Abu Dhabi’s innovation fund expanded to Dh2b

Dubai: The scope of Abu Dhabi Government’s ‘innovation programme’ has been expanded, with an incentive pool now totalling Dh2 billion. The programme can also now invest in tech-related enterprises outside of agriculture.

This comes as part of Abu Dhabi Investment Office’s ‘AgTech’ programme that supports companies in high-growth areas. This year, ADIO partnered with seven agriculture businesses under this programme, to establish R&D and operational facilities and develop projects in the emirate. 

The funding will also extend to companies in financial services, IT, health services and biopharma and tourism as well.

Dr. Tariq Bin Hendi, Director-General of ADIO, said in a statement: “As we look ahead to 2021, ADIO is doubling down on our commitment to support investors in Abu Dhabi. We are excited to replicate the success of AgTech in other high-growth areas rooted in innovation.”

Rebates and grants

The Innovation Programme offers companies competitive rebates and grants, in addition to non-financial incentives, to support their investment in Abu Dhabi.