Dubai Holding, a global investment holding company operating in 13 countries and Principal Pathway Partner at COP28, has announced an innovation challenge to develop solutions to address critical issues in waste, recycling and resource recovery in the UAE to drive a circular economy.
Titled 'Innovate for Tomorrow,' the first-of-its-kind initiative by Dubai Holding will open for entries in January 2024.
It will see early-stage, growth-stage and scale-up companies, from around the globe, submit ideas that can help unlock new solutions on recycling and circularity, ultimately helping accelerate the UAE’s path towards net zero.
Directly contributing to the advancement of sustainable resource management practices, the challenge, which , aims to enable entrepreneurial innovations, with a significant emphasis on providing start-ups, particularly youth innovators, with a platform to bring solutions to life, and gain access to mentorship opportunities from within Dubai Holding’s diverse portfolio.
"Dubai Holding has long played an instrumental role in diversifying Dubai’s economy towards sustainable, innovation-led growth. The 'Innovate for Tomorrow' challenge underscores our commitment to support the UAE’s efforts to promote future-focused solutions that help decarbonise sectors, and boost the circular economy," said Huda Buhumaid, Chief Impact Officer, Dubai Holding.
"By fostering innovation and actively engaging with global start-ups, young innovators are better enabled to develop impactful solutions that help address tomorrow’s challenges. Unveiled at the sidelines of COP28, our challenge forms part of our commitment to deliver benefits to our communities and collaboratively shape a future that is not only sustainable but is also inclusive and marked by resilience and forward-thinking."
Following a rigorous pitch process, the winners of 'Innovate for Tomorrow', expected to be announced by April 2024, will receive a comprehensive rewards package, including a financial prize, the opportunity for a pilot project with Dubai Holding, networking opportunities, access to TECOM Group’s in5 business incubator for start-ups and entrepreneurs, and mentorship with Dubai Holding experts.
In a commitment to ensuring equal access, there are no registration fees for applicants.
Details of the application process will be available in January 2024.