Innovation economy in focus: UAE plans to launch 3 ventures to boost research and development

The Advanced Technology Research Council (ATRC) in Abu Dhabi is planning to launch three different ventures to enhance data security in the quantum era, apply advancements in smart autonomous mobility, and use robotic technologies to develop AgriTech.

The initiatives are expected to be launched this year by the Council’s commercialisation arm VentureOne. These ambitious projects seek to boost research and development in the UAE, helping expand its innovation economy.

HH Sheikh Khaled bin Mohamed, Crown Prince of Abu Dhabi, led a meeting of the Council’s board of directors on Monday, reviewing the proposals. He highlighted the UAE’s role as an incubator for innovation and encouraged the application of tech-based solutions.

Sheikh Khaled highlights role of UAE Research Map

During the meticulous meeting on Monday, Sheikh Khaled reviewed plans to launch the three ventures aimed at supporting national priorities and enhancing research and development and innovation across the globe.

His Highness also reaffirmed the significance of continuing to implement local and global plans and initiatives launched by the Advanced Technology Research Council (ATRC) in innovative technologies and advanced artificial intelligence (AI) solutions.

He also highlighted the role of the Council’s UAE Research Map in futher strengthening research cooperation among relevant entities. Launched in May, the UAE Research Map has attracted over 2,000 visits in its first couple of months and features 30 participating entities.

ATRC Chairman, H.H. Sheikh Khaled Bin Mohamed Bin Zayed has chaired the Board Meeting, during which his highness reviewed proposals to launch three new ventures that will support national priorities and enhance research and development and innovation globally.@ADMediaOffice pic.twitter.com/yKK7IhvSFl

— Advanced Technology Research Council (@atrcuae) July 22, 2024

UAE’s position on UN Frontier Technologies Readiness Index

Founded in 2020 at Masdar City, the Council is responsible for defining the UAE capital’s research strategy across academia and industry, facilitating investment funding, and driving policy and regulation for smart decision-making.

During the meeting on Monday, His Highness also reviewed additional plans for the city to strengthen its position in the global R&D landscape, besides emphasising the need to qualify and prepare national talent in STEM fields.

The meeting noted the UAE’s significant R&D strides in the past handful of years, elevating its position in global technology. The country moved up five places on the UN Frontier Technologies Readiness Index 2023, securing the 37th spot out of 166 nations.

ATRC Chairman, H.H. Sheikh Khaled Bin Mohamed Bin Zayed has chaired the Board Meeting. His highness emphasised the importance of supporting Emirati talent in technology innovation and advanced research, driving the UAE’s comprehensive and sustainable development.@ADMediaOffice pic.twitter.com/KguiMoTgwZ

— Advanced Technology Research Council (@atrcuae) July 22, 2024

Campaigns transforming UAE into global hub for innovation

Credit: UN Technology and Innovation Report

Last year, the UAE noted significant progress in the annual UN Technology and Innovation Report. The report ranks countries according to their readiness to use, adopt and adapt a range of frontier advanced technologies, besides focusing on green innovation.

The report examines numerous indicators including R&D and industry activities, ICT deployment, skills and access to finance. The UAE entered the ‘high’ score group, having previously been ranked in the ‘upper middle’ score group in 2021.

National campaigns such as the Technology Transformation Program, Industrial Technology Transformation Index, and Operation 300 billion have been helping the UAE transform into a global hub for innovation and technology and industry.