UAE | Education

Foundation plans centre for innovation

The Mohammad Bin Rashid Al Maktoum Foundation on Friday announced plans to establish a new centre for entrepreneurship and innovation at the Olayan School of Business, American University of Beirut (AUB), Lebanon, as part of its continuous efforts to instill the spirit of entrepreneurship in the Arab world.

  • WAM
  • Published: 23:29 July 11, 2008
  • Gulf News

Dubai: The Mohammad Bin Rashid Al Maktoum Foundation on Friday announced plans to establish a new centre for entrepreneurship and innovation at the Olayan School of Business, American University of Beirut (AUB), Lebanon, as part of its continuous efforts to instill the spirit of entrepreneurship in the Arab world.

The Mohammad Bin Rashid Al Maktoum Centre for Entrepreneurship and Innovation, aiming to serve as a regional nucleus for entrepreneurship research and knowledge dissemination in the Arab world, will be established in collaboration with AUB with an endowment of Dh18.3 million (nearly $5 million).

A Memorandum of Understanding (MoU) was signed yesterday in Beirut by Sultan Lootah, Vice-President, Mohammad Bin Rashid Al Maktoum Foundation - employment and entrepreneurship, and George K. Najjar, dean of the Suliman S. Olayan School of Business at the American University of Beirut. The signing ceremony was attended by a significant gathering of high ranking officials from both sides, as well as by AUB faculty members, noted businessmen and members of the media.

Mohammad Al Gergawi, Chairman of Mohammad Bin Rashid Al Maktoum Foundation, said, "Established under the directives of His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of UAE and Ruler of Dubai, the centre will further his vision of facilitating synergetic knowledge creation and dissemination in all fields across the Arab world."

"The new centre complements the Foundation's strategy to promote Arab capabilities and provide enhanced opportunities for the Arab youth," he said.

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