Business Bureau, Gulf Today

Dubai Future Council (DFC) for Entrepreneurship and Innovation Ecosystem, part of Dubai Future Councils, organised a meeting to discuss ways of involving the community in shaping an integrated network to support entrepreneurs and innovators in establishing their startups and launching new projects that significantly contribute to the country’s economic growth.

The meeting, held at AREA 2071 drew the participation of more than 150 government and private sector entities.

In addition to members of the Council and representatives of entities of both sectors, attendees from international organisations, educational institutions, free zones, venture capitalist, and the investment sector keen to support the innovation ecosystem at the national and international levels also joined the meeting to share their views.

During the closed session, Abdulla Bin Touq, Secretary General of the UAE Cabinet, presented several government initiatives aimed at creating an enabling environment for innovation, including the Regulations Lab that seeks to establish a robust legislative framework for developing, testing and implementing ideas of the future.

Khalfan Belhoul, CEO of Dubai Future Foundation, said that the main mission of the Dubai Future Council for Entrepreneurship and Innovation Ecosystem is to provide a platform to study and design supportive mechanisms for innovators and entrepreneurs in Dubai and the wider UAE. Furthermore, the Council seeks to build national capacities and attract global talent to develop future industries, generate new ideas and launch innovative projects.

Belhoul pointed out that the contributions of the stakeholders of Dubai’s innovation ecosystem will help find quick and practical solutions to various challenges across vital sectors, support entrepreneurs, qualify national talent and provide better opportunities for startups.

The participants discussed several proposals to strengthen cooperation between the public and private sectors in translating the ideas of innovators into reality and encourage entrepreneurs to launch new projects that support the future economy model based on knowledge and innovation.

Launched by His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of The Executive Council of Dubai, the Dubai Future Council for Entrepreneurship and Innovation Ecosystem focuses on the implementation of seven key themes for this vital sector: supporting and financing innovative ideas and projects, highlighting success stories, promoting awareness about the importance of innovation and entrepreneurship, collaborating with government and private sector entities, investment programs and international funds, encouraging an entrepreneurial mindset among diverse segments of society, partnering with academic institutions to leverage the creative ideas of students and fresh graduates, and motivating the students to embrace entrepreneurship.

Last week Sheikh Maktoum Bin Mohammed Bin Rashid Al Maktoum, Deputy Ruler of Dubai, attended the opening session of the Fourth Meeting of the Global Future Councils hosted by the UAE government in collaboration with the World Economic Forum. More than 700 world-leading officials, futurists and experts convene in 41 future councils to design innovative solutions for the future challenges in vital sectors.

The Opening session was attended by Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future and Co-chair of the Global Future Councils; Borge Brende, the President of the World Economic Forum; Hessa Bint Essa Buhumaid, the Minister of Community Development; Ohood bin Khalfan Al Roomi, Minister of State for Happiness and Wellbeing and the Director General of the Prime Minister’s Office; Mariam Hareb Almheiri, Minister of State for Food Security; Sarah bint Yousif Al Amiri, Minister of State for Advanced Sciences; and Omar Sultan Al Olama, Minister of State for Artificial Intelligence.

In his opening remarks, Mohammad Al Gergawi stated that His Highness Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has placed a great passion in the future of all sectors in the UAE, through his vision that cultivates a culture of proactive thinking in the UAE community.

Al Gergawi said that the future councils will feature plenty of questions that need answers to help governments, decision-makers and international organizations globally to understand the future and respond to its challenges. Such questions tackle the future financial systems, digital economy, geopolitics, world trade and investments, jobs, entertainment, education, transport, energy, and the Internet of Things.