The Competitiveness Office of Abu Dhabi, part of the Abu Dhabi Department of Economic Development (Added), has launched a new programme aimed at helping innovators turn their ideas into commercial projects.
The Abu Dhabi innovation incubators programme will support a “diversified, robust, smart and sustainable economy”, Added said on Friday.
It is part of the 14 initiatives under the “Abu Dhabi Innovates” programme that was launched in May to boost the emirate's innovation ecosystem.
The new programme focuses on developing clusters with high growth potential including the Internet of Things, data centres, cloud services, e-commerce, smart manufacturing, clinical research, asset management, commodity trading, tourism, FinTech, and AgriTech.
It will enhance the innovation ecosystem, support the development of business environment and strengthen Abu Dhabi’s status regionally and globally, said Sameh Al Qubaisi, director general of economic affairs at Added.
“This programme ... [also] provides regulatory and institutional frameworks that support innovation and research and development in vital economic sectors," he said.
“This will be achieved by following a set of policies and regulations to ensure that innovation incubators are well equipped and have the right operating model to support innovators at different stages.”
Abu Dhabi’s economy rebounded strongly last year on the back of government measures to curb the effects of the Covid-19 pandemic.
The growth momentum carried into this year has picked up pace and the emirate’s economy is expected to grow by 6 per cent to 8 per cent over the next two years, Mohammed Al Shorafa, chairman of Added, said in April.
S&P expects Abu Dhabi's economy to accelerate to more than 5 per cent in 2022, with output reaching 2019 levels in 2023.
Innovation incubators are among the top drivers that encourage individuals and provide incentives. They support and convert ideas or scientific inventions into commercial opportunities.
This programme is in line with Added’s commitment to support and develop prosperous projects and provide regulatory and institutional frameworks that support innovation and research and development in vital economic sectors.
Sameh Al Qubaisi,
Added’s director general of economic affairs
Public and private institutions that are investing in innovative technical solutions and supporting research and development are eligible to earn innovation incubator licences, after a thorough review by experts, Added said.
In the past, various academic and private institutions were granted incubator licences. They include Khalifa University, Al Ain University, Abu Dhabi University, Higher College of Technology, Khwarizmi International College, New York University Abu Dhabi, Plug and Play and Fat6lab.
“The programme will also facilitate access to financing opportunities and business deals as well as encouraging entrepreneurs and investors to deal with trusted incubators, select innovations to invest in and support innovators to navigate their way through challenges to success,” said Hala Al Ameri, executive director of the Competitiveness Office of Abu Dhabi.
The specs
Engine: Four electric motors, one at each wheel
Power: 579hp
Torque: 859Nm
Transmission: Single-speed automatic
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On sale: Now
From Conquest to Deportation
Jeronim Perovic, Hurst
The five pillars of Islam
Avatar: Fire and Ash
Director: James Cameron
Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana
Rating: 4.5/5
%3Cp%3EMATA%0D%3Cbr%3EArtist%3A%20M.I.A%0D%3Cbr%3ELabel%3A%20Island%0D%3Cbr%3ERating%3A%203.5%2F5%3C%2Fp%3E%0A
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.
Killing of Qassem Suleimani
Cinco in numbers
Dh3.7 million
The estimated cost of Victoria Swarovski’s gem-encrusted Michael Cinco wedding gown
46
The number, in kilograms, that Swarovski’s wedding gown weighed.
1,000
The hours it took to create Cinco’s vermillion petal gown, as seen in his atelier [note, is the one he’s playing with in the corner of a room]
50
How many looks Cinco has created in a new collection to celebrate Ballet Philippines’ 50th birthday
3,000
The hours needed to create the butterfly gown worn by Aishwarya Rai to the 2018 Cannes Film Festival.
1.1 million
The number of followers that Michael Cinco’s Instagram account has garnered.
UAE currency: the story behind the money in your pockets
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
Cry Macho
Director: Clint Eastwood
Stars: Clint Eastwood, Dwight Yoakam
Rating:**
THE DETAILS
Kaala
Dir: Pa. Ranjith
Starring: Rajinikanth, Huma Qureshi, Easwari Rao, Nana Patekar
Rating: 1.5/5
Porsche Macan T: The Specs
Engine: 2.0-litre 4-cyl turbo
Power: 265hp from 5,000-6,500rpm
Torque: 400Nm from 1,800-4,500rpm
Transmission: 7-speed dual-clutch auto
Speed: 0-100kph in 6.2sec
Top speed: 232kph
Fuel consumption: 10.7L/100km
On sale: May or June
Price: From Dh259,900
