PHOTO
Innovation Challenge will test 1,300 ideas to find the company's latest great moment
Dubai - With the UAE set to become the most innovative nation in the world by 2021, Majid Al Futtaim is empowering its own employees to get creative when it comes to improving customer experience and come up with the company's next big innovation. Having already created some of the region's most iconic concepts, Majid Al Futtaim is this week hosting a group of more than 80 employees, from its businesses across the region, to take part in an Innovation Challenge in Dubai.
A wave of creativity is already washing over Dubai and accelerating the Emirate towards the diversification of its economy. Innovation is at the heart of Dubai's exciting future, helping it to maintain its competitive advantage in the region and forming a vital part of its growth plan, as recognised by H.H Sheikh Mohammed Bin Rashid Al Maktoum, Vice President of the UAE and Ruler of Dubai. In the retail sector, a culture of innovation has been present for over twenty years and has helped Dubai to become the second most important retail destination in the world.
Majid Al Futtaim's history of innovation in customer experience has supported Dubai to become a retail powerhouse, providing an excellent example of the importance of innovation within the UAE's public and private sectors. The Innovation Challenge is the first of its kind in Dubai and enables Majid Al Futtaim to promote innovation internally and play an active role in the UAE's vision to cultivate innovation from the ground up.
Ahmed Galal Ismail, Chief Executive Officer at Majid Al Futtaim Ventures said: "The UAE's innovation strategy is set to support economic prosperity and private sector businesses have an opportunity to make a significant impact in the development of new innovations. At Majid Al Futtaim, innovation in customer experience lies at the heart of what we do and drives our business forward. We foster a workplace that incentivises, empowers, encourages and rewards innovation at all levels."
Organised in conjunction with VentureScout, a company which specialises in working with large companies to implement internal and external innovation, the Innovation Challenge requires employees to submit ideas, big and small, that can be developed into a new product or service which will improve customer experience across Majid Al Futtaim's business portfolio. The Challenge will begin with a three-day Hackathon, where employees will present their ideas to a panel of judges. With thirteen hundred written submissions received, the judging panel selected just over eighty entries to take part in the Hackathon. During the first day the top ideas will be selected and teams formed around those ideas.
The finalists are given 48 hours to refine their ideas before they present for three minutes to the judging panel at the end of the third day. A few days after the Hackathon, the best two ideas will then be selected and both teams will attend a five-week innovation lab in London starting in October, where they will further develop their ideas. In November, the teams will present their innovations, with one selected to become Majid Al Futtaim's next great moment and be awarded AED 250,000.
Galal Ismail continued: "The Innovation Challenge provides a unique opportunity for us to foster a culture of innovation amongst our people. We believe that our employees can bring new ideas to the table that will challenge our current thinking and help us deliver on our brand promise to deliver great moments for everyone, every day."
You can watch Majid Al Futtaim's Innovation Challenge video here.
The legal name of this company is "Majid Al Futtaim" and should not be shortened or replaced by an acronym to avoid confusion with another business entity.
Disclaimer: All facts and figures in this release are accurate at the time of issuance.
-Ends-
About Majid Al Futtaim
Founded in 1992, Majid Al Futtaim is the leading shopping mall, retail and leisure pioneer across the Middle East and North Africa (MENA).
A remarkable business success story, Majid Al Futtaim started from one man's vision to transform the face of shopping, entertainment and leisure to 'create great moments for everyone, every day'. It has since grown into one of the United Arab Emirates' most respected and successful businesses spanning 13 international markets, employing over 27,000 people, and achieving the highest credit rating (BBB) among privately-held corporates in the Middle East.
Majid Al Futtaim owns and operates 17 shopping malls, 11 hotels and three mixed-use communities in MENA, with further developments underway in the region. The shopping malls portfolio includes Mall of the Emirates, City Centre malls, and also four community malls which are in joint venture with the Government of Sharjah. The Company holds exclusive rights to the Carrefour franchise in 38 markets across Middle East, Africa and Central Asia, operating a portfolio of over 60 hypermarkets and over 70 supermarkets in 13 countries.
Majid Al Futtaim operates 143 VOX Cinema screens and 18 Magic Planet family entertainment centres across the region, in addition to iconic leisure and entertainment facilities such as Ski Dubai and iFly Dubai, among others. The Company launched the first LEGO-certified store in the Middle East and is parent to the consumer finance company issuing 'Najm' credit cards, a fashion retail business representing international brands such as Abercrombie & Fitch, Juicy Couture and Halston Heritage, and a healthcare business. In addition, Majid Al Futtaim launched Enova, a facility management company, through a joint venture operation with Veolia, a global leader in optimised environment resource management. The Company also operates in the food and beverage industry through a partnership with Gourmet Gulf.
www.majidalfuttaim.com
Please follow us on:
https://www.youtube.com/user/majidalfuttaim
https://twitter.com/majidalfuttaim
https://www.linkedin.com/company/majid-al-futtaim
About Venture Scout
VentureScout is a company specialized in helping large companies with internal and external innovation. Clients include MasterCard, Cisco, Kraft Foods, Daimler, Bosch, BP/Castrol, Siemens, Allianz and Lloyds Banking Group. VentureScout is run by serial entrepreneurs who know the start-up world inside out. In addition, several team members have worked for Fortune500 companies and are experts in bridging the gap between start-ups and corporates.
© Press Release 2015
