Search DubaiPRNetwork.com

Home >> Banking & Investments

Ministry of Climate Change and Environment and RAK Incubator and Accelerator Ink MoU to Drive Entrepreneurship and Innovation

Sunday, February 11, 2018/ Editor -  

Share

Home >> Banking & Investments

Dubai-UAE: 11 February 2018 -   The UAE Ministry of Climate Change and Environment (MOCCAE) signed an MoU with RAK Incubator and Accelerator with the aim of enabling SMEs, entrepreneurship and innovation and in the presence of His Highness Sheikh Saud bin Saqr Al Qasimi, Supreme Council Member and Ruler of Ras Al Khaimah, and His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment. 

On the sidelines of the UAE’s first Seaside Startup Summit, held at the Al Marjan Island in RAK with the aim of creating a new platform for the cooperation of the startups and investors, the MoU was signed by His Excellency Sultan Alwan, Assistant Undersecretary of the Regions Sector at MOCCAE, and Dr. Hisham Safadi, Co-Founder and CEO, Ras Al Khaimah Incubator and Accelerator.

Under the MoU, the two parties will join hands to bolster SMEs, entrepreneurship and innovation, by providing training, mentorship and access to investors and decision makers.

Speaking at the MoU signing ceremony, His Excellency Dr. Thani bin Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, said that innovation is key to responding effectively to the growing economic, social and environmental challenges, as their nature and increasing level of complexity make it almost impossible to rely on traditional solutions. “If we take climate change as an example, we will see that all the solutions proposed are highly dependent on modern technological innovations, namely renewable energy, electro mobility, waste-to-energy conversion, carbon capture and storage, among others,” he said.

Dr. Thani added that the lack of funding, however, is a major barrier for innovative ideas. Many of them don’t see the light as a result. “The way I see it, the real challenge is in bringing investors on the same platform with entrepreneurs. To that end, the Seaside Startup Summit is offering participating entrepreneurs the opportunity to engage in matchmaking sessions with investors and pitch for funding.

“I am confident that by the end of the summit, many innovative ideas showcased here will secure the funding they need to become a reality. We saw firsthand how effective such platforms can be, as the ministry hosted the Climate Innovations Exchange (CLIX) last month, within the Abu Dhabi Sustainability Week. CLIX served as a global marketplace that connected capital with innovative climate change concepts and solutions, and has attracted an intention to invest pledge worth US$17.5million within the first year. This figure is expected to grow to US$45.5million within a period of three years per the investors,” Dr. Thani noted.  

 


Previous in Banking & Investments

Next in Banking & Investments


Home >> Banking & Investments Section

Latest Press Release

Ibn Battuta Mall hosts Pink Caravan clinic to raise awareness about breast cance ...

Ras Al Khaimah Ruler to present inaugural Sheikh Saud bin Saqr Al Qasimi Interna ...

Splash launches Adaptive Collection for People of Determination

Key Trends of Spring/Summer 2019 and How to Wear Them

Lucky Number Five for UAE In FEI Longines Jumping Nations Cup™ Draw

Procter & Gamble Announces Newest Commitment to Gender Equality Across the India ...

The Beard Gear Company

Ignite Your Senses This Season with the Luxurious Maisey Candles Collection, Ava ...

Improving Location Settings on Android

World's youngest pilot, 7-year-old Nasser, will represent UAE at Dubai Masters

Chief Justice of DIFC Courts reviews DLD procedures

IATA Releases 2018 Airline Safety Performance

TuttoFood Dubai: An Evening Celebrating Italian Cuisine

Dubai Hospital raises awareness of Childhood Cancers

Ayushmann Khurrana receives the ‘Best Actor Critics' award from Arjun Dhanak at ...

Director of Dubai Customs orders further control measures at Cargo Village Custo ...

Barij Munitions signs a Memorandum of Understanding with Emirates Steel at IDEX2 ...

Free breast cancer screening at Marina Mall Abu Dhabi

India's Tea Valley forays into ME region

du Offers Galaxy of Benefits with Samsung Galaxy S10