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The Advanced Technology Research Council (ATRC) launched a USD 200 mn fund aimed at supporting technological advancements in developing countries on the sidelines of the World Government Summit, it said in a statement. The fund — dubbed the ATRC Global Tech R&D Platform — will be financed by the Abu Dhabi government and overseen by ATRC.
The details: The platform will facilitate access to advanced technologies developed in the UAE for governments and organizations in developing nations, as well as fund research projects, Reuters cites ATRC Secretary General Faisal Al Bannai as saying.
How it works: The organization plans to engage target countries as “private clients” to assess their needs for solutions, Al Bannai is quoted as saying. It will then either offer the solution as a donation or sell it to the country at an affordable price, Al Bannai said.
Target sectors: Projects in sectors including aerospace and space, food and agriculture, healthcare, safety and security, sustainability and environment, and energy and transport will be eligible for funding, according to the statement. Eligible projects can apply for funding here.
