Due to UAE’s constant efforts enhancing its status through innovation and creativity, it has now become one of the leading countries in the Gulf region. The country also has been able to create an ideal destination where people can grow their businesses and nurture talented professionals.
The UAE has expanded into a knowledge-based economy by supporting research, science and technology. Private and public sectors have been able to build effective partnerships amongst each other due to UAE’s extremely productive and competitive economy that is fueled by entrepreneurs in a business-friendly environment.
In order to help brand UAE as one of the most innovative nations in the world, the National Innovation Strategy has been launched by His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai. this initiative will act as a crucial tool to achieve Vision 2012 and will be an engine for growth across the nation.
The National Innovation Strategy will strive to encourage innovation throughout the country as it is a primary aspect for growing the country’s economy, increasing competitiveness and revealing many job opportunities. The strategy will be lease in seven national sectors such as transportation, technology, education, health renewable and clean energy, water and space.
The renewable energy strategy will produce an innovative business unit to advance distributed power generation projects such as small-, medium- and large-scale solar installations. This will drive innovation in the renewables industry, as well as also support research in clean technology.
Funding renewable projects
The fifth round of funding has been launched for renewable energy projects for development countries by Irena and the Abu Dhabi Fund for Development (ADFD). The funding round of approximately $50 million is part of the ADFD’s $350 million (Dh1.285 billion) commitment to offer concessional loans to renewable energy projects endorsed by Irena. These steps taken, will help transform the strategy into a reality.
to help develop innovation in air and sea travel, the transportation strategy will intend to organize and create new products and services to excel in a more effective manner and save time. The UAE already has a well-established road network, which has multilane motorways that are able to handle the high demand of rad transportation in the country.
innovative schools, universities and labs will be launched under the education sector strategy, this will help build on certain targeted skills of students such as critical thinking, problem solving, creativity, perseverance and adaptability. A five-year plan has been introduced by the Ministry of Education “Education 2020’ which will introduce cutting-edge education techniques, develop innovative skills and concentrate more on a student’s self-learning abilities. An enhanced curriculum for mathematics and integrated science will also be offered now in every form of educational institutions, along with goal-oriented tutoring.
The health strategy will support new innovative measures that will improve technologies in the healthcare sector. it will create strategic partnerships that will support medical research and stimulate the growth of the biotechnology and pharmaceutical industries. According to Alphen Capital, the UAE healthcare market size is expected to increase from 12.1 billion USD to 19.5 billion USD (Dh71.56 billion) by the year 2020, with an annual average growth of 12.7 per cent. This is marginally higher than the GCC growth average.
In order to cope with water scarcity, the water strategy will seek out more innovative projects to combat this issue. In the past 6 years, Dubai has saved up to almost six billion imperial gallons of drinking water because of its numerous conservation campaigns, according to Dewa.
The UAE Space Agency is responsible for unifying, supervising and managing the nation’s space sector in addition to supporting its contribution to the national knowledge economy. The space strategy will utilize space technology for the purpose of education and satellite communication, as well as dedicated research on terrestrial applications.
As UAE takes the initiative with The National Innovation Strategy, it is clear that the country will effectively be able to transform vision into reality.