2020 November

Global Center for Advanced Technology Research unveiled in Abu Dhabi – UAE

Abu Dhabi has unveiled the Technology Innovation Institute (TII) the dedicated applied research pillar of the Advanced Technology Research Council (ATRC) as a part of reinforcing Abu Dhabi and the UAE’s position as a global hub for innovation and advanced technologies.

The aim of the institute is to deliver discovery science and technology that have a global impact. The institute has seven initial dedicated research centers which focus on Quantum Research, Autonomous Robotics, Cryptography, Digital Security, Advanced Materials, Directed Energy and Secure Systems.

Teams of international researchers and scientists from around the world have joined the institute to help build a research and development ecosystem in Abu Dhabi and Dubai.

The Institute is already working on more than 25 long term collaborative projects through partnerships with more than 20 world leading Universities.

TII is one of the two pillars under ARTC. The aim of ARTC is to cultivate a collaborative research community, accelerating innovation and discovery. TII allows the UAE to push the frontiers of knowledge further and positively impacting the local economy, society and the environment. Contact Market research companies in UAE to know more about the 

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Nasdaq Dubai Growth Market to Support UAE SMEs

Small & Medium Enterprises (SMEs) account for approximately 90% of the business in Dubai. They contribute to nearly 50% of Dubai’s Gross Domestic Product (GDP) and account for 52% of the total workforce in the Emirate. The Covid-19 pandemic has resulted in an economic slowdown impacting local SMEs. In order to support these SMEs, the government has launched several measures to help them deal with the financial fallout. One such measure is the initiation of Nasdaq Dubai Growth Market.

Nasdaq Dubai Growth Market to Support the SMEs

H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, has launched the Nasdaq Dubai Growth Market which will help the SMEs by raising capital through Initial Public Offerings (IPOs) for their future expansions. The initiative falls under the Dubai Future District that focuses on leading the MENA (Middle East & Africa) region and creating a future economy by providing investment, technical, legislative, service and incentive-driven environment.

The Nasdaq Dubai Growth Market will provide a platform to innovative and fast-growing SMEs to list their business on the region’s international exchange creating an environment where businesses can prosper through forming partnerships. This will not only provide business opportunities for the SMEs within the UAE, but also for the international companies that are looking to expand in the region. As a consequence, Dubai is expected to see a boost in the economy thereby stimulating the growth across various sectors through this initiative.

The Nasdaq Dubai Growth Market

The Growth Market will play a critical role in the future by financing innovative businesses to accelerate their growth and create new markets for their products/services. The launch of this initiative will strengthen Dubai’s position as a regional leader in innovation across industries.

The Nasdaq Dubai Growth Market will allow SMEs that are valued below AED 920 million (USD 250 million) to list their business. One precondition is that business should be in operation for 1-3 years before it is listed on the platform. The Growth Market will allow owners of the business to handle the IPO and they can sell as little as 25% of the company shares providing them with control over their business operations. Several companies have already listed themselves in the Nasdaq Dubai Growth Market. They are expected to be launched in 2021.

Impact on Future Dubai & UAE Economy

The Nasdaq Dubai Growth Market will have a significant impact on the SMEs that are looking to expand their business. The Growth Market will also contribute to the UAE’s vision to achieve zero contribution of oil in its GDP over the course of next 50 years. It will also help UAE in strengthening its position as a regional leader in Innovation, Finance, Logistics, Infrastructure and Business Services.

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