Israel’s OurCrowd invests in a $60 million AI hub in Abu Dhabi
The Israeli investment platform will build on the UAE's efforts to become a world leader in artificial intelligence and attract more futuristic technology companies to the country.
ABU DHABI, UAE - The Israeli investment platform OurCrowd announced today the launch of a new artificial intelligence (AI) hub in Abu Dhabi. OurCrowd’s CEO said that the move will help attract people skilled in AI to the Emirati capital city.
“We intend to develop core AI technology by attracting some of the world’s best AI talent to Abu Dhabi, which not only is a great place to do business and access world markets but also to live and operate in an exceptional business environment,” Jonathan Medved told Al-Monitor.
What happened: OurCrowd is expanding its presence in Abu Dhabi by adding a new venture capital office and an AI tech hub. The latter is enabled by the Abu Dhabi Investment Office’s Innovation Program and is officially named Integrated Data Intelligence Ltd. The moves are part of a $60 million investment in Abu Dhabi by OurCrowd, according to the company's press release.
The Jerusalem-based platform first moved to Abu Dhabi under the name OurCrowd Arabia in 2021, following the Abraham Accords normalization agreement between Israel and the United Arab Emirates.
