The Abu Dhabi Department of Economic Development (ADDED) and Hub71, Abu Dhabi’s global tech ecosystem, have joined forces to enhance the Emirate’s innovation ecosystem by further developing the regulatory environment for innovative products and services.
This strategic alliance will design and launch the Abu Dhabi regulatory sandbox program, a collaborative platform that brings together companies in priority clusters such as Health Tech, Mobility, and AgriTech with regulatory authorities and policymakers.
The program aims to foster a regulatory environment that accommodates emerging technologies and supports regulatory innovation by encouraging innovation, cooperation, and regulatory experimentation among participants.
Ahmad Ali Alwan CEO – Hub71
“A progressive regulatory environment is essential for innovation to thrive. Through this partnership, Hub71 will work closely with COAD to enable startups to validate their solutions and establish product-market fit. Abu Dhabi promotes founders to conduct business by leveraging the capital’s position as a leading global hub for tech and innovation. We look forward to collaborating with COAD and are confident that this partnership will positively impact the technology and innovation landscape.”
The signing of the MoU represents a significant milestone for Abu Dhabi, positioning itself as a hub for innovation and providing a supportive ecosystem for businesses to thrive and innovate.
Hala Al Ameri, Executive Director of COAD, said that, “Our partnership with Hub71 will boost efforts and initiatives serving the Abu Dhabi Regulatory Sandbox Program, which provides the opportunity for innovative entrepreneurs to develop value-added solutions that will increase Abu Dhabi’s competitiveness. Leveraging Hub71’s global tech expertise will help in streamlining coordination among various stakeholders in the Emirate and simplifying the product launch process.”
“Within an experimental environment, companies can test their products and services in an organized and controlled manner for a specific period. When the testing is successful, those companies are allowed to introduce their solutions to the market in accordance with the controls enacted by the regulatory authorities,” Al Ameri added.
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