Dhabi campus. The agreement aims to support research commercialization and transform Arab patents into marketable products, through regional and international companies, as well as encouraging innovative and creative Emiratis to participate in the UAE's sustainable development efforts.
The agreement was signed by Dr. Nabil Ibrahim, Chancellor of Abu Dhabi University, and Dr. Abdalla Abdel Aziz Alnajjar, Chairman of AccuVis Bio and the ASTF, in the presence of Mohammed Matar Al Shamisi Senior Manager Enterprise Development and Support Dept. at Khalifa Fund, and several officials.
Dr. Nabil Ibrahim, Chancellor of Abu Dhabi University stressed that this unique initiative which reflects ADU's strategy in education, scientific research and community engagement, is the first of its kind in the field. "ADU is building a full eco-system for innovation and entrepreneurship through ADU Enterprise, with the objective of incubating and commercializing research outcomes and the creation of technology based enterprises", said Dr. Nabil.
He pointed out that the initiative aims to raise awareness on the importance of technology incubators in higher education, throughout the UAE and the region, as they contribute to the nurturing of creative and unique ideas, provide opportunities for self-employment, as well as a gateway to commercialize scientific outcomes and innovative technology, which would contribute to building a knowledge-based economy.
Dr. Ibrahim explained that through this strategic partnership, ADU's Innovation and Entrepreneurship Center will provide AccuVis Bio with incubation services including business, technical and logistics support. "Both parties will also work on developing joint publications, collaborative research, and student training", added Dr. Nabil.
Commenting on the initiative, Dr. Abdalla Alnajjar, Chairman of AccuVis Bio and the President of the Arab Science and Technology Foundation explained that the company is supported by the Arab Science and Technology Foundation, and is the first of its kind in developing and manufacturing diagnostic kits and equipment. "We succeeded in the field by adopting scientific research findings and technological innovation, to meet the needs of the UAE's economy in particular, and the Gulf region in general", said Dr. Al-Najjar. He pointed out that Abu Dhabi University's prestigious position in scientific research, as well as Khalifa Fund's support has offered AccuVis Bio a unique opportunity to be part of this biotechnology incubator.
Al Darmaki CEO of Khalifa Fund said: "Khalifa Fund's plan for Enterprise development focuses on supporting and developing quality projects, especially those related to molding technology to match Abu Dhabi's 2030 Sustainable Development plan".
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© Press Release 2012
