Ruwad signs MoU with ICT Development Fund

The signing ceremony was held at Abu Dhabi International Exhibition Center and attended by H.E Ahmed Mohammed Al Midfa, Al Ruwad's deputy chairman, and H.E Ahmed Hameed Al Mazroui, Chairman of the Board of Trustees for the ICT Development Fund.

The MoU aims to encourage R&D projects by establishing funds to finance education, training and R&D projects in the IT and telecommunication sectors.

The MoU will provide the necessary support and adequate training for SMEs in this sector and will develop existing projects as well.

Commenting on this MoU, H.E Ahmed Mohammed Al Midfa said, "Our signing of this significant MoU with ICT Development Fund is consistent with our strategy to coordinate with the dedicated parties, seeking to utilize the experience and knowledge of both parties in a way that provides the necessary support for the innovative ideas initiated by young nationals and develops these ideas into viable projects".

"This agreement is aimed at providing nurturing business incubators for the new ideas originated by young nationals and at offering various types of support for their projects. It is an important example of partnership between local corporations and federal ones. We are keen to create an ideal environment and infrastructure for advanced technology projects, as the UAE has a wealth of qualified graduates with abilities and talents that should be utilized properly. This goal can be achieved by offering young businessmen the necessary mechanisms and plans to develop their ideas and initiatives", he added.

Al Midfa reiterated the importance of the ICT Development Fund, as it aims to drive the strategic development of the UAE's ICT Sector, in order to strengthen the innovation and knowledge capital level of the market by providing research, education and entrepreneurial opportunities, as well as finance, management expertise and infrastructural support.

H.E Ahmed Hameed Al Mazroui, Chairman of the Board of Trustees of the ICT Development Fund, said, "This agreement will enable us to access and evaluate the existing opportunities in IT and Telecommunication sector in the UAE, thus cooperating with Ruwad to provide the necessary finance and support for these projects. We will work together to supervise and develop R & D projects for university students, organize seminars and workshops to spread awareness of the untapped investment opportunities in the telecommunication sector. We will provide comprehensive business advice, technical advice and commercialization support services to ensure that innovative projects and individuals have the help they need to succeed.

"We strive to provide the ideal climate for the R&D projects in IT and Telecommunication sectors. This support will mainly target the SME community which forms a vital part of the national economy. We are willing and ready to offer all manner of support and assistance to these projects and comprehensive resources to meet the unique needs of each project", he added.