UAE aims to be a Global Innovation Powerhouse
The UAE (United Arab Emirates) has set its sights on being one of the most innovative nations in the world within the next seven years. Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE has launched an ambitious innovation strategy that focuses on seven sectors – education, health, renewable energy, space, technology, transport and water. He also wants to create a national culture that encourages innovation and entrepreneurship.
And who would bet against him achieving these ambitions? After all, it was Sheikh Mohammed’s drive and vision that turned a tiny patch of desert into the global city of Dubai.
Getting Started
The National Innovation Strategy launched on the weekend, and the first phase includes 30 initiatives to be completed within three years. They encompass new legislation, innovation incubators, private-sector initiatives and an innovation drive within government.
“The UAE is already the most innovative Arab nation. Our target is to be among the most innovative nations in the world,” said Sheikh Mohammed.
“The competitiveness race demands a constant flow of new ideas, as well as innovative leadership using different methods and tools to direct the change.”
In trying to turn UAE into an innovation world leader, the strategy will operate on four parallel lines:
- Creating laws and institutions that support innovation
- Government entities will reduce spending by 1% which will then be invested in innovation projects
- Encourage private sector innovation by enticing companies to set up innovation and scientific research centers
- A focus on the education of individuals in science, technology engineering and mathematics
Tracking Progress
Investment in the nation’s innovation is expected to increase and a number of performance indicators will be established to measure progress.
Reader Comments
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