Dubai: A National Innovation Strategy focusing on seven sectors; including renewable energy, transport, education, health, technology, water and space, was launched to achieve the UAE Vision 2021.
His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, launched the strategy on Sunday.
The four-parallel approach strategy includes 30 priority initiatives to be implemented over the next three years.
“The UAE is already the most innovative Arab nation. We want to be among the most innovative nations in the world. The UAE invests Dh14 billion each year in innovation, Dh7 billion of which is spent on research and development. We will raise this target significantly,” said Shaikh Mohammad.
“The Innovation Strategy requires all government agencies to cut spending by 1 per cent and dedicate the savings to research and innovation. We will build innovation incubators, school and university programmes, and global partnerships with the best innovation centres. It is by using the power of the mind and following innovative approaches that we bring about progress for our country and people,” added Shaikh Mohammad.