Cloud based education is a in need in developing countries and sure in developed countries it has already reached mature model. Abu Dhabi is coming up as a new node for IT hub. THe Government is putting in all efforts to get the infrastructure ready. But there are hardly any hardware or software engineers there, may be this will initiate a new era there.
This step is a very nice initiative. In-fact semiconductor manufacturing is only a business of few giant corporate. If the spread of that is not made available to larger number of people or companies then this will be lead to a dead lock in worst conditions like natural calamities or world war. In developed countries the general scenario is of centralization of techniques/technologies, only china can make it available to larger number of instances. The way they have did it for the mobile phones. In US you can find only Apple and Asus, where as in china you will be able to find so many manufacturers.
One thing I forgot to mentioin, is that SRC is now letting smaller companies sigh-up for just a part of there efforts-for instance, a startup can sign-up just for IoT support or its low-power efforts. This should be a real boon to companies that don't have the resources to become a regular member of SRC.
Electronics could reach beyond one can think, but due to the lack of availabilities of manufacturing integrated circuits it is getting restricted. The process is still so sophisticated and only available at few places. This initiative will at least make others start exploring possibilities for it.