May 21, 2024

ADQ Unveils ‘ADQ Growth Lab’ for driving innovation, R&D in UAE

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ADQ Growth lab launch event

ADQ, an Abu Dhabi-based investment and holding company, has unveiled the ADQ Growth Lab, a community of innovators spanning ADQ’s broad portfolio. The ADQ Growth Lab displays the firm’s commitment to innovation and R&D with a direct focus on creating value and sustainable impact across priority sectors of the UAE’s economy.

Industry sources added that as a part of the ADQ Growth Lab, ADQ will be investing AED 100 million to fund R&D testbed projects and will allocate further funds to fast-track the trial and adoption of AI and automation through innovative proofs-of-concept and pilots. The community, dedicated to innovation and R&D, will foster cross-sector collaboration to facilitate knowledge exchange and strategic partnerships between industry and academia that can leverage research capabilities.

ADQ added that it is working with regulators, and driving the ADQ Growth Lab for promoting the development of emerging trends across ADQ’s core sector clusters that include Energy and Utilities; Food and Agriculture; Healthcare and Life Sciences; and Mobility and Logistics. Moreover, ADQ Growth Lab will support partnerships with start-ups, scale-ups, and other technology partners to accelerate growth and position ADQ’s portfolio companies for the future.

To unveil the ADQ Growth Lab, ADQ brought together more than 30 innovation and R&D leads from more than 20 of its portfolio companies for the first time. The companies explored priorities, themes, and opportunities to collaborate on innovation and R&D efforts that can further bolster the UAE’s economic growth and innovation ecosystem.

Louay Abou Chanab, Chief Strategy Officer at ADQ, stated: “The ADQ Growth Lab reflects our commitment to investing in R&D and innovation initiatives as part of our strategy to solidify the future resilience of ADQ’s portfolio companies. By facilitating and fostering collaboration across ADQ’s portfolio and the wider innovation ecosystem, we are confident that ADQ Growth Lab will unlock growth opportunities that can accelerate value creation and further support UAE’s transformation into a knowledge-based economy.”

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