Earlier this month, the UAE unveiled its National Innovation Strategy, focusing on innovation in education, health, renewable energy, space, technology, transportation and water. The first of the Strategy’s four tracks will promote an environment for innovation via institutions and laws. It will include technological infrastructure, innovation incubators and increased R&D. For the second track, the government will cut spending by 1%, putting the savings toward innovation projects. By encouraging companies to set up centers for innovation and science, adopt new technologies and develop innovative products, the third track will stimulate private-sector innovation. The fourth track will focus on training individuals in science, technology, engineering and math, and promote partnerships in innovation. The first phase of the Strategy is to be completed in three years. Progress will be assessed via government, private-sector and global indicators. Presently, the nation invests AED 14 billion ($3.8 billion) annually in innovation, half of which is for R&D, with spending to increase substantially in the coming years.

Source: Emirates New Agency