When the Advanced Technology Investment Company (ATIC) was created last year, its mandate called for it to deliver economic and social returns to Abu Dhabi.
While the economic returns depend on ATIC's ability to turn around the businesses of two unprofitable microchip makers, the social returns are even more ambitious: to bring an advanced technology industry to the emirate. ATIC has acquired Chartered Semiconductor from Temasek Holding, Singapore's equivalent of Mubadala Development. And Singapore demonstrates what can be gained from such investments.
The city-state has become one of the world's leading exporters of electronics and home to a thriving high-technology sector.
Abu Dhabi has put big money into its high-tech hopes, investing in research centres, universities and advanced manufacturing.
ATIC has already put US$2.1 billion (Dh7.71bn) into Globalfoundries, its chipmaking joint venture. It said it will spend up to $6bn more on new capacity.
Bring the Chartered deal into the equation, and it is not hard to see ATIC's microchip investments hitting $10bn.
But with a small population and a limited pool of technical talent, Abu Dhabi's aim to become a big player in the industry can be challenging.
Aside from cash injections, it will need, as the chief executive of ATIC, Ibrahim Ajami, said, "focus, the right level of expertise and a solid execution mindset". This is not rocket science, but it is not far from it.
tgara@thenational.ae
Abu Dhabi traffic facts
Drivers in Abu Dhabi spend 10 per cent longer in congested conditions than they would on a free-flowing road
The highest volume of traffic on the roads is found between 7am and 8am on a Sunday.
Travelling before 7am on a Sunday could save up to four hours per year on a 30-minute commute.
The day was the least congestion in Abu Dhabi in 2019 was Tuesday, August 13.
The highest levels of traffic were found on Sunday, November 10.
Drivers in Abu Dhabi lost 41 hours spent in traffic jams in rush hour during 2019
Company Profile
Company name: Hoopla
Date started: March 2023
Founder: Jacqueline Perrottet
Based: Dubai
Number of staff: 10
Investment stage: Pre-seed
Investment required: $500,000
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
TWISTERS
Director: Lee Isaac Chung
Starring: Glenn Powell, Daisy Edgar-Jones, Anthony Ramos
Rating: 2.5/5
Bundesliga fixtures
Saturday, May 16 (kick-offs UAE time)
Borussia Dortmund v Schalke (4.30pm)
RB Leipzig v Freiburg (4.30pm)
Hoffenheim v Hertha Berlin (4.30pm)
Fortuna Dusseldorf v Paderborn (4.30pm)
Augsburg v Wolfsburg (4.30pm)
Eintracht Frankfurt v Borussia Monchengladbach (7.30pm)
Sunday, May 17
Cologne v Mainz (4.30pm),
Union Berlin v Bayern Munich (7pm)
Monday, May 18
Werder Bremen v Bayer Leverkusen (9.30pm)
Women’s T20 World Cup Qualifier
UAE fixtures
25 April – Ireland v UAE*
27 April – UAE v Zimbabwe**
29 April – Netherlands v UAE*
3 May – UAE v Vanuatu*
5 May – Semi-finals
7 May – Final
UAE squad: Esha Oza (captain), Al Maseera Jahangir, Avanee Patel, Heena Hotchandani, Indhuja Nandakumar, Kavisha Kumari, Khushi Sharma, Lavanya Keny, Mehak Thakur, Rinitha Rajith, Samaira Dharnidharka, Siya Gokhale, Suraksha Kotte, Theertha Satish, Vaishnave Mahesh.
*Zayed Cricket Stadium
**Tolerance Oval
The Specs
Engine: 1.6-litre 4-cylinder petrol
Power: 118hp
Torque: 149Nm
Transmission: Six-speed automatic
Price: From Dh61,500
On sale: Now
Dengue fever symptoms
High fever (40°C/104°F)
Severe headache
Pain behind the eyes
Muscle and joint pains
Nausea
Vomiting
Swollen glands
Rash
The Boy and the Heron
Director: Hayao Miyazaki
Starring: Soma Santoki, Masaki Suda, Ko Shibasaki
Rating: 5/5
The specs+
Engine: 2x201bhp AC Permanent-magnetic electric
Transmission: n/a
Power: 402bhp
Torque: 659Nm
Price estimate: Dh200,000
On sale: Q3 2022
Kill
Director: Nikhil Nagesh Bhat
Starring: Lakshya, Tanya Maniktala, Ashish Vidyarthi, Harsh Chhaya, Raghav Juyal
Rating: 4.5/5
Company profile
Company name: Ogram
Started: 2017
Founders: Karim Kouatly and Shafiq Khartabil
Based: Dubai, UAE
Industry: On-demand staffing
Number of employees: 50
Funding: More than $4 million
Funding round: Series A
Investors: Global Ventures, Aditum and Oraseya Capital