Dubai Announces AED 1 Billion Fund to Address Seven Global Challenges

Dubai: One billion Dirhams ($275 million USD) is set to be invested over 5 years in projects and companies taking part in Dubai Future Accelerators - an ambitious new program launched by the Dubai Government and Dubai Holding designed to advance innovation in strategically important sectors across the UAE.

  
02 August 2016
The Dubai Future Accelerators invites companies from around the world to apply The Dubai Future Accelerators Program is a new effort to encourage innovative solutions to common global challenges The Dubai Future Foundation and Dubai Holding come together to boost strategic investments in next generation solutions and technologies HE Mohammed Al Gergawi, Minister of Cabinet Affairs and the Future, Vice Chairman of Dubai Future Foundation: "We look forward to a new phase in the development of our national economy, one based on creating opportunities for global innovation and future technologies." Dubai: One billion Dirhams ($275 million USD) is set to be invested over 5 years in projects and companies taking part in Dubai Future Accelerators - an ambitious new program launched by the Dubai Government and Dubai Holding designed to advance innovation in strategically important sectors across the UAE.

The Dubai Future Accelerators initiative looks to help realize the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai.

The program encourages participants to propose innovative solutions for seven "Future Challenges" common to governments around the world, including healthcare, transportation, renewable energy, sustainability, education, security, and urban planning.

It seeks solutions which take advantage of the most recent innovations in science and technology, including robotics, artificial intelligence, 3D printing, biomimicry, and biotechnology.

A new investment approach 

His Excellency Mohammed Al Gergawi, Minister of Cabinet Affairs and the Future and Vice Chairman of Dubai Future Foundation, emphasizes that the initiative, which is led by HH Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Future Foundation, "will be an important and strategic contribution to the regional investment market, attracting the world's best start-ups and companies to compete for new opportunities that make a positive difference in the world."

The goal is to stimulate innovation and the application of emerging technologies in the areas most important to human life, adding that the UAE - and Dubai, in particular - have succeeded in creating new sectors in the past, and will continue to do so in the future.

"Under the directives of our leadership, we look forward to a new phase in the development of our national economy. Dubai Future Accelerators aims to continue the nascent investment culture in the region, providing investors the opportunity to diversify their portfolios in innovation-led fields in a way that contributes to the greater public good," he added.

Seven vital challenges for the 21st Century

Dubai Future Accelerators is a compass directing the next wave of investments in Dubai's economy. It invites the best international companies to pitch for investments connected to seven strategic challenges.

These challenges serve to consolidate global efforts to address the most vital challenges of the 21st century. These include breakthroughs in urbanism, housing construction, renewable energy, healthcare, education, transportation, public safety, and other areas.

"By means of our global competition, we aim to align the efforts of key global stakeholders and the Government of Dubai to create a global market worth billions of dollars. Our long-term vision is to help solve the most important challenges that face us all in the future," said Saif Al Aleeli, CEO of Dubai Future Foundation.

Open for companies now 

The competition is now live, and companies and start-ups are invited to apply at the following website: www.dubaifutureaccelerators.com 

For more information, download the press pack at www.dubaifutureaccelerators.com/press

MORE INFORMATION
Seven Future Challenges 

The seven future challenges behind the Dubai Future Accelerators serve as aspirational goals that stretch the boundaries of what is possible in the next 5 to 10 years. They represent both the scale of transformation required in the coming decade and the ambition of Dubai's government to help facilitate them.

• Reduce water and energy consumption by a factor of 10 and increase production and distribution efficiency through the use of renewables, intelligent & automated systems, biological solutions and other means, led by the Dubai Electricity and Water Authority.

• Prototype automated transportation systems that cut congestion by 20% and reduce CO2 emissions by 30% across all modes, led by the Dubai Roads and Transport Authority.

• Test automated, recycled, and nature-inspired building systems that use 3x less energy and CO2 and are 5x more effective (including robotics, automation, bacteriological, mycology, algae, biomimicry, regenerative systems, sand-based 3D printing materials, and others), led by the Dubai Municipality.

• Harness Dubai's remarkable genetic diversity to enhance diagnostic speed and effectiveness by a factor of 10 (using genomics, analytics, telepresence and personalized medicine), led by Dubai Health Authority.

• Prototype 21st century assessment systems and personalized learning solutions that work across curriculums to offer 5x greater flexibility, 2x lower cost, and 10x better learning outcomes (with an emphasis on Arabic language education, STEAM, wellbeing, coding, and other disciplines), led by the Dubai Knowledge and Human Development Authority.

• Deploy digital solutions across the hospitality, food and beverage, and real estate sectors that reduce paperwork and the need for human intervention by a factor of 10, increase transaction speeds by a factor of 20 and increase customer engagement by an order of magnitude (including Blockchain, digital personalization, robotics, augmented and virtual reality, etc.), led by Dubai Holding.

• Test integrated behavioral, genetic and biological systems for identifying, tracking and sharing information on criminals that are 10x more accurate and 10x more efficient, led by the Dubai Police.

About the Dubai Future Foundation
The Dubai Future Foundation (DFF) is an initiative launched by the UAE Prime Minister and Ruler of Dubai in early 2016 and led by the Crown Prince, Sheikh Hamdan bin Mohammed bin Rashid al Maktoum. The Foundation develops futuristic concepts for how emerging technology can be used to improve people's lives, and develops public-private partnerships to test and implement these ideas at scale. The DFF is housed in the 3D Printed "Office of the Future" in Dubai, the world's first 3D printed building, and is responsible for the Dubai Future Agenda and the Museum of the Future.

© Press Release 2016

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