Complex Made Simple

UAE Ministry of Economy announces Arab Entrepreneurship & Innovation Award

Ministry has started accepting registrations for the event and entries for the award

The UAE Ministry of Economy has announced the Arab Entrepreneurship & Innovation Award that will be presented at the 17th Arab Investors and Businessmen Conference to be held from 16 to 17 November.

The Award aims to further the interests of business, finance, and entrepreneur communities and recognise excellence in business.

The award also aims to boost innovation and entrepreneurship of the Arab businesses by highlighting innovation models. Moreover, the award will catalyse partnerships between Arab entrepreneurs and businessmen.

HE Sultan bin Saeed Al Mansoori, UAE Minister of Economy and Chairman of the 17th Arab Businessmen and Investors Conference, said: “We are delighted to announce this award that is dedicated to developing small projects through categories like entrepreneurship and innovation in agriculture, industry, energy, finance, and banking.”

On the sidelines of the Conference, there will be an exhibition and workshops on investment projects of SME entrepreneurs. The exhibition will feature sponsoring institutions, which would provide an opportunity for Arab businessmen and investors to promote relevant investment projects. The exhibitors are responsible for the presentation and management of their projects.

The two-day Conference sessions will feature working sessions on entrepreneurial and innovative special projects for SMEs, economic and investment climate requirements, relevant policies and incentives, and financing mechanisms and the role of banks and financial institutions, the role of supporting institutions and related sectors such as smart cities and renewable energy sources.

“The main purpose is to provide Arab incubator environment for innovation in the UAE and regionally. We have actually started to inquiries for the exhibition and the award, and we expect huge demand from emerging and small entrepreneurs,” added Al Mansoori.

HE Abdullah Al Saleh Undersecretary, UAE Ministry of Economy, President of the 17th Arab Businessmen and Investors Conference Higher Committee says: “Winners will be given priority to present their projects to a wider range of Arab investors, which will enhance their chances of establishment collaborations and develop these projects to a wider audience.”

“The submitted project should be a start-up company not older than five years, have an international legal financial status, a knowledge-based economy project, and clear entrepreneurship and innovative idea behind the project,” added Al Saleh

The Secretary General of the General Union of Arab Chambers, HE Dr. Imad Shehab said: “The UAE announcement of Arab Entrepreneurship & Innovation Award during the 17th Arab Investors and Businessmen Conference, gives the conference an added value. It also can be looked at as support to the Arab youth, as the UAE under the guidance of His Highness Sheikh Khalifa bin Zayed Al Nahyan, is one of the earliest supporters of the young entrepreneurs.”

HE Shehab said, “In light of changes taking place, the Arab world is in need of support and motivation to its youth, with added importance to innovation as well as entrepreneurship, to embrace sectors like manufacturing, and research and development. This has helped in strengthening large companies in the UAE to compete in their target markets.”

“We want such culture to spread its wings across all Arab countries, as innovation has become an urgent need and a fundamental pillar for achieving sustainable business growth,” added Shehab.

HE Al Saleh went on to say: “A dedicated platform will be established within the Emirates Award for the Arabian Gulf Youth, for all submitted projects that make it to the final stage. The assessment process will be done in two stages, the first before the start of the conference, and the other is during the conference.”

The conference focuses on entrepreneurship and innovation in the Arab region, and how to support innovators, especially young people. In addition, it involves meetings between investors and businessmen and leaders in the banking sector. The conference will also brief businessmen of the Arab private sector on the giant development projects in the UAE, and how to build partnerships between the government and the private sector.

The Ministry will present signed certificates to the winners, bear the costs of their attendance and participation, give them priority to present their projects to the business community and to meet with investors, support them with media coverage, and honor them with the Conference Shield which will be presented by HE Sultan bin Saeed Al Mansoori, UAE Minister of Economy, during a gala dinner on the first day of the conference.

The Conference is organised since 1982 by the General Union of Chambers of Commerce, Industry and Agriculture for the Arab Countries (GUCCIAAC), the Arab League, and the Arab Investment and Credit Export Guarantee. It is held this year in cooperation with the United Arab of Emirates Ministry of Economy and Ministry of Foreign Affairs, and the Federation of Chambers of Commerce and Industry and Abu-Dhabi Chamber in the United Arab Emirates.

Investment studies, not exceeding ten pages, for suggested projects can be submitted, to [email protected] under the subject title ‘Arab Entrepreneurship & Innovation Award’.