As part of the state-run Abu Dhabi Investment Office (ADIO) AED 2 billion ($545 million) Innovation Programme, it has partnered with three tech companies to provide support.
This year alone, ADIO has sanctioned AED 865 million ($235 million), to seven companies in Information and Communications Technology (ICT) sector to promote innovation.
ADIO announced that it inked partnerships with three companies Lyve, Callsign, and RIZEK, to provide them non-financial and financial incentives including, high-tech CAPEX and rebates on highly skilled payroll. The non-financial incentives which ADIO will offer are providing support to ecosystem engagement and establishment processes.
Technology leaders Bespin Global, STARZPLAY Arabia and, Anghami were able to successfully establish their new headquarters, with the help of ADIO’s support, in Abu Dhabi. Amazon Web Services (AWS) will also soon launch a cloud infrastructure region using the support of ADIO, in the United Arab Emirates. With companies pioneering new technologies from all over the world in Abu Dhabi, this emirate is emerging as a hub of leading advanced technology.
Lyve is establishing its headquarters in Abu Dhabi as a logistics hub to the region and the world through advanced and agile solutions. It is a global logistics solutions technology company founded in the UAE and boasts of a presence in 12 countries worldwide.
RIZEK is an online platform based in UAE and was founded in 2019 by Amman-based entrepreneur Abdallah Amman Sheikh. It is a ‘super app’ that allows its user base easy access to a variety of service providers and services in beauty, healthcare, maintenance, cleaning, and many other diverse segments. Customers will be able to choose the time and location as per their wishes. RIZEK is growing exponentially in new markets including, Egypt and Saudi Arabia.
London-based Callsign has introduced a unique intelligence-driven authentication to underpin digital trust across governments, financial institutions and, commerce globally. The global digital identity pioneer Callsign has chosen UAE as the hub for technical excellence. It is pioneering innovation in the field of digital trust and is building two centres of excellence in the UAE.