UAE initiative to support emerging businesses

ABU DHABI (WAM): The Ministry of Economy has signed MoUs to launch the “National Programme for Supporting Emerging, Modern & Innovative Businesses” with 14 state-run entities as part of its participation in the 3rd Government Accelerators.

The 14 departments are: Ministry of Finance; the Telecommunication Regulatory Authority; the Securities and Commodities Authority; Takamul Programmme, run by the Department of Economic Development- Abu Dhabi; Emirates Development Bank; Mohammed bin Rashid Innovation Fund; Khalifa Fund for Enterprise Development; Mohammed bin Rashid Establishment for SME Development; Sharjah Entrepreneurship Center; Saud bin Saqr Foundation for Youth Project Development; Chamber of Commerce and Industry of Umm Al Quwain; Khalifa University of Science, Technology & Research; UAE University and University of Dubai.

The Government Accelerators is an official approach premised to accelerate the achievement of the National Agenda of the UAE Vision 2021.

Sultan bin Saeed Al Mansouri, Minister of Economy, said the MoUs fit within the efforts made to fulfill the requirements of the National Innovation Strategy.

Innovation lies at the heart of the social and economic development adopted by the government of the UAE to promote economic growth, increase competitiveness as well as providing new job opportunities across all sectors, he added, noting that innovation is crucial to the future of the UAE

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