WGS 2024: UAE launches $200m technology fund for developing nations

The UAE has launched a $200m fund to finance the development of sophisticated technology in developing nations.

The fund, which will be overseen by Abu Dhabi’s Advanced Technology Research Council (ATRC), is aimed at facilitating global access to cutting-edge technology solutions.

“ATRC stands ready to partner with countries worldwide, leveraging our expertise in technology to address their challenges and drive collective progress in the AI-driven era,” said Faisal Al Bannai, the secretary general of ATRC.

The newly launched ‘ATRC Global Tech R&D Platform’ serves as a channel for countries worldwide to tap into the UAE’s technological expertise to address their unique challenges.

The initiative seeks to bridge technology gaps experienced by nations worldwide by offering tailored solutions to their pressing needs.

“By committing to absorb resource and research costs, the funding facilitates the development of sophisticated technology solutions, empowering these nations to keep pace with the latest advancements,” ATRC said in a statement.

The ATRC Global Tech R&D Platform is inviting applications from governments, organisations, and eligible stakeholders from all over the world, prioritising collaboration, and inclusivity.

The platform supports six priority sectors including aerospace and space, food and agriculture, healthcare, sustainability, and energy.

UAE drives global tech development

Meanwhile, the UAE has channelled government funding for economic and social development projects in developing nations through its development agencies and foreign aid organisations.

Over the past four years, ATRC has developed a robust R&D ecosystem, with over 850 researchers from more than 70 countries. It has built an entire ecosystem that systematically supports every critical stage of a technology’s development journey.

ATRC’s unit ASPIRE crowdsources global talent through grand challenges and global competitions and identifies technology gaps with its clients.

The Abu Dhabi-based tech firm offers a spectrum of capabilities spanning quantum and artificial intelligence, autonomous robotics, and cryptography, as well as advanced materials, propulsion, and space–guiding technology needs from ideation to innovation.

ATRC’s global applied research arm, Technology Innovation Institute, was among the first to open-source its large language model (LLM), Falcon 40B under the Apache 2.0 license – royalty-free.

Open-source, royalty-free deployment of Falcon 40B could enable public and private sector entities with efficiencies such as faster project starts, faster iterations, more flexible software development processes, robust community-driven support, and easier license management.

Read: UAE’s Falcon 40B AI model is now royalty free for commercial, research use