Classifieds | Archives | Jobs | About TGT | Contact | Subscribe
 | 
Last updated 8 minutes ago
Printer Friendly Version | TGT@Twitter | RSS Feed |
HOME LOCAL MIDEAST ASIA WORLD BUSINESS SPORT OPINION WRITERS
Dubai to be ‘world’s smartest city’ by 2021
February 10, 2016
 Print    Send to Friend

DUBAI: The Dubai Chamber of Commerce and Industry (DCCI) has released the Dubai Innovation Index (DII) Report, highlighting the results of the DII which was launched by the Chamber in collaboration with PwC in 2015, to support UAE’s vision for innovation and to promote Dubai’s quest towards being the smartest city in the world by 2021.

The Index has been designed to compare Dubai with 28 global cities on macroeconomic measures of innovation and to analyse innovation performance of Dubai’s private sector, including at the firm level. Through the Index, the Chamber wants to create awareness and increase the participation of the private sector in the total innovation efforts of the city of Dubai, and provide a benchmark to measure innovation.

In the Report, London has emerged as the most innovative city, followed by Hong Kong and Singapore respectively. Dubai ranks 16th across 28 global cities, ahead of cities such as Madrid, Milan, Sao Paulo, Mumbai, Shanghai and Beijing.

Hamad Buamim, President and CEO, Dubai Chamber remarked the Chamber is cognizant of the importance of innovation, now more than ever, for an economy to grow and sustain in this dynamic global scenario.

“That is why we decided to launch the Index and have been very open and transparent about the parameters we have used to set a benchmark for measuring innovation. We hope the results of the survey will act as a catalyst for simulating innovation in the private sector in Dubai and promote their participation in the process of innovation.” “PwC is proud to be part of the development of the Dubai Innovation Index with Dubai Chamber. This is a unique and comprehensive index that evaluates and compares macroeconomic data to private sector views of a city,” Dr. Anil Khurana, Partner, Strategy & Innovation, PwC, pointed out.

The aim of the Index is to identify what is Dubai’s position in the global innovation scenario, what are the challenges and opportunities faced by the private sector when it comes to innovation and what can businesses and government do to promote innovation. According to the Report, the “enabler” score was higher than the “performance” score, which means that the innovation ecosystem is in place, with a high score for government support and fostering a culture for innovation.

In this firs-of-its-kind Index, Dubai has scored well on several enablers, namely “Government support” and “building the culture of innovation”, and scored average on “funding” and “political, economic and social environment” elements. However, lower scores for “infrastructure for innovation” and “skills & talent” suggest these areas require improvement.

The Index, which measures innovation within the 61 indicators, shows Dubai’s superiority in the field of output and performance, particularly in the launch of new products and services and outputs of technology. However, intellectual property and opportunities for collaboration with institutions and economies for scientific work need some more attention.

Survey results of Dubai’s private sector indicate that “implementation of ideas” and “retention of talent” are key challenges to build innovation capabilities and lead to a low score for “intellectual capital”

WAM

Add this page to your favorite Social Bookmarking websites
Comments
 
Post a comment
 
Name:
Country:
City:
Email:
Comment:
 
    
    
Related Stories
Dubai, Italy to develop ties in water and electricity sector
DUBAI: A high-level Italian delegation led by Italian Vice-Minister of Foreign Affairs and International Cooperation, Manlio Di Stefano, has explored ways to build closer..
BBME to be crucial for key industry players
DUBAI: Breakbulk Middle East (BBME) 2019, a yearly conference of top industry leaders and experts from around the world, will be reiterating its goal of enhancing economi..
Dubai Exports promotes UAE products in African countries
DUBAI: Dubai Exports, the export promotion agency of the Department of Economic Development (DED) in Dubai, recently participated in a series of events in Egypt, Ivory Co..
Dubai Tourism launches ‘Only in Dubai’ for unforgettable experience of tourists
Dubai: The Department of Tourism & Commerce Marketing of Dubai (Dubai Tourism) is rolling out a set of initiatives to deliver end-to-end “Only in Dubai” experiences to en..
DDF set to enter another successful year
DUBAI: As the closing days of 2018 beckon, Dubai Duty Free can reflect on another busy and successful year that has seen a number of significant developments for the oper..
FRONTPAGE
 
GALLERY
 
PANORAMA
 
TIME OUT
 
SPORT
 
 
Advertise | Copyright