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FinancialNews
25-03-19
USD270m investment to reach Abu Dhabi tech start-ups
(MENAFN) Abu Dhabi was announced to have set out a plan to allocate USD270 million of investments for the sake of technology start-ups.
Billions of dollars will be injected in infrastructure, industry and tourism in order to ease independence on oil, an Abu Dhabi government statement confirmed.
Head of Mubadala Ventures Ibrahim Ajami revealed a plan for a massive fund to be introduced in support of new initiatives.
Under the plan, Ajami explained, the capital of the UAE is looking to open 100 new technology firms over a period of 3-5 years.
MENAFN2503201900450000ID1098299211
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