Page 268 - MOE ENGLISH PR REPORT - AUGUST 2024

8/29/24, 4:41 PM Latest News

‘Masdar City’: A Hub of Innovation and Technology

During her visit to the free zone in Masdar City, Her Excellency met with Ahmed Baqhoum, CEO of Masdar

City. The Masdar team provided an overview of the city’s recent achievements, emphasising advancements
in emerging technologies. They outlined Masdar’s focus on six key sectors: space, energy, life sciences,

agricultural technologies, AI, and mobility.

Her Excellency gained insights into both current and future plans designed to support start-ups and SMEs.
She learned about the diverse range of options and co-working spaces available for establishing businesses
and various activities. The visit underscored how entrepreneurs can take advantage of the opportunities and

resources available in the area, which is considered an ideal hub for innovation, technology, and emerging
businesses. The zone is home to both local and international companies, along with leading global

organisations across a variety of vital sectors.

The discussion also highlighted the challenges faced by entrepreneurs, including the struggle to secure

funding and obtaining specialised equipment needed to develop innovative technologies. Both parties
emphasised the necessity of enhancing collaboration to create a joint programme that supports the adoption

of emerging technologies and develops tools to help establish forward-looking companies.

‘Khalifa Innovation Center’: An incubator for Deep Technology

During her visit to the Khalifa Innovation Centre, part of Khalifa University of Science and Technology, Her
Excellency met with HE Prof. Ebrahim Al Hajri, President of the University. The Centre's team highlighted
their key initiatives to support entrepreneurs and outlined their strategic objectives. Notably, the Khalifa

Innovation Centre is the country's first incubator dedicated to ‘Deep Tech,’ offering startups a comprehensive
network to facilitate market access. The Centre also arranges promotional tours to other universities and

hosts networking sessions where entrepreneurs can share ideas about the business landscape.
Furthermore, the Centre runs competitions for pitching startup projects, providing entrepreneurs with

opportunities to secure funding for their businesses.

In their meeting, both parties emphasised the significance of boosting innovation outputs at Khalifa University
and aiding the UAE’s advancement in the Global Innovation Index. They noted that this could be
accomplished by concentrating on the tangible results and outputs of the innovation ecosystem. Furthermore,

they discussed various challenges hindering innovation, such as the difficulties in communication between
academia and the private sector, along with the insufficient funding for startups in the early phases of their

projects.

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