Innovation is part of the pillar 'United in Knowledge' of Vision 2021 which focuses on innovative Emiratis building a competitive economy. Read about the steps and initiatives undertaken to encourage innovation in the UAE.
Purpose of encouraging innovation
The main purposes behind encouraging innovation can be summarized as follows:
Innovation is part of the pillar 'United in Knowledge' of Vision 2021 which focuses on innovative Emiratis building a competitive economy. One of the Key Performance Indicators of this pillar is the Global Innovation Index.
The UAE is ranked 34th globally and 1st regionally in the 2020 Global Innovation Index. The UAE’s rank improved by 2 positions from last year while the country continues to lead the region for the 5th consecutive year. The UAE’s progress cements its status as one of the world’s most innovative countries.
The Global Innovative Index measures the performance of innovation in countries. Innovation inputs are measured based on institutions, human capital and research, infrastructure, market sophistication and business sophistication. While innovation outputs are measured by knowledge and technology outputs and creative outputs.
The UAE adopted its own measurement tools including the Abu Dhabi Innovation Index to monitor progress towards innovation. The index employs existing input and output indicator data across a wide range of socio-economic activities undertaken in 188 countries' economies, to focus on what is of greatest relevance to policymakers, namely the creation of new socio-economic value.
This new index is designed to reflect the innovation that actually matters, by providing a more persuasive interpretation of the data than previous measures, and by generating better comparisons between and within economies.
Related links:
UAE Innovates - UAE innovation website
