Abu Dhabi’s Advanced Technology Research Council (ATRC) has announced a groundbreaking initiative aimed at fostering innovation and technological advancement in developing nations. The newly launched “ATRC Global Tech R&D Platform” boasts a $200 million fund, generously provided by the Abu Dhabi government, to support the development of sophisticated technology solutions worldwide.
The initiative, unveiled on the sidelines of the prestigious World Governments Summit (WGS) 2024, signals Abu Dhabi’s commitment to leveraging its technological expertise to address global challenges. Open to governments, organizations, and eligible stakeholders from around the world, the ATRC Global Tech R&D Platform offers a unique opportunity for countries to collaborate and access cutting-edge solutions.
According to Faisal Al Bannai, Secretary General of ATRC, the platform aims to empower every nation with the tools needed to thrive in an increasingly technology-driven world. With a focus on six key sectors including aerospace, food and agriculture, healthcare, safety and security, sustainability, environment and energy, and transport, the initiative is poised to make a significant impact on global innovation.
The fund, overseen by the state-owned ATRC, particularly targets emerging and developing nations, aiming to accelerate innovation and spur economic growth. Ray O. Johnson, CEO of ATRC’s global applied research arm, Technology Innovation Institute (TII), emphasized the transformative potential of the platform in identifying untapped innovation and driving technological breakthroughs worldwide.
The announcement comes amidst the backdrop of the WGS 2024, a platform dedicated to fostering collaboration and innovation to address pressing economic and social challenges. With over 300 ministers, representatives from more than 85 international organizations, and 120 government delegations in attendance, the summit serves as a catalyst for meaningful dialogue and action.
Sheikh Khaled bin Mohamed Al Nahyan, Crown Prince of Abu Dhabi and Chairman of the Abu Dhabi Executive, outlined new priorities for ATRC, including expanding the R&D workforce by nurturing local youth talent. ATRC’s strategic focus on advancing tech startups through VentureOne, its commercialization entity, underscores Abu Dhabi’s ambition to position itself as a global leader in technological innovation.
The government entity’s plans encompass a wide range of technological solutions, spanning water tech, renewable energy, diagnostics and therapeutics, and generative AI. By investing in research and development and fostering collaboration on a global scale, ATRC is poised to drive positive change and pave the way for a more sustainable and technologically advanced future for all.
