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13-02-22
Adio includes new tech firms to USD545M Innovation Program
(MENAFN) The Abu Dhabi Investment Office included three novel technology-related firms to its Innovation Program, driving the overall inducements awarded up until now to companies that increase quickly in value to Dh1 billion (USD272 million).
According to Adio’s statement on Thursday, Adio, the government hub in control of drawing and encouraging investment in Abu Dhabi, has included Fairwater Capital, Frontera Capital as well as Cofe App to the record of 37 firms that are benefiting from Adio’s Dh2bn (USD544.4) program inaugurated in 2020.
Companies in the Innovation Program, a section of Abu Dhabi’s Dh50bn (USD13.6) Ghadan 21 initiative, function in high-growth, tech-concentrated industries. Thirteen information and communications technology industry firms, nine agriculture technology, eight health facilities as well as biopharma companies and seven financial facilities firms are a section of the plan.
MENAFN13022022000045013568ID1103686732
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