Dubai: Sultan Al Mansouri, UAE Minister of Economy, announced the launch of the Mohammed Bin Rashid Al Maktoum Business Innovation Award, an initiative of the Ministry of Economy in cooperation with Dubai Chamber of Commerce and Industry.
This initiative comes with the declaration of 2015 as the UAE year of innovation and in line with UAE innovation strategy.
“Innovation is key to the UAE’s quest to build a business environment that supports economic growth. The country is making great strides in developing the pillars of a knowledge economy and our leadership is committed to this paradigm shift with the help of innovation,” Al Mansouri said.
Hamad Bu Amim, President and CEO of Dubai Chamber, said that the chamber is launching two new major initiatives to lead innovation growth in the emirate including the Dubai Private Sector Innovation Index which is a first-of-its-kind in the world and will measure Dubai’s progress in becoming the world’s most innovative city.
“The second one is the Dubai Chamber Innovation Strategy Framework that will lead our contribution to the national innovation strategy. This framework will be the first outside the US and will provide a benchmarking tool against other countries and a road map for future implementation,” said Bu Amim.
