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12/26/2017 Ministry of Economy heads 6th meeting of Global Innovation Index Executive team | IdubaiNews.com
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Abdullah Al Fan: ‘The team is shifting from data monitoring to formulating policies for the sustainability of
the UAE’s global competitiveness in the field of innovation’
Abu Dhabi
The Executive Team of the Global Innovation Index operating under the UAE National Agenda has held its
sixth meeting at the Ministry of Economy’s Dubai HQ. The session was led by H.E. Abdullah Sultan Al Fan Al
Shams, head of the team, in the presence of elite representatives from federal and local entities that are
members of the team.
The group discussed the latest updates to the Global Innovation Index and available development NEWS IN PICTURES
opportunities. They also reviewed the work methodology for the next phase which will focus on formulating
policies supporting an environment of innovation and the sustainability of the country’s competitiveness in FEEDBURNER WIDGET
this regard to help advance the national target of becoming among the top 10 countries in the world by
2021. Subscribe to our email newsletter.
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The meeting emphasized the need to speed up several processes, namely those related to the collection of Enter your e-mail address
expenditure data on education and scientific research in academic institutions and the private sector as well
as data on foreign direct investments (FDI) within the country. The growth of the UAE’s imports and Subscribe
exports due to advanced technology and the contribution of technology to the state’s total foreign trade
was also discussed to complete related initiatives and plans.
H.E. Alshamsi said that the Executive Team is currently more focused on the policy aspect than the SOUNDCLOUD
monitoring and data collection process. This is to keep abreast of international developments and to
enhance the competitiveness of the country regionally and globally in such a way that ensures the Comedy Bang Bang
Comedy Bang Bang
achievement of advanced levels on the Global Innovation Index to serve the directions of the country. Best of 2017 Pt. …
Best of 2017 Pt. …
He added that there are many initiatives and steps that have been developed recently to establish an
incubating environment for innovation and creativity. He noted that these efforts mostly focus on small-
and medium-sized enterprises (SMEs) and newly established innovative companies. Among the most
notable are the Ministry of Economy’s efforts to collaborate with concerned entities that have members on
the Global Innovation Index Executive Team to advance the ‘Young Innovative Companies’ initiative.
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The initiative provides support for fast-tracking the establishment of new innovative businesses and
enabling them to commence work as soon as possible. It also encourages creative university students to
transform their ideas into marketable commercial projects by providing them with financing facilities and
helping them with procedures for registering patents, licenses, trademarks and other aspects involved in
establishing and doing business.
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