Dubai Holding, Dubai Future Accelerators join hands

Dubai / Emirates Business

Dubai Holding, the global investment holding company, announced on Monday its role as a founding entity in Dubai Future Accelerators, the programme by Dubai Future Foundation that focuses exclusively on the identification and deployment of futuristic prototypes and products on a city-wide scale. Under the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, Dubai Holding together with Dubai Future Foundation, is investing one billion dirhams in projects and companies of the programme over the course of five years.
Other partners include Road & Transport Authority (RTA), Dubai Electricity and Water Authority (DEWA), Dubai Municipality, Dubai Police, Dubai Health Authority and Dubai Knowledge.
The Dubai Future Accelerators, the world’s largest government-supported accelerator, has been established to develop a futuristic roadmap of key sectors for the Government of Dubai and to facilitate public-private partnerships that expedite its delivery through design, innovation and entrepreneurship.
Each of the founding entities presented one challenge that addresses a critical issue in key sectors of Dubai’s economy inviting innovative start-up companies to embark on large-scale collaborations with them. Dubai Holding is focusing on digital solutions across the hospitality, food and beverage, and real estate sectors that reduce paperwork and the need for human intervention, while increasing transaction speeds and customer satisfaction.
Ahmad Bin Byat, Vice Chairman & Managing Director, Dubai Holding, said: “Dubai Holding is very pleased to be a founding partner of Dubai Future Accelerators. This is a very exciting moment for Dubai Holding, where we are hosting and collaborating with some of the brightest entrepreneurs in the global tech industry to deliver enhanced experiences to our wide universe of customers and the wider community. Teams from across the Group are supporting them on the new concepts and disruptive technologies that Dubai Holding will benefit from. These advancements will ultimately drive happiness amongst people across Dubai. We are seeing innovation unfold at our premises, and are proud to be helping bring the future of Dubai forward.”
Bin Byat added: “Aligned with the Leadership’s vision, we believe that innovation is the key to the next phase of Dubai’s growth. Our partnership with Dubai Future Foundation demonstrates Dubai Holding’s role as a key catalyst to the Emirate’s economic diversification. Through our support to their initiative, we are driving forward the National Innovation Strategy, which is vital to achieving the UAE Vision 2021.”
From nearly 2,300 applications submitted to the programme, 31 companies were shortlisted to work with the founding entities, with four working with Dubai Holding in the 12-week long first phase.
These companies are start-ups that focus on blockchain technology, digital personalisation, robotics and virtual reality to create innovative, feasible and cost-effective solutions for enhancing the interaction between the Group’s
businesses.