Dubai Future Foundation's 'Country in Residence' to boost opportunities

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Dubai Future Foundations Country  in Residence to boost opportunities

Published: Mon 4 Feb 2019, 8:38 PM

Last updated: Tue 5 Feb 2019, 4:13 PM

The UAE on Monday launched a new platform  to promote global collaborations through Area 2071's ecosytem. The programme 'Country in Residence' - the first of its kind in the world -  will boost networking among the participating countries giving them access to opportunities in the UAE. 
The initiative is launched under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council and Chairman of the Board of Trustees of Dubai Future Foundation (DFF); Area 2071.
The programme will allow participating countries to work closely with governments, private sectors and Area 2071's dynamic ecosystem to address future challenges and co-create it for the betterment of humanity and provides business, diplomatic and cultural delegations and investors exclusive access to UAE based opportunities. 
Moreover, it provides representatives from participating countries the opportunity to connect with government entities, international organisations, private sectors, startups, business leaders, scientists and experts in the region.
Khalfan Belhoul, CEO of Dubai Future Foundation, said that Area 2071's new programme serves as a global strategic platform for the UAE and participating countries to strengthen the foundation's efforts towards building effective collaborations that ultimately accelerates the pace of innovation, enables the adoption of the fourth industrial revolution, and embraces knowledge sharing through the export and import of global knowledge and innovation.
Sharief M. Fahmy, chairman AmCham Abu Dhabi, the trademark of the American Business Group of Abu Dhabi, is a member of the global network of American Chambers of Commerce, said the American Chamber of Commerce in Abu Dhabi is excited and fully supports this UAE government's initiative.
"This is a positive step in the right direction. The US business community prides itself in having the best of the best in innovation and believe UAE is perfectly situated to foster an environment for global growth.  This announcement will also encourage the SMEs sector to have more confidence in bringing opportunities to UAE as the ecosystem continues to grow.
"We believe Area 2071 offers a unique opportunity for big global thinking, ideas and ideology which is not offered anywhere else in the world!  We are excited to see what will come from this announcement."
The UAE Centennial Plan aims to make the UAE the world's leading nation by 2071. AREA 2071 is a physical manifestation of that aim with the sole purpose of creating positive global impact. It is an ecosystem purposefully designed to deeply connect corporates, governments, startups, investors, the youth, and the public in order to co-create the future. Area 2071 witnessed several partnerships, between individuals and organisations, to develop new ideas that focus on key challenges, in various sectors, such as aviation, education, energy, entrepreneurship, technology, health and logistics.
"Today, the UAE is, like the Netherlands, one of the global pioneers in international trade and innovation. An open approach and consistent investment in relationships between governments, knowledge institutes and the private sector will lead to economic growth and will enhance our overall bilateral economic relations," said Hans Sandee, Netherlands' Consul-General to Dubai and Commissioner-General of the Netherlands Pavilion at Expo 2020 Dubai.
Some of the leading industry players have welcomed the launch of the programme. 
Walid Hanna, CEO of MEVP, said:  "Whilst the term entrepreneur in Residence is quite rampant, Country in Residence is not and we are proud to see a unique programme like this one come out of the UAE. This initiative should give the local ecosystem quick and efficient access to global markets through such partnerships while shedding light on what the UAE has to offer. We push our startups (especially those whose products allow, i.e. SaaS companies) to think globally, and act locally. After all, scaling is key for any venture capitalist's investment and this initiative will help with that endeavour. At MEVP, we welcome this initiative and look forward to collaborating with the participating countries and other parties within Area 2071."
Endorsing similar views, Shane Shin, founding managing partner at Shorooq Investments, said: "The Area 2071 initiative will bring world's top talents, startups and businesses to the country and such exquisite harmony of diverse group of talents, culture, knowledge and experiences makes Dubai utterly unique, particularly to an expat like me who is born in Korea and came to pursue my vision for the Middle East from the US Silicon Valley.  As an early stage VC investor in the region, Shorooq Investments is excited to experience and work with our portfolio partners to help them expand globally through this." - sandhya@khaleejtimes.com
 

by

Sandhya D'Mello

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Khalfan Belhoul, CEO of Dubai Future Foundation.
Khalfan Belhoul, CEO of Dubai Future Foundation.
Sharief M. Fahmy, chairman AmCham Abu Dhabi
Sharief M. Fahmy, chairman AmCham Abu Dhabi
Hans Sandee, Netherlands' Consul-General to Dubai and Commissioner-General of the Netherlands Pavilion at Expo 2020 Dubai.
Hans Sandee, Netherlands' Consul-General to Dubai and Commissioner-General of the Netherlands Pavilion at Expo 2020 Dubai.
Walid Hanna, CEO of MEVP.
Walid Hanna, CEO of MEVP.
Shane Shin, founding managing partner at Shorooq Investments and Mahmoud Adi, Founding Partner at Shorooq Investments.
Shane Shin, founding managing partner at Shorooq Investments and Mahmoud Adi, Founding Partner at Shorooq Investments.

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