Plug and Play to set up ‘open innovation platform’ in collaboration with ADIO

By Shilpa Annie Joseph, Official Reporter
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Abu Dhabi
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US-based largest innovation enabler, Plug and Play has partnered with Abu Dhabi Investment Office (ADIO) in order to launch a first-of-its-kind Industry 4.0 open innovation platform in Abu Dhabi.

This collaboration intends to accelerate industrial innovation and attract high-caliber tech startups to the emirate. According to the statement, the new platform aims to encourage ambitious projects, better policies, real economic value, and global thought leadership.

The alliance between Plug and Play Abu Dhabi and ADIO is part of a larger partnership agreement, which is aimed at expanding the region’s innovation potential through speeding startup opportunities.

Dr. Tariq Bin Hendi
Dr. Tariq Bin Hendi Director General – ADIO

“The incredible progress that Abu Dhabi has made over the past decades can be traced to our ambition of driving progress through innovation. We want to support the startups and companies that are contributing to real and lasting change through the development of cutting-edge technologies and solutions. The open innovation platform will harness the power of collaboration to shape a brighter future on a global scale.”

Mr. Babak Ahmadzadeh, Director of Plug and Play Abu Dhabi said, “The inherent strengths of Abu Dhabi make it a perfect fit for an Industry 4.0 open innovation platform. The size, diversity, and mindset of the industrial players in Abu Dhabi can be a powerful leverage to attract world-class tech startups to the emirate through collaboration opportunities yielding real business, co-creation, and investments.”

“This unique B2B tech startup market creation focused on Industry 4.0 will empower the emirate and the UAE to adopt transformative technology which can substantially increase productivity and competitiveness in many key sectors such as Manufacturing, Logistics, Energy, Food Security, and Mobility,” Mr. Ahmadzadeh added.

The UAE has introduced a new industrial strategy aimed at increasing the manufacturing sector’s contribution to the national economy from $36 billion (Dh133 billion) to $81 billion (Dh300 billion) over the next ten years. The new initiative aims to support that vision by creating a sustainable and open innovation platform for Industry 4.0 innovators.

Related: US-based Plug and Play eyes regional expansion with wider investment opportunities