RAK signs joint venture to set up Technology Innovation Centre
- United Arab Emirates: Sunday, February 27 - 2005 at 08:40
- PRESS RELEASE
The Government of Ras Al Khaimah has signed a joint venture agreement with CSEM (Swiss Centre for Electronics and Microtechnology, Inc.) for setting up a Technology Innovation Centre in RAK.
The Centre will provide state-of-the-art applied research facilities in the fields of micro/ nanotechnology, microelectronics, systems engineering and Information and Communication Technology.
The agreement was signed by H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, and Thomas Hinderling, Chief Executive Officer and member of the executive board of CSEM. Dr. Khater Massaad, Advisor to H.H. The Crown Prince and CEO of RAK Ceramics, was also present at the function.
The ambitious strategic partnership is expected to strengthen the presence of UAE in the high technology arena and in dispersion and upgrading of technology for UAE resident businesses. The RAK Government holds a 51 percent stake in the CSEM-UAE Innovation Centre with the remaining 49 percent held by the CSEM.
Speaking to media persons here today, Thomas Hinderling, CEO of CSEM, said that the high-tech know- how in micro and nanotechnology, coupled with systems engineering, will find its applications in a wide range of sectors including petrochemical industries and water and solar industries.
"The Centre will work in close collaboration with local and regional industrial partners and will also help in the creation of high-tech start ups in RAK. The firm would also act as a know-how centre for new businesses and would also take up coaching and consultancy in technology", he said. The Innovation Centre also intends to work in collaboration with HCT and Technology Parks in the future.
Hinderling said that the excellent infrastructure facilities, industrial friendly atmosphere and the beautiful environment in the emirate were the factors which made CSEM select RAK to set up base.
Dr. Khater Massaad said that the new venture would prove to be of great help to a large number of industries in RAK and in the whole of UAE. He said that the Innovation Centre is being set up as part of the vision of H.H. Sheikh Saud bin Saqr Al Qasimi, Crown Prince and Deputy Ruler of Ras Al Khaimah, to improve the educational and research facilities in the country.
CSEM, head quartered in Neuchatel, Switzerland, holds around 600 patents in various leading edge technologies and has a large portfolio of industrial and government clientele including NASA, IBM and Rolex.
The CSEM-UAE Innovation Centre will have an initial investment of USD five million in scientific equipments alone, and will start its operations within four months. The Centre will have its buildings near the RAK Ceramics factory.
Articles in this section are primarily provided directly by the companies appearing or PR agencies which are solely responsible for the content. The companies concerned may use the above content on their respective web sites provided they link back to http://www.ameinfo.com
Any opinions, advice, statements, offers or other information expressed in this section of the AMEinfo.com Web site are those of the authors and do not necessarily reflect the views of AME Info FZ LLC / 4C. AME Info FZ LLC / 4C is not responsible or liable for the content, accuracy or reliability of any material, advice, opinion or statement in this section of the AMEinfo.com Web site.