Media

UAE Vice President and Prime Minister and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum, in the presence of His Highness Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai launched a AED 2-billion Innovation Fund to be managed by the Ministry of Finance. The Fund will finance the intellectual products and services for individuals and companies as well as commercial innovative ideas. Experts from all sectors are engaged in the fund to evaluate the financial feasibility of provided ideas. The Fund will provide finance, credit and organizational facilities to the projects financed; and aims at creating an integrated supportive environment for innovation through collaboration with various financial institutions and funding entities within the UAE, including commercial banks, investment funds, family businesses and other funding entities. The announcement of the Fund’s launch was made during the Financing Innovation and Innovative Financing conference hosted by the Ministry of Finance at the Sofitel Dubai Downtown Hotel.