Abu Dhabi's G42 and Israeli firm Viola partner up in new tech venture
15/06/2023 13:54
DUBAI, June 15 (Reuters) - Abu Dhabi's artificial
intelligence firm G42 and Israeli technology investment company
Viola Group, which manages $5 billion in assets, on Thursday
announced Global Valley, a joint venture to set up a new
platform to meet demand for high-skilled tech talent.
Based in the UAE capital, Global Valley will employ
specialised tech-focused workers from around the world providing
a variety of services, as well as help develop Abu Dhabi's local
tech sector, a statement from the Abu Dhabi Investment Office,
which provided support for the project, said.
No figure for the value of the investments by any of the
involved parties was provided in the statement.
ADIO is a government vehicle tasked with expanding private
sector investment into the emirate and helping diversify its
economy.
"Tech in our minds is going to be a functional
infrastructure-related industry for us to build everything, from
our healthcare sector, financial services, to tourism and so
forth," said Abdulla Abdul Aziz AlShamsi, director general of
ADIO.
"Creating this cluster in Abu Dhabi is fundamental to what
the future economy will require. We are looking to diversify Abu
Dhabi's economy, we want and are developing further platforms
for growth. We want to give our people opportunities in every
industry," Shamsi told Reuters.
Trade and investment ties between the UAE and Israel have
grown since the signing of the Abraham Accords agreement in
2020, establishing diplomatic relations.
(Reporting by Rachna Uppal; editing by Jason Neely)
((rachna.uppal@thomsonreuters.com;))