|18 February, 2019

Musanada and Krypto Labs sign MoU to develop innovation initiatives

Under the MoU, Musanada and Krypto Labs will be engaged in a partnership agreement to exchange knowledge through strategic and innovation consultancy

H.E. Eng. Suwaidan Rashed Al Dhaheri, Chief Executive Officer of Musanada and Dr. Saleh Al Hashemi, Managing Director of Krypto Labs

H.E. Eng. Suwaidan Rashed Al Dhaheri, Chief Executive Officer of Musanada and Dr. Saleh Al Hashemi, Managing Director of Krypto Labs

Abu Dhabi, UAE –The Abu Dhabi General Services Company, Musanada and Krypto Labs, the leading global innovation hub, have signed a Memorandum of Understanding (MoU) to collaborate on innovation initiatives through knowledge-sharing.

The MoU was signed at Krypto Labs HQ in Masdar City by H.E. Eng. Suwaidan Rashed Al Dhaheri, Chief Executive Officer of Musanada and Dr. Saleh Al Hashemi, Managing Director of Krypto Labs.

Under the MoU, Musanada and Krypto Labs will be engaged in a partnership agreement to exchange knowledge through strategic and innovation consultancy, project support and research to assist in projects’ implementation.

Welcoming the signing of the agreement with Krypto Labs, H.E. Eng. Suwaidan Rashed Al Dhaheri, Musanada’s CEO, said: “This partnership will generate further positive outcomes as it will help both parties share experiences and information, enhance the joint efforts in the areas of research and studies on the various types of projects delivered by Musanada, improve processes and performance levels, step up the pace of delivery, increase productivity and create an innovative working environment.”

Abu Dhabi General Services Company “Musanada” highlighted the need to achieve substantial transformation across various services and projects by deploying digital technology and promoting forward-looking thinking so as to establish an economy based on science, technology, knowledge and innovation in line with Abu Dhabi government’s directions and efforts to speed up the development and economic progress witnessed in the Emirate of Abu Dhabi.

According to Musanada, the move towards the use of artificial intelligence (AI) technologies and applications is key to building a sustainable future that will ensure people’s welfare, support economic and social development efforts, achieve optimal investment of all capabilities and utilize all available human and material resources in a creative manner.

Dr. Saleh Al Hashemi, Managing Director of Krypto Labs asserted that Krypto Labs is committed to contributing to the transformation of the city into a knowledge-based economy, in alignment with the UAE Vision 2021 and the Abu Dhabi Economic Vision 2030.

Commenting on the signing, he said: “This partnership is a key step towards achieving Krypto Labs’ vision of fostering an innovation and knowledge-based economy, as Musanada is an entity that plays a major role in developing and constructing projects throughout the capital. This agreement aims for discovering revolutionary solutions through innovative methods, rather than following traditional means.”

He added: ‘We pave the road for business startups to flourish and grow through a healthy ecosystem and fully-equipped innovation space that enables them to work on their groundbreaking solutions and projects with support from our mentorship and programs. Therefore, this partnership signifies our commitment in optimizing projects and solutions to reaching greater heights in innovation.”

Established in 2007, Musanada provides integrated services to the Abu Dhabi Government in facility management, construction, contract management, and more.

Krypto Labs is a global innovation hub which encourages research and development, accelerates startups and conducts world-class innovation programs at its headquarters in Masdar City, Abu Dhabi.

-Ends-

About Krypto Labs

Krypto Labs is a purpose-built innovation hub offering custom business incubation programs, funding for start-ups, mentorship, and an inspiring co-working space. Krypto Labs is a strategic partner with Silicon Valley-based 500 Startups, which is among the world’s most active seed investors with over 2,000 startups. Krypto Labs is also associated with ADFG. ADFG (together with its controlled entities) has assets under management of US$20 billion and offices in the UAE, the UK and Eastern Europe. Krypto Labs is headquartered in the sustainable eco-development Masdar City in Abu Dhabi, United Arab Emirates.

Krypto Labs’ incubation program is carefully designed to support new ideas and established start-ups with vital assistance, including mentorship, funding, networking, and other support services to allow innovators to concentrate on their core competencies. Selected start-ups will receive funding in return for a negotiated stake in their company.

Our sustainable state-of-the-art premises are inviting, inspiring, embedding and confidence boosting. Krypto Labs provides the entrepreneurial community with a co-working space where freelancers, independent contractors, work-from-home professionals and others can focus and achieve in the company of like-minded individuals. It also allows them to be part of a network that provides complimentary services to their businesses for below-market cost.  Krypto Labs also provides world-class innovation programs through strategic partnerships in corporate innovation and ecosystem development.

For more information about Krypto Labs, please visit www.kryptolabs.com 

© Press Release 2019

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