14 June 2016
Sharjah Tatweer Forum reveals IoT to play significant role in promotion of entrepreneurial innovation of emirate

Internet-of-Things (IoT) spending for manufacture-related processes in the Middle East and African region (MEA) is poised to increase by 16 per cent Year-on-Year (YoY) starting 2016, running up to a total of over USD1.22 billion, according to a recent report from the International Data Corporation (IDC), a leading market, research, analysis and advisory firm. The study reveals that a major factor to this growth is the continuous demand for fast-moving consumer goods in the region, which has encouraged manufacturers to invest largely on efficiency-building smart technologies to increase productivity and enhance efficiencies. In line with this, the Sharjah Tatweer Forum (STF) has pointed out the significance of IoT, which plays an important role in the move to help advance and promote entrepreneurial innovation in the emirate.

The IDC report states that the increased IoT spending will cover key processes like food traceability, maintenance and field services, manufacturing operations, and production asset management, which is being seen as very ripe for investment. Meanwhile, another related report from KPMG entitled the '2016 Global Transformation Study' shows that business leaders understand the importance of investing in continual business transformation--revealing a large number of businesses are now in the midst of business transformation planning or execution or have already implemented a transformation program in the past two years.

"The emergence of IoT has ushered us further into the future--where computing devices, mechanical and digital machines can now be interrelated no matter how remotely distant they are from one another," said Jassem Albloushi, Chairman, STF. "The Sharjah Tatweer Forum understands the significance of IoT and the important role it will play in the move to drive in more growth and development for Sharjah. We remain steadfast in our commitment to actively promote entrepreneurial leadership and innovation by utilizing IoT and leveraging its advantages and benefits to our members and their businesses."

The STF arranges several opportunities for its members to interact with pioneers in the technology sector and learn more about best practices that can help accelerate adoption of this advanced technology--further utilizing it as an effective tool towards the smart transformation. The young leaders continuously meet senior officials from leading IT companies like Twitter, Netflix, UC Berkeley, 500 Startups, Silicon Valley, Nordic Innovation, SAP Innovation Centre etc. The members also actively participate in key workshops like Stanford Research Institute 'SRI' and IoT Summit conference, which is focused on extensive discussions on how to further develop IoT products, in addition to other national and international conferences. They also take part in meetings and lectures about important timely topics like emerging trends, modern technological innovations, big data analysis, smart cities, cloud computing and information security.

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About Sharjah Tatweer Forum (STF):
Since its establishment in 2005, Sharjah Tatweer Forum has been a trendsetter and a catalyst focusing on global, regional and domestic issues of importance to the Emirate of Sharjah in an effort to raise awareness and to promote their application. STF was not created to tackle one particular topic. It has been a collaboration and a community of young people interested in furthering the sustainable development of their country, their Emirate and empowering themselves. As a membership organization with over 800 active members, STF encourages its members to contribute suggestions, ideas, and projects for Sharjah, entrepreneurial enterprises, initiatives, activities and voluntary social outreach programs. In exchange, members are provided with the opportunity to join world-class certified programs, business accelerator services, a platform to network and to meet senior officials as well as a stage for pitching ideas and business ventures. STF's focus includes promoting innovation and knowledge economy, facilitating the implementation of viable projects that support sustainable development, fostering partnerships between civil society and the public and private sectors and initiating public awareness and outreach programs that advance volunteerism and corporate social responsibility. STF also aims to enhance cooperation with renowned international and domestic houses of expertise, research centers and academic institutions and develop upcoming generations of leaders and managers.

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© Press Release 2016