Welligence Joins UAE's NextGen FDI Initiative To Strengthen Regional Presence And Innovation

Welligence, a data analytics firm from the US, is expanding its footprint by joining the NextGen FDI initiative. This move will see the company establish an office in Abu Dhabi for its sales, research, and consulting teams. The initiative supports future-focused industries, and Welligence is considering forming a tech team in the UAE to further this goal.

Founded in 2017, Welligence offers AI-driven solutions that efficiently identify opportunities, assess competitors' portfolios, and evaluate economic impacts of greenhouse gas emissions. Their platform provides detailed information on energy projects across 193 countries. With offices in 10 cities globally, the UAE marks their first venture into the Middle East.

Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, highlighted that Welligence's expansion into the UAE showcases the nation's supportive ecosystem for high-tech firms. He stated, "Welligence is precisely the kind of cutting-edge enterprise the NextGen FDI initiative was created to attract. Their expertise in leveraging AI and machine learning to empower decision-making will significantly contribute to promoting both the energy and advanced technology sectors in the UAE."

The minister also noted that by establishing research and technology teams, Welligence will aid in advancing a knowledge-driven economy within the UAE. This aligns with the country's vision to foster innovation and technological growth.

Ross Lubetkin, CEO of Welligence, expressed enthusiasm about opening a regional hub in the UAE. He remarked that this step represents a significant milestone for the company. "The UAE has firmly established itself at the forefront of global energy innovation," he said, emphasizing its role in strategic energy investments and advanced technology.

Lubetkin added that Welligence's vision for energy research is driven by their technological capabilities. He stated, "With Welligence’s energy research vision driven by our technological edge, there's no better partner than the UAE." He also expressed gratitude towards the Ministry of Economy for its support.

This expansion underscores Welligence's commitment to contributing to both energy and advanced technology sectors in the region. By building a strong presence in Abu Dhabi, they aim to play a pivotal role in shaping a sustainable future through innovative solutions.

With inputs from WAM