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Promoting Prosperity

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The Mohammed bin Rashid Initiative for Global Prosperity aims to use open innovation to forge greater collaboration and benefit the world economy.

Following the announcement made at the Global Manufacturing & Industrialization Summit (GMIS) in Abu Dhabi earlier this year, His Excellency Dr. Thani Ahmed Al Zeyoudi, UAE Minister of Climate Change and Environment, unveiled the Mohammed bin Rashid Initiative for Global Prosperity at an interactive session on Innovation and Technology during the United Nations General Assembly (UNGA 72) in New York.

“The Initiative for Global Prosperity is a gift from His Highness Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and Ruler of Dubai, aimed towards manufacturing innovation that serves humanity and promotes global prosperity,” says Dr. Al Zeyoudi.

The initiative combines a Global Prosperity Award with Global Maker Challenges to focus on solving real-world problems through open innovation, and rewarding solutions that have the greatest impact on any one or more of the UN Sustainable Development Goals (SDGs). By creating an inclusive environment that brings together manufacturers, start-ups and entrepreneurs, governments and NGOs, the Mohammed bin Rashid Initiative on Global Prosperity believes it will create an innovative ecosystem that encourages collaboration and partnerships, and empowers the broader society to play a larger role in building global prosperity.

“This global initiative extends the UAE’s transformational vision of creating an innovative ‘maker’ economy to people from all around the world,” says His Excellency Khaldoon Khalifa Al Mubarak, Group CEO and Managing Director of Mubadala Investment Company. “It is a unique opportunity to promote innovation, forge new partnerships and unlock value by forming a community dedicated to global good.”

The initiative will involve an online community of co-creators that integrates machine, digital and human capabilities to deliver solutions to some of the world’s most pressing problems. The goal is to pave the way for new businesses, job creation and economic growth.

“Preparing the global society and its workforce for the digital transformation is crucial to leverage the bright future for manufacturing,” says Joe Kaeser, president and CEO of Siemens AG. “The Mohammed bin Rashid Initiative for Global Prosperity will play a critical role in bringing together the best ideas from companies of all sizes and from all over the world to make a lasting impact on human and societal development.”

The Mohammed bin Rashid Initiative for Global Prosperity will form a panel of experts from industry, academia and the public sector to assess submissions.  The panel, along with the challenges and sponsors identified, will be launched at the World Government Summit in February 2018.

“IBM is proud to support the MBR Initiative for Global Prosperity, and we believe the future of innovation in manufacturing will be driven by digitization, sophisticated data analytics and cognitive technologies such as IBM Watson,” says Ginni Rometty, chairman, president and CEO of IBM. “This visionary initiative is a valuable step in applying these exciting new capabilities – what some call the fourth industrial revolution – to serve humanity and contribute to global prosperity.”

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