Abu Dhabi aims to lure start-ups with investment in new technology hub

📆 25/03/2019 06:30:00
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Abu Dhabi aims to lure start-ups with investment in new technology hub.

ABU DHABI - Abu Dhabi will commit up to 1 billion dirhams to support technology start-ups, it said on Sunday, in a dedicated hub as part of efforts to diversify its economy.

The emirate launched a 50 billion dirham stimulus fund, Ghadan 21, in September last year to accelerate economic growth. Ghadan means tomorrow in Arabic. Mubadala, with assets of $225 billion and a big investor in tech companies, will act as the driver of the hub, located in the emirate's financial district.

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