As a key component of ESRG’s strategy to develop the most innovative approaches to combat major community and technology challenges, the ESRG Seed Fund is now operational. ESRG with Geminos Group has allocated an initial 500K AED to be invested over a 2-years period.
The Fund will focus on scientific impact whilst also seeking financial returns. Together with the resources already within UAE, including deep expertise in technology transfer, business development and wet lab diligence, the Seed Fund will optimise the chances of bringing transformative science to the technology and thereby address the demands of the venture and corporate communities.
The Fund will seek opportunities within the UAE initially, focusing on those with strong intellectual property positions and a proposition which it deems deliverable to market. It is not afraid to take risk, providing that there is sufficient specialist endorsement and verifiable local development & strategy demand. Funded plans need to demonstrate the ability to attract follow-on investment on achievements of their milestones.
The Seed Fund will work in close conjunction with ESRG’s Social Responsibility Fund, catalysing translational activity in the innovation and management. Together, these funds represent a new and integrated funding model for technology innovation in the UAE ecosystem and beyond.