The newly opened Tel Aviv branch of the Abu Dhabi Investment Office (ADIO) held its official launch event Monday, with hundreds of business leaders, entrepreneurs and heads of investment funds from both markets in attendance. The event, which introduced Israeli businesses to the opportunities available in the UAE capital, Abu Dhabi, officially kicked off ADIO Israel’s presence in the market and its mission to attract and support companies to integrate them into Abu Dhabi’s innovation and start-up ecosystem.
Prior to the launch event, ADIO Israel held a series of virtual meetings between senior executives and entrepreneurs in the health services & biopharma sector from both markets, over the course of four days. The meetings introduced and familiarized both parties with each of the local innovation and start-up ecosystems.
The networking initiatives represent part of ADIO’s efforts to increase cooperation with Israeli companies and introduce investors to the UAE. Since the normalization of relations between the UAE and Israel through the Abraham Accords signed last September, ADIO has established lines of formal cooperation with Israeli entities such as the Israel Export Institute, the Manufacturers Association of Israel, Invest in Israel and the Israel Innovation Authority.
Abu Dhabi is ranked 12th globally in the World Bank’s “Ease of Doing Business Subnational Report 2020”, and is a leading investment destination, ADIO noted.
“ADIO’s Israel office is our first international outpost, a reflection of our ambitions to support Israeli companies looking to set up in the UAE,” said Dr. Tariq Bin Hendi, director-general of ADIO. “Establishing our office here is an important milestone in the relations between our two markets and ADIO is fully committed to this partnership. The Israeli office will enable companies, people and entrepreneurs to get to know us in-depth and understand how we operate. Both our markets are aligned on the importance of innovation and entrepreneurship, which will undoubtedly play a key role in creating the solutions that will address many of the challenges facing humanity.”
“In the wake of the historic Abraham Accords, sectors such as technology, healthcare, agriculture, and financial services are fields in which the UAE and Israel can champion a model of cooperation both regionally and internationally,” said Mohamed Mahmoud Al Khaja, the UAE ambassador to Israel. “ADIO in Tel Aviv will help Israeli companies navigate the UAE’s economic landscape and unlock opportunities in Abu Dhabi.”
“What distinguishes Abu Dhabi is that it is an accepting and cosmopolitan environment, as well as being very structured and organized,” said Tally Zingher, managing director at Blue Laurel Advisors and CEO of Dawsat. “This makes it easy for entrepreneurs to navigate and there is a big opportunity here to enter a global market. Conversations between teams from both countries went from 0 to 100 this fall. The openness is beyond anyone’s expectations.”
Zingher also commented on the differences between the two cultures. “Israeli time horizons are much shorter than the rest of the region. In the UAE, I recommend that every Israeli who considers entering the market be patient and respectful of the system and processes in place. Do your homework. Come prepared. Understand history and be attentive to the messaging from the leadership,” he said.