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Tech Drive to support advanced technology adoption in the industrial sector
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Dubai - The Dh5 billion programme will also provide programmes and incentives to support entrepreneurs
A new initiative titled ‘Tech Drive’ has been launched to fund the industrial sector’s shift towards the applications of the Fourth Industrial Revolution over the next five years.
The Dh5 billion programme was launched in partnership with the Emirates Development Bank, Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, announced on Sunday.
“It will also provide programmes and incentives to support entrepreneurs in the industrial sector, aiming to achieve a Dh25 billion contribution to the GDP and raise productivity by 30 per cent,” Dr Al Jaber said.
The fund’s packages include financial and non-financial programmes, direct and indirect lending, capital investment in emerging and small and medium-sized companies, and advisory and guidance services.
Tech Drive operates as part of the efforts to advance the UAE’s economic diversification and industrial transformation.
dhanusha@khaleejtimes.com
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