It raises the total number of companies receiving support to seven, with $235 million already delivered.
The UAE state-governed Abu Dhabi Investment Office (ADIO) has penned partnerships with three additional tech companies - namely homegrown startups RIZEK and Lyve, as well as London’s Callsign - to provide them with both financial and non-financial incentives as part of its $545 million innovation programme.
So far, ADIO has delivered $235 million to buttress tech company innovation in 2021 alone, with the number of startups benefiting climbing to seven. Its support for the three new companies will come in the form of rebates for their highly-skilled labour payrolls and capital expenditure funds, and support for establishment processes and ecosystem engagement.
Founded in the UAE, Lyve’s global logistics solutions have grown to operate in 12 countries worldwide, while UAE-based RIZEK is an digital platform connecting its user base to a variety of service providers operating in healthcare, beauty, cleaning, and maintenance, offering flexible service times. The former will establish Abu Dhabi headquarters to serve as a regional and global hub, and RIZEK is set to expand into Saudi Arabia and Egypt.
Meanwhile, London-based Callsign served as a pioneer with its unique intelligence-driven authentication that upholds digital trust across financial institutions, governments, and commerce across the world. It is building two centres in the UAE to further innovate digital trust operations.
Dr Tariq Bin Hendi, the Director General of ADIO, declared that “Abu Dhabi’s ICT sector is rapidly advancing with the arrival and expansion of ambitious companies like Callsign, Lyve, and RIZEK.”
“We are now seeing companies from all over the world pioneering new technologies in Abu Dhabi, as the emirate emerges as a leading advanced technology hub, and the region’s HQ of tech HQs,” he said.
With ADIO’s support Anghami, Bespin Global, and STARZPLAY Arabia have thus far established new headquarters within Abu Dhabi, while Amazon Web Services (AWS) is set to soon launch a cloud infrastructure in the UAE.
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