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The 1st cycle of the Mohammed Bin Rashid Al Maktoum (MRM) Business Innovation Award, launched by Dubai Chamber of Commerce and Industry in cooperation with the UAE Ministry of Economy, has resulted in the adoption of new innovative strategies among businesses in the UAE and the wider GCC region.
Preparations are currently underway to host a prestigious awards ceremony, where the first winners of the MRM Business Innovation Award will be recognised, along with winners of the 9th cycle of the MRM Business Award.
The MRM Business Innovation Award, the highest level of recognition for attaining innovation excellence, honours outstanding business practices and performance in the realm of innovation, and places a strategic focus on transforming business models to meet current and future challenges.
In addition, the award programme supports the UAE’s National Innovation Strategy, as well as the country’s aim to transition to a knowledge-based economy, and boost the competitiveness of the local business community.
The MRM Business Innovation Award covers several categories, namely finance, services, construction, trade, re-export, transport and logistics, and manufacturing. The award saw strong participation during its first cycle, with a high number of participants coming from the GCC’s services and manufacturing sectors.
H.E. Sultan bin Saeed Al Mansouri, UAE Minister of Economy and Chairman of the Panel of Judges for the Mohammed Bin Rashid Al Maktoum Business Award, explained that the UAE is seeking to develop its economy by encouraging businesses to adopt best-in-class business practices, adding that several initiatives have been put into place to strengthen the country’s position as an innovation hub.
“The ministry is collaborating with key stakeholders in the UAE to implement innovative strategies in the private sector, including the Mohammed Bin Rashid Al Maktoum Business Innovation Award, which aims to foster a culture of innovation and creativity within business communities in the UAE and across the GCC region,” said H.E. Al Mansouri.
For his part, H.E. Hamad Buamim, President and CEO of Dubai Chamber, said the award programme serves as a mechanism to promote innovation excellence and enhance the competitiveness of business communities within the region.
“This prestigious award programme is aligned with our strategy and efforts designed to drive innovation and sustainable growth within the private sector. We are very pleased with the strong response that was received in the first cycle, and look forward to celebrating the achievements of the winners who have become leaders in their respective fields,” H.E. Buamim said.
Dubai Chamber is set to host the high-profile award ceremony for the MRM Business Innovation Award and the MRM Business Award on February 21st, 2017 at Madinat Jumeirah Arena.
The MRM Business Innovation Award was launched by the Chamber in in collaboration with the UAE Ministry of Economy at a global conference in 2015 during the Year of Innovation.
The MRM Business Award, a member of Mohammed Bin Rashid Al Maktoum Global Initiatives, was initiated in 2005 to recognise and celebrate the success of organisations that contribute to the sustainable economic development of the UAE and the wider GCC region.
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