A man rides a scooter near the flags of the US, United Arab Emirates, Israel and Bahrain, as they flutter along a road in Netanya, Israel, Sept. 14, 2020. Photo: Reuters / Nir Elias.

CTech — The newly opened Tel Aviv branch of the Abu Dhabi Investment Office (ADIO) held its official launch on 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 kicks off ADIO Israel’s presence in the market and its mission to attract and support companies from strategic industries in order to integrate them into Abu Dhabi’s innovation and startup ecosystem.

“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 H.E. 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.”

Prior to the launch event, ADIO Israel held a series of virtual meetings between senior executives and entrepreneurs in the Health Services and 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 startup ecosystems.

“When you enter a new market, it’s advised to understand the local culture and markets, it is also important to hire a good local team in order to build a local headquarter,” said Eyal Waldman, former president and CEO Mellanox. “The UAE is an important partner. Abu Dhabi could become a sales center for the Arab world. It can be a strategic place for entrepreneurs and startups. Abu Dhabi is a supportive, encouraging environment. I met various entities there that encourage us to open development and innovation centers there.”

Waldman also added some recommendations to those aspiring to enter a new global market: “Be honest and open to studying new cultures. Be humble and determined. Success doesn’t come easy. It Is easier to find and hire the right people.”