A drive to cultivate start-up businesses in Abu Dhabi was announced as a Dh50 billion bid to accelerate the emirate's economic growth continues to take shape.
Ghadan 21 – which means 'tomorrow' in English - is the banner name for a series of reforms aimed at stimulating investment, creating jobs, encouraging innovation and improving the overall quality of life for citizens.
The major project was put in motion by Sheikh Mohammed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and continues to gather pace.
The plan will feature 50 initiatives focused on four areas - business and investment, society, knowledge and innovation, and lifestyle.
Earlier this week, more details were revealed about 10 projects that will take place in the area of society, including plans to provide thousands of new jobs, homes and places in schools.
The Abu Dhabi Government has unveiled another 16 initiatives focusing on the areas of knowledge and innovation.
The programme, which will be rolled out over the next three years, aims to support the capital’s transition to a highly productive, knowledge-based economy which develops, attracts and retains the best global talent.
As part of the wide-ranging reforms, the Abu Dhabi Government will forge a partnership with the private sector to create and launch a new technology incubator to attract and develop start-ups.
A business incubator is a system that helps start-up companies to grow by providing services such as management training or even office space.
The project will also focus on promoting research and development, incentivising automation and renewables in large industries, funding university and start-up R&D operations, and promoting R&D-friendly regulations in Abu Dhabi.
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Read more on Ghadan 21:
[ Tomorrow 2021: Abu Dhabi business leaders predict a stronger 2019 ]
The UAE explained: What are the new plans for the economy and why do we need them?
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The initiative will focus on head hunting key professionals, and amending visa and labour regulations to accommodate highly-skilled talents.
In addition, training and development programmes will be rolled out to support high-skilled talents, while efforts will be made to encourage businesses to move to - and remain part of - Abu Dhabi.
