Mohammed launches Dubai Future Agenda Dh1b Future Fund

(MENAFN- Khaleej Times) Shaping the future and making it is no longer a theoretical concept but a key factor for countries to achieve competitiveness in the global arena said His Highness Shaikh Mohammed bin Rashid Al Maktoum Vice-President and Prime Minister of the UAE and Ruler of Dubai.

"The future is not built on possibilities and numbers but on clarity of vision planning action and implementation" Shaikh Mohammed stated during the announcement of the Dubai Future Foundation and after approving the Dubai Future Agenda as a strategic framework for the foundation.

Science and technology are changing the world at an accelerating pace and the choice is to either play the role of influencers or get confined to the position of the affected he added.

Shaikh Mohammed said: "Dubai has a modern infrastructure and appropriate legislative structure which can promote its position as a global hub for the making of the future in the region and the world. Shaping the future is not a new concept for Dubai. The city has achieved significant experience in aviation trade financial services and technology."

"Arabs and Muslims established House of Wisdom in the 9th century as a global model for sciences and a platform for innovators from all over the world. Today we need this concept again in the 21st century to keep up with the changes and shape the future to serve humanity. After more than 1000 years we are recreating wisdom through Dubai Future Foundation" he said.

"Today we have launched 'Dubai Future Foundation' and we look forward to a new phase in which the foundation will play a pivotal role in shaping the future of Dubai. We have launched Dubai Future Agenda as a roadmap for the Foundation to shape the future of the strategic sectors in the medium and long term in cooperation with government and private sector entities.

"Dubai Future Agenda will focus on supporting and developing individuals organisations and sectors and include more than 20 initiatives to enhance the leadership of Dubai and the UAE" Shaikh Mohammed said.

He approved the establishment of Future Endowment Fund worth Dh1 billion to invest in innovation and shape the future of strategic sectors in the UAE. He approved the Future Cities programme as a framework for the launch of strategies and research projects related to the future to achieve the global leadership of Dubai and the UAE and create a global model in the field of future cities with all its components such as energy transportation and infrastructure.

The Dubai Future Foundation will have a new board of trustees headed by Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum Crown Prince of Dubai; and Mohammed Abdullah Al Gergawi as the vice-chairman and managing director. Saif Al Aleeli will be the Chief Executive Officer of the new foundation.

Future Agenda - an integrated plan

The Future Agenda includes three main pillars: Individuals organisations and sectors. The pillar of individuals aims to build the capacities of individuals in making the future. The organisations pillar will enable organisations to drive innovation within their sectors. The agenda also aims to support and strengthen the role of future sectors of the national economy.

Individuals pillar:

The pillar aims to build capacities culture knowledge and communities. During the coming period a range of initiatives and training programmes will be launched targeting individuals in the government and the private sector within the UAE and abroad to prepare them for future leadership and explore the future of strategic sectors.

Dubai Future Foundation will further develop initiatives launched during the past period such as Mostaqbal Portal a scientific platform to publish reports and visual material about developments in future science and the latest innovations in strategic sectors as well as the Schools of the Future report which highlights the future of the educational system in the short and medium term.

Organisations pillar:

The Future Agenda will focus on engaging various organisations from the public and private sectors by establishing Future Teams to conduct research and apply the latest future technologies. The agenda also includes the establishment of Future Laboratories specialised in the analysis of strategic challenges of the government sector and the development of innovative solutions to solve these challenges in partnership with international companies and research institutions.

Sectors pillar:

The third pillar of the agenda will enhance the role of the existing sectors of the future based on innovation science and technology in the national economy through four main programmes:

The first programme aims to organise interactive exhibitions inside and outside the UAE to explore of the future of sectors in the long term and develop the concepts that will re-invent these sectors such as the annual Museum of the Future during the World Government Summit.

The second programme is Future Partners which will be a network of global partners in the areas of innovation research and development and establishing specialised companies in consulting modelling and future design in addition to the launch of joint initiatives with international companies and key players in the field of innovation research and development around the world.

Future Cities programme will work in cooperation with government entities to launch specialised strategies and pilot projects to achieve global leadership for the UAE within the main innovation sectors.

Future Making programme will establish value-added new sectors economically and socially through initiatives such as: Future Incubators and Future Endowment Fund worth Dh1 billion.

The Museum of the Future

Under the new structure the Museum of the Future launched by Shaikh Mohammed last year will be a part of the Dubai Future Foundation. The Museum of the Future on the Shaikh Zayed Road in Dubai which is one of the most important projects that will be completed in the coming period will include laboratories of innovation in health education energy smart cities transportation and a Museum of Future Inventions.

Global partnerships and projects

Since its establishment in August 2015 the Dubai Future Foundation has signed several agreements with government entities companies as well as academic and international organisations including: Mohammed bin Rashid Space Centre IEEE Shenzhen Foundation for International Cooperation Unesco IDA General Electric and others.

The foundation has also launched many successful initiatives at the international level including the UAE Drones for Good the UAE AI & Robotics Award for Good as well as the world's first 3D printed office in Dubai.

The foundation has also established the World Federation of Future Sports as an organisation to oversee the future sports sector and advance research and development in the field of future technologies. The Federation will organise the World Future Sports Games.

The Dubai Future Foundation has also founded the Global Blockchain Council which includes 42 government entities and private companies to discuss the best applications in Blockchain technologies. - Wam