In cooperation with "Microsoft" and two Italian institutions

«Economy» launches a global initiative to support emerging companies

Al Falasi stressed during the launch of the initiative that it is an excellent opportunity for startups.

From the source

The Ministry of Economy, in cooperation with Microsoft, the Innovation Center of the Italian Intesa San Paolo Group, and the Italian Caribello Factory, launched a global initiative under the title "The Circular Economy Turns Digital", in order to accelerate the transition towards a circular economy from Through digital technology.

The initiative aims to enable technology-based startups in both the UAE and Italy to present their innovations and inventions to the world's leading companies in this field, with the aim of selecting the most advanced innovations linked to the transition towards a circular economy, and to provide an opportunity for these emerging companies to sign commercial cooperation agreements with companies Globalism.

3 stages

The Ministry of Economy stated in a statement yesterday that the initiative is based on three main stages, starting with the registration phase of the initiative through the ministry's website during the period from October 17 to November 7, 2020, after which no less than 15 qualified Emirati startups will be selected. In the second phase, it will participate, in December, by presenting its innovations and technological solutions to a number of Italian and international companies, which will open the way for them to obtain partnerships and trade agreements between the participating parties.

She added that the third phase includes launching the companies that have achieved cooperation and agreements in the second phase, pilot projects and carrying out examination and development procedures in innovation laboratories in preparation for commercial production.

Communication

The initiative provides an opportunity for emerging and innovative companies in the country to communicate with their counterparts in the Italian market, exchange experiences, and also opens the way for them to showcase their innovations in front of Italian and international companies participating in the initiative, and the possibility of establishing partnerships and cooperation agreements, in addition to making use of the circular economy laboratories in Italy to complete the stages. Research and development related to innovation with the aim of commercial production for a period of six months without any cost, in case the innovation meets the required standards, as well as building and developing relationships with global emerging companies participating in the initiative, and taking advantage of opportunities for commercial cooperation with them.

A supportive environment

The Minister of State for Entrepreneurship and Small and Medium Enterprises, Dr. Ahmed Belhoul Al Falasi, said, “This qualitative initiative works to provide a supportive environment for entrepreneurs and owners of emerging and innovative companies in the country, enabling them to access foreign markets, see opportunities for partnerships and exchange experiences and experiences in the fields they occupy. A priority on the economic agenda, and it serves the sustainable development goals. ”

He added that «the UAE is taking the lead regionally and globally in supporting the transformation towards a circular economy», noting that this global initiative offers innovative emerging companies based on advanced technology operating in the country an excellent opportunity to communicate globally, and to display their innovations and products in preparation for commercial production and the conclusion of partnerships. And cooperation with international companies participating in this initiative.

3 areas of innovation

The new initiative is based on stimulating start-ups to introduce innovations, with the aim of accelerating the transition towards a circular economy in three areas that have been identified, namely:

Designs related to waste and pollution (accelerate products and practical steps to eliminate waste through renewable sources, down to zero waste).

Increasing and expanding supply chains.

- Extending the validity of products and raw materials (developing the required infrastructure to extend the period of sustainability of products and materials as much as possible).

Ahmed Al Falasi:

“The UAE is taking the lead regionally and globally in supporting the transformation towards a circular economy.”

Follow our latest local and sports news, and the latest political and economic developments via Google news