The Palestine Techno Park (PTP) has recently signed a memorandum of understanding with the Palestine Automobile Company (PAC) on Thursday, May 16, 2019, that establishes joint cooperation between the two organizations on supporting the Palestinian digital entrepreneurship sector; carrying out joint research projects within the techno park’s innovation, science, and technology labs; and developing an application for the PAC.
The agreement was signed by Palestine Techno Park CEO Rasem Suwan and Palestine Automobile Company CEO Nader Hawari, with ARVR Innovation Labs Manager Baseem Mayala and PAC Business Development Manager Ammar Al Qawasmi in attendance.
In addition to the aforementioned joint cooperation, the two parties will also exchange information and expertise to develop technological applications that meet the needs of the PAC, such as an augmented-reality application that showcases one of the company’s showroom cars.
After the signing ceremony, the teams toured the Palestinian-Indian Techno Park Building site. Nour Al-far, the senior project engineer who led the tour, explained that the building — which is estimated to be ready later this year — will serve as the cornerstone of the Palestine Techno Park.
Once ready, the building will provide an open space for innovation and entrepreneurship, offering services for students, researchers, and entrepreneurs. The building will house the Techno Park’s Innovation Labs, which focus on integrating nascent technologies, such as augmented and virtual reality, artificial intelligence, and financial technology, into Palestinian industries and research and development centers.
Palestine Automobile Company (PAC) is the sole distributor for the Hyundai Motor Company’s entire line-up of passenger cars, trucks and vans, in addition to Fiat Chrysler Automobiles vehicles. Founded in 1996 as a private shareholding company, and acquired by APIC in 1998.
Established in 2016, the Palestine Techno Park is a nonprofit organization that supports scientific institutions, entrepreneurial projects, and technology-related organizations. A member of the International Association of Science Parks and Areas of Innovation, the Techno Park is working to transition Palestine toward a knowledge-based economy and to cluster local technology sectors and integrate them with global value chains