The Masdar City Free Zone has introduced a new licensing package for startups and businesses focused on artificial intelligence (AI).
The package is part of a collaboration between Masdar City and Mohamed bin Zayed University of Artificial Intelligence (MBZUAI) designed to accelerate AI growth in the region.
The program is an outcome of a Memorandum of Understanding signed at Abu Dhabi Sustainability Week between the Masdar City-based university, Masdar City, and The Catalyst, Masdar City’s venture arm, which invests in clean tech startups.
“In line with MBZUAI’s visionary mission to support Abu Dhabi’s efforts in becoming a hub for AI start-ups and towards a knowledge-based economy, our commitment is to nurture a talent pipeline rich in advanced AI expertise. We aim to cultivate a vibrant ecosystem where cutting-edge research fuels start-ups with the potential to transform industries and shape a brighter future for society.”
Mr. Amier Al Awadhi, the acting director of the Masdar City Free Zone, said that, “The Masdar City Free Zone is dedicated to innovation. This new package will help us harness the potential of AI to transform the tech industry through automation, adaptation, and personalization.”
“We’re working with Mohamed bin Zayed University of Artificial Intelligence to grow and scale even more leading-edge businesses and projects that will further position the UAE as a global technology hub,” Mr. Al Awadhi added.
According to the statement, “In addition to 100 percent foreign ownership, 100 percent income tax exemptions, comprehensive set-up support through the One-Stop Shop, and other perks, the Masdar City Free Zone offers an environment designed to help AI and other tech companies thrive.”
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