UAE takes the ‘innovative’ road

Alkesh Sharma / Emirates Business

Creativity and innovation are the buzzwords around which the future economic plans and strategies of the United Arab of Emirates revolve around these days. UAE leadership announced a detailed plan worth over AED300 billion to become a “knowledge-based economy” and end dependence on oil for sustainable growth.
“UAE is witnessing burgeoning corporate ecosystem where innovation is the ultimate road to success. We stay up-to-date with the latest technology and keep rolling out latest innovations as these are the only mechanisms to survive in this competitive environment. As we are operating in the IT industry, so expectations of customers are obviously high from us,” Mohammad Ali, a cyber-expert, working as an IT consultant with Dotnet Solutions (a Germany-based IT start-up) in Dubai, told Emirates Business.
“However, the path to innovation is not at all difficult in the UAE, as government here is very supportive. We are getting full support from the government and their policies are very innovation driven thereby nurturing a healthy business atmosphere,” added Ali.
The UAE is investing big time in science and advanced technology, including fields such as robotics, solar power, developing intellectual property, stem cell research and bio-technology to attain the goal.
“Steadfast to become a knowledge-based economy, the UAE is pumping in huge funds into fields of green energy, education, transportation and commerce, and encouraging innovation in every sphere. We are running an incubator where we help corporate sector to devise innovative strategies to enhance their business prospects. Our emphasis is always upon ensuring current prosperity coupled with long-term sustainability in the business,” Nafisa Mehmood, who is a senior member of Dubai-based seed-funding group and incubator, told Emirates Business.
Notably, there are many pioneering projects undergoing in the Emirates to boost innovation culture in the DNA of the corporate sector.
One of these many projects is ‘Energies’; the first of its kind in the region, which aims to utilise solar power and cars and motorcycles’ kinetic energy to generate electricity. Another ground-breaking project is ‘Factory of UAE Pioneers’ — a human resources system based on artificial intelligence and smart technology. It aims to help young men identify their strengths, choose their career, and set their personal plans without human intervention.
As a result of many such initiatives, the UAE has been ranked second within the Gulf Cooperation Council (GCC) region, after Saudi Arabia, on the 2015 edition of the Global Innovation Index (GII), which surveyed 141 economies around the world and used 79 indicators to gauge their innovative capabilities. Switzerland, the United Kingdom, Sweden, the Netherlands and the United States are the world’s five most innovative nations, according to the GII.
However, the UAE is moving steadily to be among the top 20 countries in the world in the GII by 2021 with a sheer focus on renewable energy, transportation, technology, education, health, water and space.