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Mohammad Bin Rashid Initiative for Global Prosperity on spotlight at UN assembly

The initiative to focus on solving real world problems through open innovation

Gulf News

New York: Thani Ahmad Al Zeyoudi, UAE Minister of Climate Change and Environment, has released details about the Mohammad Bin Rashid Initiative for Global Prosperity at an interactive session on Innovation and Technology during the United Nations General Assembly in New York.

Al Zeyoudi said: “The Initiative for Global Prosperity is a gift from His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, aimed towards manufacturing innovation that serves humanity and promote global prosperity.”

Khaldoon Khalifa Al Mubarak, Group CEO and Managing Director of Mubadala Investment Company, said: “This global initiative extends the UAE’s transformational vision of creating an innovative 'maker' economy to people from all around the world. It is a unique opportunity to promote innovation, forge new partnerships and unlock value by forming a community dedicated to global good.”

The initiative combines a Global Prosperity Award with Global Maker Challenges to focus on solving real world problems through open innovation, and rewarding solutions that have the greatest impact on any one or more of the UN Sustainable Development Goals (SDGs). By creating an inclusive environment that brings together manufacturers, start-ups and entrepreneurs, governments and NGOs, the Mohammad Bin Rashid Initiative on Global Prosperity will create an innovative ecosystem that encourages collaboration and partnerships, and empowers the broader society to play a larger role in building global prosperity.

“Preparing the global society and its workforce for the digital transformation is crucial to leverage the bright future for manufacturing,” said Joe Kaeser, President and Chief Executive Officer of Siemens AG. “The Mohammed Bin Rashid Initiative for Global Prosperity will play a critical role in bringing together the best ideas from companies of all sizes and from all over the world to make a lasting impact on human and societal development.”

“We know that innovation is a key driver for creating workable solutions to the most pressing challenges. The initiative will bring together partners from the public and private sectors to identify the areas where we can have a tangible impact. GE is proud to be a partner in this initiative, and we will capitalise on our unique position as a global digital industrial leader to help create positive change through innovation” said John Flannery, CEO and Chairman-elect, GE.

Also commenting on the launch of the Initiative, Ginni Rometty, Chairman, President and Chief Executive Officer of IBM, said: “IBM is proud to support the MBR Initiative for Global Prosperity, and we believe the future of innovation in manufacturing will be driven by digitisation, sophisticated data analytics and cognitive technologies such as IBM Watson. This visionary initiative is a valuable step in applying these exciting new capabilities, what some call the fourth industrial revolution, to serve humanity and contribute to global prosperity.”

The Mohammed Bin Rashid Initiative for Global Prosperity will form a panel of experts from industry, academia and the public sector to assess submissions. The panel, along with the identified challenges and sponsors, will be launched at the World Government Summit in February 2018.

The initiative was launched by His Highness Shaikh Mohammad Bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, in honour of Shaikh Mohammad Bin Rashid for his commitment in transforming the UAE by adopting happiness and positivity as a measure of prosperity, and touching the lives of more than 130 million people across 116 countries by driving more than 1,400 global initiatives.