UAE | General
Dubai can serve as 'successful innovation story'
Country's experience can be a model to overcome challenges of unemployment present in Arab world, says expert
- Staff Report
- Published: 00:11 June 4, 2008
Dubai: Dubai's experience can serve as a model to overcome challenges to entrepreneurship and unemployment in the Arab world, according to the head of an innovation advisory body.
Sam Hamdan, Chairman of Global Leadership Team, an innovation advisory body and the architect of the World Summit on Innovation and Entrepreneurship (WSIE) told Gulf News that the UAE, specifically Dubai, through innovative incubation environments can offer another model for Arab success by evolving its current entrepreneurial capacities to make it easier for aspiring entrepreneurs to advance the innovation cycle.
"Given its past success to put businesses at the centre of its global development, I forecast that Dubai's government will continue to streamline its policy and regulatory frameworks to advance the local 'innovation production' capacity. However, its sustained success will require the active participation and collaboration among the future generation of Emiratis, the local private sector, key multinationals, and educational institutions," said Hamdan.
According to Hamdan, the challenges across the Arab world are paramount-and vary among different countries, including slow business start-up cycle time, insufficient funding resources, closed access to key Arab markets, inadequate education, and low levels of collaboration among the private sector.
Demand
The World Bank states that 100 million job opportunities need to be created by 2015 across the Arab World creating a pressing demand for Arabs to innovate and collaborate across borders, explained Hamdan.
"Dubai has managed to transform itself into the 21st century's most successful innovation story," said Hamdan adding that initiatives taken by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, exemplify that a society's well-being is a direct outcome of the entrepreneurial foresight and innovative leadership.
Share this article
Popular in UAE
-
Your pictures
Readers' pictures
The best reader pictures from around the UAE this week
Latest news
- Thieves caught with Dh6 million in gold bars
- ADWEA tenders for new power, desalination plants
- Mohammad approves federal demographic body
- Criminal wanted in 360 cases arrested in Dubai
- UAE visitor admits to possessing fake notes
- Men get bail in Dubai due to lack of translator
- Security trial in UAE adjourned until December
- Colombia seeks stronger ties with UAE
- Conference on combatting crime through sports begins
- Passer-by foils Dh2.5m robbery bid in Dubai
- Brothers deny vandalising plaintiff's car
- Extended break for Eid and National Day
- Free SMS offer for paid parking in Dubai
- UAE official urges corporate support for diabetes control initiatives
- Duo develop low energy desalting process
Community Reports
-
Pavement parking irks pedestrians
Gulf News reader calls on authorities to step in and stop car owners from invading pathways meant for safe walking
-
Faded parking lines pose a problem
Motorists could be fined for parking incorrectly even though they can hardly see the boundaries in the designated areas
-
School buses block residential parking
Commercial vehicles taking up free parking facilities in Al Wuheida, inconveniencing residents in surrounding villas
-
Community report: Doing their bit for poor children
A group of students takes concrete action to raise funds for Dubai Cares
