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Ministry of Finance to host Innovation Festival

Innovation Festival will include workshops and competitions for innovators

Ministry of Finance to host Innovation Festival
The Ministry of Finance will hold Innovation Festival as part of the UAE's Innovation Week.

The UAE Ministry of Finance will hold an Innovation Festival, as part of the UAE Innovation Week.

Taking place over two days, the Innovation Festival will include a range of workshops and discussions for business innovators and entrepreneurs, and young people; and a hackathon, to create a platform for discussion and knowledge sharing around innovation.

The two-day event will take place on 21-22nd November, and is sponsored by e-dirham.

Events will include workshops on funding, business planning and business launches; and a showcase of innovative projects from the private sector. For children there will be a young innovators program and contest.

The festival will include an ‘Innovation Discussion', hosting a number of innovators and international experts to deliver presentations and participate in panel discussions about the future of innovation. Presenters will feature renowned names such as Hatem al Amoudi, a UAE businessman and founder of the Energy Solutions Group International (ESGI) in the "Innovation Journey' segment and a keynote speech from Dr. Bruno Lanvin, from INSEAD on innovative nations, followed by a panel discussion on the role of innovation and how it can be promoted.

HE Obaid Humaid Al Tayer, Minister of State for Financial Affairs commented that the Ministry of Finance (MoF) adopts a culture of creativity and innovation and implements it in government work as a main pillar of the national strategy. HE further added that MoF is committed to providing an innovative eco-system to give way to creativity and investment in human resources. MoF is keen to support all national efforts which are aimed towards fostering and elevating the rank of the UAE in achieving a position amongst the ten most innovative countries in the world by 2021, through the adoption of a culture of innovation in all aspects of government.

Al Tayer said: "The UAE is a pioneer in entrepreneurship and innovation, which has become the adopted approach in all fields as a main pillar in governance. The pursuance of innovation today has become a comprehensive system with full-time teams and is now an anchored culture in both society and government, which works on developing its people and institutions in terms of knowledge and creativity. Innovation is necessary to build a sustainable future and realize a qualitative jump in that direction. Furthermore, it enhances international competitiveness and positions the UAE among the most innovative countries worldwide.

"The UAE has great achievements to its credit in the area of innovation and has accomplished a number of events and activities during 2015, the Year of Innovation, in local and federal government as well as the private sector.

"As part of this momentum, MoF launches the Innovation Festival, to celebrate the spirit of creativity and excellence and to spread this culture among both Emiratis and residents of the UAE, as a contribution to the building of a knowledge-based society to guarantee the UAE will pursue its journey towards excellence in all fields. Through endeavours such as these, including the Innovation Festival, the UAE will become a global model of innovation which will further position the UAE amongst the other developed economies of the world. The Innovation Festival is a meeting place for creative minds and opens the door to companies and entrepreneurs to cooperate in various fields. It also allows innovators to communicate amongst each other to promote their innovations. The process is aimed towards addressing the needs of the UAE to achieve a smart government of the future," Al Tayer added.

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