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![Khalifa University](https://gulfbusiness.com/wp-content/uploads/2021/11/2449987006790096048.jpg)
Khalifa University of Science and Technology in Abu Dhabi has established Khalifa University Enterprise Company (KUEC), which will serve as the university’s commercial and investment arm.
The new company is funded by an endowment of Dh100 million.
It is expected to encourage innovation and stimulate the creation of technology start-ups, while motivating students and alumni to explore entrepreneurship based on university research.
KUEC will include Innovation Acceleration and Startups and KU Ventures, which will support the establishment and operation of non-IP technology companies.
KUEC also includes an endowment, which allocates funds for investments and operations.
Khalifa University Enterprises was established and formed in consultation with three partners and will leverage the support of leading asset management firm BlackRock and global financial services firm JPMorgan Chase. On the innovation front, Techstars will play a key role in the growth and scale of new startups in the UAE.
.@KhalifaUni Khalifa University Enterprise Company (KUEC) was established to accelerate the innovation and economic impact of university research and intellectual property. pic.twitter.com/VoK3xwU2AE
— Abu Dhabi Media Office (@admediaoffice) November 28, 2021
BlackRock will invest the endowment’s assets in a diversified global portfolio on behalf of Khalifa University Enterprises, while J.P. Morgan will provide custodian services to KUEC and support the asset management portion of the endowment.
Techstars will focus on reviewing Khalifa University’s patents, conducting research to determine commercial suitability and feasibility, as well as market assessment and validation, which may lead to the development of prototypes and use cases.
KUEC will work with Khalifa University’s Office of Technology Management and Innovation to help generate commercial outcomes from the university’s intellectual property and bring university spin-offs to the market.
Likewise, Khalifa University Enterprise will work with the University’s Finance and Business Development Office to ensure that external partners and entities benefit from University resources and assets.
Dr. Arif Sultan Al Hammadi, Executive Vice-President of Khalifa University, said: “Khalifa University Enterprise will introduce a new research-education-economic ecosystem paradigm in Abu Dhabi, the UAE and the region. The intellectual, innovative and The financial proceeds will advance and enhance the University’s mission in research and innovation.”
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