Page 221 - Ministry of Economy

Page 221 - Ministry of Economy - December 2017

P. 221

12/26/2017 Ministry Of Economy And Abu Dhabi Department Of Economic Development Announcing The Launch Of Tip Platform In Partnership With Publ…
with the Ministry of Economy and other partners. Concluding his statement, His Excellency Khalifa bin Salem Al
Mansouri noted that “We are currently in the progress of finalizing an awards system around this focusing on
innovation and technology, to act as an accelerator to certain key initiatives, and will further motive and
encourage innovation pioneers and inventors to create and innovate on key matters that will support economic
development in the UAE, enhance productivity and reduce costs through innovation, and increase the UAE’s
contribution to the Global Innovation Index.” The agreement between the Ministry of Economy and the
Department of Economic Development – Abu Dhabi, will see both parties work closely together to achieve
outlined objectives and build a dedicated platform for technology innovation pioneers, which will include
specialized sub-platforms , such as a platform to fund emerging projects, another to highlight challenges and
constraints facing economic sectors and government organisations in the field of innovation and technology; in
addition to a platform to attract inventors and emerging companies both locally and internationally, as well as the
TIP awards program and award ceremony, and other related aspects that will expand in time where jointly agreed
on. With the objective of creating an innovators ecosystem, The TIP platform will provide services to support a
technology and innovation-centric environment and community, clustering and linking innovators, manufactories,
universities and other related organisations to enable this ecosystem. The agreement specifies that the
Department of Economic Development – Abu Dhabi will be in charge of regulating and managing TIP and its
services including the award, as well as managing the financial, regulatory, creative, and media affairs, in addition
toassessing all challenges and solutions related to the success of the TIP. TIP is the first comprehensive platform
in the region which enables interaction between targeted sectors, innovators, universities, innovator centers,
firms of small and medium sizes, and funding bodies in the field of technology, within an obvious business
system. TIP also aims to support and accelerate key aspects of both the Emirate's Vision 2021, and the Emirate
of Abu Dhabi's Economic Vision 2030, and the National Strategy for Innovation, as well as activating the
collaboration between all targeted within the innovation and economic system of the state such as economic and
industrial sectors, government institutions and semi-government, investors, universities, small and medium
enterprises, start-up companies and funders, in order to enable the platform to become one of the pillars of the
achievements of the UAE tercentenary 2071. TIP works to connect with similar international initiatives and
platforms to attract small and startup firms to use modern technology in the UAE. The first focus to be run by TIP
will be in the field of health care is being launched soon, in partnership with the Department of Health Abu Dhabi.
Other focused initiatives under TIP will follow in the near future, in collaboration with other key partners who play
a vital role in supporting the economic agenda and national strategy of innovation. The TIP's Award will soon be
launched to honor outstanding innovators of technology and innovation.

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