In its role as a leading enabler of R&D and innovation in Abu Dhabi, the Advanced Technology Investment Company (ATIC), has partnered with the renowned Economist Intelligence Unit (EIU) to sponsor a series of research surveys into research and development (R&D) in the Middle East. The first two studies in the series were published today.
Developed on the basis of a global survey of more than 214 companies and executives, a series of in-depth interviews and extensive desk research, the studies provide valuable insight for the R&D community and decision-makers across the region.
Laying the foundations for a new era for R&D in the Middle East, the study revealed that interest in the region as a destination for R&D was growing, thanks to a combination of geography, infrastructure and market opportunity. The survey showed that more than half of companies regard the region as an increasingly important destination for R&D investment. Whilst, among companies from outside of the region, around 40% plan to increase their R&D investment in the Middle East over the next three years.
The second study, Fostering innovation-led clusters: A review of leading global practices emphasizes that specialized skills and a culture of innovation are critical factors in supporting R&D clusters to succeed. In particular, the study finds that clusters are about collaborations, not just locating firms in the same place. An attractive business environment, a good quality of life and a high degree of specialized focus for innovation clusters were also identified as crucial elements for success.
“The scale of the opportunity for R&D in Abu Dhabi and the wider region continues to grow. The surveys published today reinforce ATIC’s commitment to nurturing and supporting the development of a thriving culture of innovation and R&D in Abu Dhabi. They further provide insight and inform our strategy moving forward,” Ibrahim Ajami, CEO of ATIC, said.
“R&D is critical to the advanced technology industry. Through collaborative working partnerships, innovations keep companies like GLOBALFOUNDRIES at the competitive edge, supporting growth and delivering returns over the long run. As a catalyst for innovation in our economy, continued work in developing this area will create new sources of wealth, as well as exciting new opportunities for the people,” he added.
Commissioning the EIU studies is in alignment with ATIC’s commitment to nurturing the development of a robust technical R&D infrastructure, together with human talent capabilities. ATIC has already taken significant steps to foster industry-academia collaboration, with the establishment of professorships at Khalifa University and United Arab Emirates University. In addition, a collaboration between ATIC and advanced technology industry group the Semiconductor Research Corporation, has selected and provided funding for seven research projects at UAE universities that aims to ensure alignment between academic research and industry need. In human capital, ATIC is working across a range of development programs aimed specifically at building people capabilities that will prepare Emiratis for future roles within the advanced technology industry, including its highly regarded Al Nokhba program.