The Mohammed Bin Rashid Innovation Fund has announced the launch of a new phase with the official opening of its headquarters located in Dubai’s World Trade Centre, a facility specifically designed to boost governmental innovation, collaboration, and the exchange of ideas among innovators, entrepreneurs, and partners.
This announcement was made during an event themed “Innovation for a Better Life,” attended by His Excellency Mohammed Al Husseini, Minister of State for Financial Affairs, along with numerous government leaders, fund management committee members, and various partners.
Since its inception, the Mohammed Bin Rashid Innovation Fund has received applications from 89 countries from innovators who found promising opportunities in the UAE. The fund has supported over 170 innovative startups by providing funding and mentorship to accelerate their growth and expand their operations, offering more than 43 million dirhams in government-backed guarantees to help them realize their aspirations. Thanks to the fund’s support, its members have secured financing exceeding 2.8 billion dirhams, successfully attracting investor confidence and contributing to the creation of over 800 jobs in the UAE, thereby supporting human capital development and investment.
Mohammed Al Husseini stated, “The opening of the new headquarters marks a significant milestone in fortifying the institutional framework that supports the innovation ecosystem in the UAE. It reflects our commitment to transforming strategic plans into tangible initiatives that contribute to accelerating sustainable economic development.”
The new facility is designed to serve as a comprehensive platform that brings together innovators, investors, and experts in a stimulating environment aimed at developing leading solutions to meet future needs.
We believe that innovation has evolved from being a developmental choice to becoming a strategic necessity for enhancing the competitiveness of the national economy and providing new sectors based on knowledge and technology.
Through this fund, we are dedicated to empowering entrepreneurs and innovators, equipping them with the tools and resources required to transform their ideas into scalable business models, thereby positioning the UAE as a global hub for innovation.
The new headquarters is situated in “One Central – Dubai World Trade Centre” and offers flexible collaborative workspaces for participants in the fund’s primary programs (the Innovation Accelerator Program and the Guarantees Program), enabling them to connect with experts and investors.
Additionally, the fund’s headquarters features a dedicated space for hosting events and workshops, equipped with advanced interactive installations, including digital displays and holographic technology to engage visitors, providing a comprehensive view of the fund’s mission and its impact on stimulating innovation and promoting growth across various economic sectors in the UAE.
The event also featured a speech by Younis Haji Al Khouri, Undersecretary of the Ministry of Finance, who emphasized the UAE’s commitment to strengthening its position as a leading global center for innovation, noting that the leadership has set clear objectives to create a supportive environment for fostering and enabling innovation through appropriate regulatory frameworks, comprehensive support services, enhanced technological infrastructure, and guaranteed access to investments and incentives.
The launch of this headquarters marks a renewed effort to enhance this ecosystem by providing a dynamic space for innovators to collaborate, share knowledge, accelerate growth, and contribute to building a knowledge-based economy in the UAE.
Ahmad Al-Nuqbi, CEO of Emirates Development Bank, remarked, “The opening of the new headquarters is a significant step forward in the fund’s journey, reinforcing its role in supporting innovation and innovators in the country. Our mission is to empower promising entrepreneurs by providing them with support and expertise to turn their ideas into impactful solutions.”
During the event, an interactive artwork was unveiled by UAE artist Abdullah Lutfi, entitled “Innovation for a Better Life,” specially designed for this occasion, offering a creative experience utilizing augmented reality, currently on display at the fund’s headquarters for its visitors.