Abu Dhabi-based investment and holding company ADQ has launched the ‘ADQ Growth Lab’, a community of innovators spanning the company’s broad portfolio.
The ADQ Growth Lab represents the company’s commitment to innovation as well as research and development (R&D) with a direct focus on creating value and sustainable impact across priority sectors of the UAE’s economy.
As part of the ADQ Growth Lab, ADQ will be investing $27.2 million (AED 100 million) to fund R&D testbed projects and will allocate further funds to fast-track the trial as well as adoption of AI and automation through innovative proof-of-concepts and pilots.
Louay Abou Chanab Chief Strategy Officer ADQ
“The ADQ Growth Lab reflects our commitment to investing in R&D and innovation initiatives as part of our strategy to solidify the future resilience of ADQ’s portfolio companies. 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.”
The company said that the community will foster cross-sector collaboration to facilitate knowledge exchange and strategic partnerships between industry and academia that can leverage research capabilities.
“Working with regulators, the ADQ Growth Lab will also promote the development of emerging trends across ADQ’s core sector clusters that include Energy and Utilities; Food and Agriculture; Healthcare and Life Sciences; and Mobility and Logistics. Moreover, ADQ Growth Lab will support partnerships with start-ups, scale-ups, and other technology partners to accelerate growth and position ADQ’s portfolio companies for the future,” as per the statement.
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