Social innovation in Abu Dhabi as foundation for sustainable development

In the economic and industrial disruption and development the world has witnessed in recent years, more and more people have been thinking about how to translate the progress and prosperity we have achieved into greater human happiness.

Polymaths like Aristotle pointed out millennia ago that to make the most of material gain, we should use it to promote social justice, harmony, and happiness.

This explains why the UAE has placed the mental health of its people at the heart of its development strategy, developing a happiness index to more accurately measure individual satisfaction and a national happiness plan to promote the virtues of active lifestyles in the community .

Through the World Happiness Report 2020, the UAE has a global reputation in this regard, with the country maintaining its leading position in the Arab world for the sixth year in a row and leading the way globally, surpassing many developed countries and economy.

To cite another example, Finland is prospering for similar reasons to the UAE, as can be seen in the report, which ranked first for the third year in a row.

Likewise, the Himalayan kingdom of Bhutan similarly emphasizes the happiness index, placing gross national happiness above gross domestic product and productivity. By adopting this philosophy, Bhutan has significantly improved its economic, environmental, social and governance rankings over the past four years.

However, translating Aristotelian ideas into reality is a daunting task, especially given the increasingly complex nature of societal challenges. These require out-of-the-box thinking and innovative solutions that can only be developed through engagement and collaboration between individuals, civil society, and private and public entities.

Fortunately, we have all the resources we need to use our partnership to ensure a dignified life for all. This goal requires us to strive for a systematic and innovative approach, a realization that led to the establishment of the Department of Community Development (DCD) in Abu Dhabi in 2018, with a dedicated Social Innovation Unit.

That’s not all. In 2019, Ma’an was established to develop policies and principles for future social development at all levels by expanding dialogue between social innovation and sustainable development communities. As a leader and nexus of social enterprise at the public, private and “third” sector levels, Ma’an is driving start-ups, social innovation hubs, accelerators, community organizations and advocacy campaigns that provide solutions to pressing challenges through five interconnected pillars Programs: Ma’an Social Incubator (MSI), Social Contract, Community Engagement, Social Investment Fund and Outreach Management.

Since then, the organization has been developing innovative tools to promote shared values, responsibilities and commitments at all levels of society, with the aim of creating collaborative communities. One of these is Social Impact Bonds (SIBs), an innovative investment model involving partnerships between governments, social service providers and social investors to close identified gaps in society.

This type of bond is relatively new to the Gulf and was first launched in Abu Dhabi in 2020 with the launch of “Atmah,” a company that aims to provide educational, vocational training to a group of students with cognitive impairments and employment support businesses. Atmah is unique in that it is the world’s first SIB focused on helping determined people find work. Based on an active private- and third-sector approach, this model not only reduces the government’s financial risk, but because it is a collaborative effort, it also improves the prospects for success of broader social programs.

Atmah’s success underscores the enormous potential of the social contract, which has turned Abu Dhabi into a testbed for other innovations and collaborative initiatives, such as Makerspaces and Wellbeing. The former is a collaborative initiative designed to bring together innovators, educators, youth and seniors to ensure the holistic well-being of youth and seniors, while the Makerspace and Wellbeing Actions are designed to advance an understanding of agency and well-being NGO.

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Additionally, Ma’an’s “Ghaya” financial literacy program enables community members to benefit from a 12-week customized program that enhances financial literacy and management, explains investment choices and decision-making, and encourages financial independence and confidence. With financial partnerships with key financial entities such as Abu Dhabi Global Market, London Institute of Banking and Finance (LIBF), Abu Dhabi Social Support Authority, and the Federation of Emirates Banks, Ghaya offers a personalised experience to suit the needs of its clients Abu Dhabi resident.

Social incubators also demonstrate positive social impact, creating a supportive, creative environment for local entrepreneurs to develop and sustain start-ups that reflect the needs and aspirations of their communities. MSI’s seventh cohort of students recently graduated, with the help of stakeholders, industry leaders and investors, have developed a series of innovative applications to address the themes of “entrepreneurship for social good” – specifically green cities, circularity Economical and sustainable transport.

These broad and creative collaborations have been successful in large part because they have succeeded in creating ways for investors to give back to society and for companies to fulfill their social responsibilities.

To ensure that we continue to prosper as a nation, we need to create a more inclusive society through innovative initiatives. The success of our efforts to date has given us hope that we can use cooperation to build a model nation where all people share the fruits of prosperity equally. This is critical because the pursuit of sustainability is closely related to the pursuit of happiness.

Posted: August 23, 2022 9:00 am