In pursuit of innovation, Dubai leading the charge
Originally published in Gulf News by Issam Kazim (link below)
The 10X initiative aims to catapult the emirate well ahead of global counterparts to become a leader within the next ten years
As a force for change behind most industries and a catalyst for developments across the public and private sectors, innovation is undoubtedly one of the keys to economic development and diversification around the world. The UAE, and Dubai especially, has set its sights on achieving the highest levels of innovation, and incorporating this as a key pillar of our economy, to drive growth and encourage more organisations and entrepreneurs to consider doing business here.
The UAE Vision 2021 bears testimony to these efforts and has played an instrumental role in defining the key themes to achieve socioeconomic development, with a transition to a diversified, knowledge-based economy. It is with this vision in sight that Dubai, where only 5 per cent of the gross domestic product is now oil-based, is implementing a series of strategies and initiatives, adapting innovation within the framework of the city’s economy. Dubai Plan 2021 is one such road map, with emphasis on six priorities, one of which is the economy. In highlighting the importance of a set of diversified value-added economic activities, the plan is also focused on strengthening Dubai’s economic resilience and fortifying the emirate’s position as a global economic hub based on a sustainable model driven by innovation and productivity.
When 2015 was officially announced as the Year of Innovation, all federal government bodies revised internal policies to facilitate a nurturing environment for innovation. That year saw the launch of the UAE Science, Technology and Innovation Policy that heralded the start of a new era of sustainable innovation, based on science and technology, impacting seven priority sectors — education, health, water, renewable and clean energy, space, technology and transportation.