Dh1b fund to shape future of key sectors

Mohammad Bin Rashid says future is not built on possibilities but on planning and vision

Image Credit: WAM
The Foundation, called ‘house of wisdom’, was launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday.
Gulf News

Dubai: Dubai Future Foundation was set up on Sunday as an independent research endowment establishment with an aim to shape the future of the strategic sectors in cooperation with the government and private sectors entities.

The Foundation, called ‘house of wisdom’, was launched by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, on Sunday. Shaikh Mohammad also approved the setting up of a Dh1 billion Future Endowment Fund to invest in innovation and perceiving the future. Shaikh Mohammad also approved the Dubai Future Agenda as a strategic framework for the Foundation.
Speaking on the occasion, Shaikh Mohammad said that shaping the future and making it is no longer a theoretical concept but a key factor for countries to achieve competitiveness in the global arena.

“The future is not built on possibilities and numbers but on clarity of vision, planning, action and implementation. Science and technology are changing the world at an accelerating pace, and the choice is to either play the role of influencers or get confined to the position of the affected,” Shaikh Mohammad added.

Shaikh Mohammad said: “Dubai has a modern infrastructure and appropriate legislative structure which can promote its position as a global hub for the making of the future in the region and the world. Shaping the future is not a new concept for Dubai. The city has achieved significant experience in aviation, trade, financial services and technology.”


The Vice-President said that Arabs and Muslims established the ‘House of Wisdom’ in the 9th century as a global model for sciences and a platform for innovators from all over the world. “

Today we need this concept again in the 21st century to keep up with the changes and to shape the future to serve humanity. After more than 1,000 years we are recreating wisdom through Dubai Future Foundation,” he added. 


In this context, Shaikh Mohammad said: “Today we have launched Dubai Future Foundation and we look forward to a new phase in which the Foundation will play a pivotal role in shaping the future of Dubai. We have launched Dubai Future Agenda as a road map for the Foundation to shape the future of the strategic sectors in the medium- and long-term in cooperation with government and private sector entities.”


Shaikh Mohammad said that the Dubai Future Agenda will focus on supporting and developing individuals, organisations and sectors, and include more than 20 initiatives to enhance the leadership of Dubai and the UAE.


He also approved the Future Cities programme as a framework for the launch of strategies and research projects related to the future to achieve the global leadership of Dubai and the UAE and create a global model in the field of future cities with all its components such as energy, transportation and infrastructure.

Highlights:

The Dubai Future Foundation will have a new board of trustees headed by Shaikh Hamdan Bin Mohammad Bin Rashid Al Maktoum, Crown Prince of Dubai, and Mohammad Abdullah Al Gergawi, Minister of Cabinet Affairs and the Future, as the Vice-Chairman and Managing Director. Saif Al Aleeli will be the Chief Executive Officer of the new Foundation. 
 


The Future Agenda includes three main pillars: Individuals, Organisations and Sectors. 


Individuals:


The pillar aims to build capacities, culture, knowledge and communities. During the coming period, a range of initiatives and training programmes will be launched targeting individuals in the government and the private sector within the UAE and abroad to prepare them for future leadership and explore the future of strategic sectors.


Organisations: 


The Future Agenda will focus on engaging various organisations from the public and private sectors by establishing Future Teams to conduct research and apply the latest future technologies. The agenda also includes the establishment of Future Laboratories specialised in the analysis of strategic challenges of the government sector.
 


Sectors: 


The third pillar of the agenda will enhance the role of the existing sectors of the future based on innovation, science and technology in the national economy through four main programmes:



The first programme aims to organise interactive exhibitions inside and outside the UAE to explore the future of sectors in the long term and develop the concepts that will reinvent these sectors such as the annual Museum of the Future during the World Government Summit.



The second programme is Future Partners, which will be a network of global partners in the areas of innovation, research and development, and establishing specialised companies in consulting, modelling and future design, in addition to the launch of joint initiatives with international companies and key players in the field of innovation research and development around the world.
 
Future Cities programme will work in cooperation with government entities to launch specialised strategies and pilot projects to achieve global leadership for the UAE within the main innovation sectors.
 
Future Making programme will establish value-added new sectors economically and socially, through initiatives such as Future Incubators and Future Endowment Fund worth Dh1 billion.
 


The Museum of the Future


Under the new structure, the Museum of the Future, launched last year, will be a part of the Dubai Future Foundation. 
 
Global partnerships and projects
Since its establishment in August 2015, Dubai Future Foundation has signed several agreements with government entities, companies as well as academic and international organisations.
 


The Foundation has also launched many successful initiatives at the international level, including the UAE Drones for Good, the UAE AI and Robotics Award for Good, as well as the world’s first 3D printed office in Dubai.
 
The Foundation has also established the World Federation of Future Sports as an organisation to oversee the future sports sector and advance research and development in the field of future technologies. The Federation will organise the World Future Sports Games.
 
Dubai Future Foundation has also founded the Global Blockchain Council, which includes 42 government entities and private companies to discuss the best applications in Blockchain technologies.

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