UAE, The most innovative nation in Arab world
Jaya krishnan, Partner
A series of initiatives that the government has implemented over these years has helped the country maintain its status. The initiatives include;
Mohammed bin Rashid Centre for Government Innovation
The Centre established in the year 2014, was a move by the government to make the country one of the most innovative across the globe and it has been successful so far. The centre has been fruitful in fulfilling many initiatives;
- Innovation Diploma
Conducted in collaboration with the University of Cambridge in the UK, the programme intends to prepare a generation of innovative CEOs, who can be of boon to the government industries.
- Government Innovation Labs
Labs that use innovative methods to inspire creative ideas and come up with strategies for the various challenges faced by government entities, is also a part of the programme. All stakeholders come together and discuss various government challenges through solution-focused perspectives.
- Ibtikar talks
These talks aim to enhance the efficacy of processes and keep updated with the latest technological developments. It also stimulates innovation in significant sectors and increases the cooperation between various government organizations.
- ‘CEO of Innovation’, a new post in Government entities
A new post was added in every government department, titled CEO of innovation. This shows how seriously the UAE government has taken the concept of innovation.
Emirates Science, Technology and Innovation Higher Policy
The policy was announced in the year 2015. 100 national initiatives are covered under the strategy and the estimated budget is more than AED 300 billion. Special fields such as aviation industries, global pharmaceutical industries, solar power, civilian nuclear energy programme and robotics are given special prominence.
A sustainable economy that will rely on science, knowledge and technology is intended out of this policy.
Dubai Future Accelerators
The accelerators are programmes and integrated systems that will enable entrepreneurs and innovators to convert their ideas into successful companies. As a part of the initiative, renowned global companies and entrepreneurs collaborate and address certain key opportunity that include;
- The application of artificial intelligence and robotics
- 3D printing
- New business models and best practices
Dubai – hub for Innovation and Technology
His Highness Sheikh Mohammed bin Rashid Al Maktoum has been coming up with constant strategies to enhance Dubai’s position as a hub for innovation and technology. Some of the efforts include Museum of the Future, World’s first 3D-printed building and the various free zones that promote innovation in the city.
According to Sultan bin Saeed Al Mansouri, UAE Minister of Economy, on the country coming first in Arab nations with respect to innovation, “Newer initiatives will be rolled out with the chief goal of further expanding fundamental and applied research conducted in the country and linking it to robust financing mechanisms. In addition, the country is looking to enhance the knowledge economy by amplifying the number of intellectual property applications and registrations made inside the UAE through the attraction of foreign companies and the introduction of licences for IP holding companies.”
UAE will hopefully retain its position in the coming years as well and with numerous strategies in place, it won’t be tough.
UAE-Israel Business Opportunities
UAE and Israel have recently joined hands to establish a friendly-business relationship offering more opportunities for both countries.
Factors to Consider while Buying Property in Dubai, UAE
Looking forward to buying a property in Dubai? Well, now is the time to make a move on your dream. While the pandemic hit hard across the world,
Get in touch
Whatever your question our team will point you in the right directionStart the conversation