Global technology powerhouse Siemens has announced an in-kind software grant of up to AED398.5 million for UAE universities to develop local skills.

The grant will see the company’s Product Lifecycle Management, PLM, and MindSphere software used for academic and institutional purposes to develop the skills required to drive the country’s digital transformation.

"The grant bolsters the company’s strong commitment to the region," said Joe Kaeser, President and CEO of Siemens during the inaugural Global Manufacturing and Industrialisation Summit, GMIS 2017, in Abu Dhabi.

To implement this, Siemens partnered with AIESEC, the global platform for young people to explore and develop their leadership potential.

For the first time in the Middle East, Siemens will also introduce MindSphere, its open, cloud-based Internet of Things, IoT, industry operating system, which helps businesses turn data into knowledge for measured success.

"Contributing to knowledge transfer and developing local skills has always been a top priority for Siemens. This grant underscores our commitment to supporting the UAE’s ambitions for a diversified and flexible knowledge-based economy powered by skilled Emiratis and world-class talent," Kaeser added.

Siemens is a founding partner of the GMIS where it will showcase technologies for the full digital enterprise, cybersecurity, energy optimisation, industrialised 3D printing and product lifecycle management.