MoF organises panel discussion on the Mohammed bin Rashid Innovation Fund at GITEX

MoF organises panel discussion on the Mohammed bin Rashid Innovation Fund at GITEX

 Dubai, 09 October 2019: As part of its presence at GITEX Technology Week, the Ministry of Finance (MoF) recently organised a panel discussion on Mohammed bin Rashid Innovation Fund (MBIRF) and the government-backed guarantees and accelerators which discussed how innovative companies can qualify for accelerated innovation funding through MBIRF, and reviewed the achievements of the most important projects that benefited from the Fund.

The panel discussion, which included representatives from the government and private sector, innovators and GITEX visitors, was aimed at directly surveying the public’s feedback in order to enhance MoF’s services and further improve customer satisfaction.

H.E. Saeed Rashid Al Yateem, Assistant Under Secretary of Resource and Budget Sector said: “The ministry participates in GITEX every year because it is an important platform, which allows us to assess the ministry’s various initiatives and innovations. It also enables us to present our services and digital solutions to the public, in order to get their feedback to offer services that meet their requirements. Overall, the ministry is focusing on technological solutions that support the government’s goal to transition to a knowledge- and innovation-based economy.”

Fatima Yousef Al Naqbi, CEO of Innovation at MoF, moderated the panel discussion, which was attended by Alex Collins and Fadi Omeira from the Mohammed bin Rashid Innovation Fund, innovators, and GITEX visitors. The panel discussed the Mohammed bin Rashid Innovation Fund and the important role it plays in supporting individuals and companies across the country. The panel also outlined the most important steps innovators and entrepreneurs must follow to secure the necessary services for their projects. Also discussed was the government-backed guarantees and accelerators, which provides several services to innovators around the world and is an important example of partnership between the public and private sectors, as well as global innovators.

The panel discussion also featured success stories of key projects such as Car Switch in the automotive business and Kinteract in the education sector. Both these companies received financial support from the Mohammed bin Rashid Innovation Fund.

The Ministry of Finance launched smart initiatives such as the Government e-Service Fees platform and Strategic Partnerships Map at GITEX Technology Week 2019, recently, underscoring its commitment to further improving its services adopting best practices in digital transformation. This in line with the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, to transition from an e-government to smart government.

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