MoF Kick-Starts ‘MoF Innovates 2020’ Event as Part of UAE Innovation Month 2020

In the UAE Innovation Month 2020, and as part of its commitment to support innovation and innovators, the Ministry of Finance (MoF) kick-started its ‘MoF Innovates 2020’ event. The events is taking place on 25 and 26 February at Etihad Museum, Dubai.

H.E. Younis Haji Al Khoori, Undersecretary of MoF noted during the event that the UAE has, over the past decade, become, thanks to the wise leadership’s vision, a pioneer in change and a global hub that attracts and nurtures talents and creative minds. This is to build a generation of innovators that are equipped to meet future challenges and to stimulate knowledge-based economies. He also stressed that the Expo 2020, which the country will host this year, will is further testament to the UAE’s pursuit of creativity and innovation.

H.E. said: “The Ministry of Finance will continue to undertake initiatives that advance innovation and creativity in keeping with the UAE government’s vision of creating a stimulating environment for innovation – this will place the UAE at the forefront globally, as well as among the ranks of the most innovative governments worldwide by 2021. It’s for this reason, the ministry has embraced innovation its approach and made it an integral part of every practice, process and service. MoF expends every effort to foster a supportive environment that through initiatives, strategies and programs encourages innovation in the UAE.”

H.E. added: “The Ministry of Finance continues to innovate, deliver on its strategic plans for the future, and use innovation to support sustainable growth. As we have learned from our wise leadership, we do not stop at a particular achievement - success is an ongoing process that is supported by qualified people who are equipped to devise solutions to the challenges we face.”

H.E. concluded: “Our successes so far were thanks to our commitment to work diligently and in cooperation with government entities as well as the private sector, to ensure that all our efforts we targeted at placing innovation at the top of our agenda.”

The first day witnessed a keynote speech by Mr. Jeff Hoffman, an award-winning entrepreneur and CEO and an expert in innovation and accelerated growth in entrepreneurship, who has also won the "Qarami Award". The event saw several presentations on the Global Innovation Index (GII), as well as the performance of the UAE, along with interactive workshops.

During the event, the Hackathon Challenge was also announced, which saw the participation of several entrepreneurs and MBIRF members.

Furthermore, the event honoured and graduated 18 MBIRF members, namely Addenda, Airspace Industrial Blockchain (AIB), CarSwitch, Constructive Trading, Denarii Cash, HeyDoc!, Heyraat E-store, Kinteract, Lamsa  , Morni  and Nabta Health Neutral Fuels LLC, Oliv, Optimus FZCO, Pure Harvest, RAZRLAB, Smart Crowd, and Smart Labour.

His Highness Sheikh Mohammed bin Rashid Al Maktoum launched the Mohammed bin Rashid Innovation Fund four years ago. With a value of AED 2 billion, the aim was to create a program that promotes innovation and shapes the future of the UAE economy. The gold sponsor of MoF’s event is the Federal Tax Authority (FTA), and is supported by several MoF initiatives, such as Mohammed bin Rashid Innovation Fund and e-Dirham system.