Nabta Health is proud to announce its acceptance into the inaugural cohort of the MBRIF Innovation Accelerator. The Mohammed bin Rashid Innovation Fund (MBRIF) is a federally-sponsored initiative conceived and sponsored by the Ministry of Finance to support local innovators in accessing affordable finance through the provision of a government-backed guarantee. The Fund of AED 2 billion was announced in November 2015 during the UAE’s inaugural Innovation Week which sought to showcase a variety of innovative initiatives across federal and local levels of government and within the private sector.
In line with its efforts to support UAE National Innovation Strategy, H.H. Sheikh Hamdan bin Rashid Al Maktoum, Deputy Ruler of Dubai and Minister of Finance, during December 2018, launched the first-ever MBRIF Innovation Accelerator. The launch took place at a special event held at Dubai Opera, in the presence of H.E. Obaid Humaid Al Tayer, Minister of State for Financial Affairs, leaders of the UAE government, representatives of the country’s largest private sector companies, and a select group of innovators and entrepreneurs.
The Ministry of Finance announced the launch of the MBRIF Innovation Accelerator as a public-private partnership to support local and international innovators in a pioneering move aimed at enhancing the growth potential of innovative businesses that would shape the future of the UAE’s economy. The fund aims to identify and support the best innovators in the UAE. It will do so by supporting innovative local businesses and provide them the necessary tools to grow both on a national and international level. Additionally, the innovation accelerator also aims to support inventive projects that contribute to the national economy, by attracting leading innovators from around the world by helping them establish their businesses within the country, and providing with all the benefit offered by the government as well as private sector entities.
At the launch event, H.H. Sheikh Hamdan Bin Rashid said: “The UAE has been at the forefront of this year’s Global Innovation Index (GII) in the Arab World, and this spurs us on to continue to support innovation as a key driver of the economy, that, under an inspirational leadership looks towards a stable and ambitious future. The initiative aims to explore the future, keep abreast of the latest developments and support innovative talents that seek to establish companies that contribute to the betterment of the UAE by achieving the objectives of the UAE Vision 2071.”