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Monday, March 4, 2024

Future100 establishes 25 fresh collaborations

The collaborative initiative known as “Future100,” jointly spearheaded by the Ministry of Economy and the Government Development and the Future Office, has recently established 25 strategic partnerships. These partnerships have a primary objective of providing support to the top 100 emerging companies that are instrumental in enhancing the competitiveness of the UAE’s prospective economic sectors.

The signing of these pivotal partnership agreements was attended by notable figures, including Abdullah bin Touq Al Marri, the Minister of Economy; Ohood bint Khalfan Al Roumi, the Minister of State for Government Development and the Future; and Hessa bint Essa Buhumaid, Director-General of the Community Development Authority and Board Member of the National CSR Fund (Majra). Also present were Abdullah Al Saleh, Undersecretary of the Ministry of Economy, and Rashed Abdulkarim Al Blooshi, Undersecretary of the Abu Dhabi Department of Economic Development.

The inaugural list of Future100 companies is set to be unveiled on World Futures Day, coinciding with the UAE’s National Day on December 2nd.

These newly forged partnerships are poised to fulfill the initiative’s overarching goals, which include bolstering readiness for the future, cementing the UAE’s position as a hub for new economy enterprises, fostering an environment conducive to the growth and prosperity of these businesses, and expanding opportunities for their local and global development.

These partnerships bring forth a multitude of incentives and resources, encompassing the possibility of investment in companies that make it onto the Future100 list, support for accelerating innovation and digital transformation, technical and legal assistance, competitive financing solutions, and workshops on intellectual property rights and trademark protection.

Moreover, the Microsoft for Startup Founders Hub will provide cutting-edge artificial intelligence services and expert guidance to nurture innovation and sustainable growth among startups.

Abdullah bin Touq Al Marri emphasized the significance of the “Future100” initiative in aligning with the UAE’s vision for a resilient, innovative, and sustainable new economic model. He highlighted how the initiative supports the country’s efforts to expand new economic sectors and attract investments.

Furthermore, he pointed out that the initiative aims to create a more dynamic and competitive economy at both regional and global levels, contributing to the national economic goal of doubling the UAE’s GDP to reach AED 3 trillion by 2031.

Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, noted the importance of supporting future entrepreneurial stars through partnerships like the one with “Future100,” which is geared toward fostering innovation and entrepreneurship in the UAE.

Ohood bint Khalfan Al Roumi stressed that the “Future100” initiative aligns with the “We the UAE 2031” vision, focusing on building a dynamic and competitive economy. She highlighted how the initiative not only enhances the UAE’s preparedness for the future but also fosters a proactive approach to staying in tune with future trends and global transformations.

The initiative’s strategic partnerships encompass a diverse array of organizations, including the National CSR Fund (Majra) and accelerators such as the Abu Dhabi Department of Economic Development, Emirates NBD, Dubai Future District Fund, Mohammed bin Rashid Innovation Fund, Microsoft, Careem, and FTI Consulting, among others.

Nuha Al Harmoudi, Director of the National CSR Fund, emphasized the commitment to sustainability, social responsibility, and sustainable development, with a particular emphasis on the engagement of small and medium-sized enterprises in shaping a sustainable future.

Abdulla Qassem, Group Chief Operating Officer of Emirates NBD, expressed their support as an Acceleration Partner for the “Future100” initiative, aligning with their goal of fostering the growth of promising SMEs within the UAE.

Sharif El-Badawi, CEO of Dubai Future District Fund, underscored their enthusiasm for collaborating with the “Future100” initiative, aiming to nurture pioneering startups that will define the UAE’s future economy.

In summary, the “Future100” initiative plays a vital role in supporting emerging economic sectors, including startups, and recognizes the importance of the private sector in the UAE’s development journey. It annually highlights the top 100 emerging companies that significantly contribute to the competitiveness of the country’s future economic landscape.

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