DUBAI, 18th September, 2016 (WAM) -- Thirty companies were accepted to participate in a 12-week programme where they will work with the seven government authorities participating in Dubai Future Accelerators, an initiative of the Dubai Future Foundation and part of the Waqf’s US$275-million Future Fund, the Dubai Future Accelerators announced on Sunday.
The selected companies will work on developing and testing products and solutions for the challenges that face key economic and strategic sectors in the cities of the 21st century in the UAE, and that can also be applied to countries in the region and around the world, it said in a press release. The list of finalists chosen to take part in the first round of the programme includes a selection of the most innovative companies in the world that are currently developing and testing creative ideas and advanced technologies with a future outlook, which offer solutions to the challenges facing key sectors including health, education, energy and water, transport, infrastructure, security and safety, and technology. Furthermore, the finalists will develop solutions in such sustainable sectors as Hyperloop transport, 3D printing, and digital financial transactions. The most prominent names on the list are Hyperloop One, which is developing a transportation system set to outpace the speed of light; Next Future Transportation, specialising in mass-transit solutions and self-driving vehicles; Concensys, the world’s largest software provider for app developers and Blockchain companies; Construction Robotics, specialising in construction solutions that increase productivity five-fold; and Honeywell, the Fortune 100 company working on developing advanced digital systems for the healthcare sector. Mohammed bin Abdullah Al Gergawi, Minister of Cabinet Affairs and The Future and Vice Chairman and Managing Director of Dubai Future Foundation, reiterated that Dubai's success in pioneering a new generation of business accelerator programmes and the key role that the emirate is playing in shaping the future can be attributed to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, and the close involvement of H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Board of Trustees at Dubai Future Foundation. Through this initiative, the UAE is seeking to redefine the international role of business accelerators, he said. "These accelerators will now adhere to the government’s agenda and strategies, and serve as a catalyst to research and development within the most strategic sectors, such as education, health, infrastructure, transportation, and energy. They will provide a global platform to develop new and innovative solutions to the most pressing challenges facing society." Al Gergawi stressed that the initiative seeks to achieve the targets of Dubai Future Agenda by ensuring sustainability and innovation within the strategic sectors of the UAE. Moreover, it will explore new sectors based on the technologies of the fourth industrial revolution, which will create a market worth billions of dollars and revolutionise the business models that we know today. The Dubai Future Accelerators programme comprises three rounds every year. Each round lasts three months, during which the programme works to attract the world’s best emerging companies to find solutions for challenges – as well as ways to capitalise on economic opportunities – it identifies within strategic economic sectors by creating new technologies.
© Copyright Emirates News Agency (WAM) 2016.