MBRIF

FOREWORD

Innovation has always been fundamental to the UAE’s ambitions. For years, the nation’s visionary leadership has worked to build the foundation well before its time had come.

This world-class infrastructure, developed at staggering speed, is now at the heart of our country that effortlessly supports a leading global business, trade and tourism hub – and proved a lifeline in powering business, economic and financial activity during the Covid-19 outbreak.

How we live, work and connect has changed forever, and the ongoing virus situation has reiterated to us the importance of continually innovating. Here at the Mohammed Bin Rashid Innovation Fund (MBRIF), we select startups based on their potential to transform the world as we know it for the better. And I am proud to share that the innovative technology solutions of some of our member startups supported sectors and communities during the pandemic, proving that companies of all sizes have the potential to make a positive economic and social impact. Their invaluable contribution as the world continues to experience unprecedented challenges also spotlights the importance of supporting a strong startup ecosystem in the UAE and around the world.

Placing innovation at the forefront is crucial to our future and we are now accelerating our momentum with a greater sense of urgency to enable and fuel new technology solutions. We see immense opportunities in healthcare, education, transportation, clean energy, water and space, among others.

” The UAE has always promoted a culture of cooperation and collaboration across borders and this is the model we emulate at MBRIF, welcoming high potential innovators from anywhere in the world.
Our firm commitment to support entrepreneurs is also reflected in our Guarantee Scheme, a federal government backed program sponsored by the Ministry of Finance, that helps startups obtain growth funding without diluting their equity.

His Excellency Younis Haji Al Khoori

Undersecretary at the Ministry of Finance UAE

FOREWORD

I am pleased to share the 2021 edition of the Mohammed Bin Rashid Innovation Fund (MBRIF) annual report, detailing our achievements, insights and sentiments of our members.

Our commitment to encouraging and fostering innovation was evident in the progress of our cohorts even as the world continued to face major disruption to the way individuals, communities and businesses functioned.

How we live, work and connect has changed forever, and the ongoing virus situation has reiterated to us the importance of continually innovating. Here at the Mohammed Bin Rashid Innovation Fund (MBRIF), we select startups based on their potential to transform the world as we know it for the better. And I am proud to share that the innovative technology solutions of some of our member startups supported sectors and communities during the pandemic, proving that companies of all sizes have the potential to make a positive economic and social impact. Their invaluable contribution as the world continues to experience unprecedented challenges also spotlights the importance of supporting a strong startup ecosystem in the UAE and around the world.

This is why we put innovators at the heartof what we do.

” As the first country in the Middle East, Africa and South Asia region to host a World Expo, it is only fitting that we also celebrated the UAE’s Golden Jubilee, proving that innovation supersedes all limitations of time and that, in a mere 50 years, our small desert state has marked an eminent position on the global map.

Fatima Alnaqbi

Chief Innovation Officer of the Ministry of Finance,
and official representative of the MBRIF