ADIO develops the economy of Abu Dhabi with 1 billion Dhs now allocated to 37 companies

Companies in the innovation program operate in high-growth, technology-driven sectors. W.A.M.

The Abu Dhabi Investment Office (ADIO) kicked off 2022 with three new Innovation Program partnerships, bringing the total incentives awarded to date to Dhs 1 billion ($272 million). Fairwater Capital, Frontera Capital and COFE App join a total of 37 companies benefiting from ADIO’s Dhs 2 billion ($545 million) innovation program since its launch in 2020.

The companies in the innovation program operate in high-growth technology-driven industries, with 13 in the information and communications technology (ICT) sector, nine in agricultural technology (AgTech), eight in services healthcare and biopharmaceuticals and seven in financial services. The program fuels the development and diversification of Abu Dhabi’s economy, led by an innovation ecosystem in which companies in the innovation program create technology solutions to benefit the region and beyond.

Mohamed Al Dhaheri, Acting Executive Director – Commercial Enterprises, ADIO, said: “ADIO’s innovation program attracts around two new, fast-growing technology companies to Abu Dhabi every month. Its success demonstrates the emirate’s commitment to creating an environment where businesses can come together to imagine, collaborate and create.

Our 37 Innovation Program Partners are already making a regional impact, and we are committed to helping them accelerate their progress by equipping them with the resources and support they need to grow. With Dhs 1 billion remaining in incentives ready to be allocated under the program, we look forward to welcoming many more innovative companies to our forward-looking community, where they can make a real impact at scale. world. As part of the innovation program, ADIO provided Fairwater Capital, Frontera Capital and COFE with competitive financial incentives, including payroll and allowance discounts for highly skilled workers and high-tech CAPEX, as well as non-financial incentives, such as support for settlement processes. and ecosystem engagement.

Fairwater Capital and Frontera Capital are financial services companies that will advance financial innovation in and from Abu Dhabi. The emirate offers an ideal base and gateway for the expansion of financial services companies, serving as a bridge between time zones, while providing a favorable regulatory environment through the Abu Dhabi Global Market (ADGM).

Fairwater Capital was founded in London as a multi-strategy investment manager. ADIO’s partnerships will enable Fairwater Capital to establish its global quantitative research center, global data center and operations center in ADGM to support and expand the range of its investment strategies, including credit and renewable energies.

Paul Lavelle, CEO and Partner of Fairwater Capital, said, “We are grateful for ADIO’s support and look forward to working collaboratively with them as we take our business to the next level. Fairwater Capital is focused on constantly evolving its team, investment process, and developing strategies to consistently deliver consistent alpha to investors. At the heart of this evolution are research and data.

Abu Dhabi is the perfect hub to harness the strengths of the local economy and community and complement them with outstanding international talent to create an international center for research and quantitative data. Frontera Capital is a boutique investment firm focused exclusively on matching the risk appetite of international investors with domestic funding needs in frontier markets. With support from ADIO, Frontera Capital will expand ADGM’s capabilities in originating, structuring and distributing frontier market risk through enhanced ADGM-based infrastructure and support.

Vicente Pons, CEO and Founder of Frontera Capital, said, “At Frontera Capital, we deploy cutting-edge research into frontier debt and foreign exchange markets to identify and structure investment opportunities for institutional investors around the world. With an extensive global reach, we considered several other financial centers before moving to Abu Dhabi due to the emirate’s business-friendly environment as well as its convenient time zone, central location to a more large number of frontier markets and excellent global and regional logistics networks.

ADIO has also shown a strong commitment to support the continued expansion of our business locally, which will have specific tangible benefits for the ADGM ecosystem in terms of financial services capabilities and infrastructure, as well as facilitating development. of frontier markets in general. COFE App is a cutting-edge coffee-centric app for the beverage market, which provides quick access to a wide range of international coffee franchises and artisan coffee brands through multiple premium services and features on a single platform. COFE App provides 360 degree solutions for coffee lovers looking for a smart way to have their daily coffee.

The partnership with ADIO will see COFE App move its global headquarters to Abu Dhabi, where the startup will continue to grow the coffee market and further establish itself in the beverage and technology ecosystem.


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