Applications Open For Dubai Holding's Innovate for Tomorrow Global Sustainability Challenge The winners of the challenge will be announced in May 2024, after an elaborate evaluation process.
By Entrepreneur Middle East Staff Edited by Aby Thomas
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Dubai Holding, a UAE-based global investment holding company that operates across 13 countries, has opened applications for its global sustainability-focused challenge, Innovate for Tomorrow.
Open to innovators, entrepreneurs, and scale-up companies across the world, the competition invites scalable and impact-driven solutions that can directly address pressing sustainability issues in the UAE.
Interested individuals can submit their applications by March 31, 2024, here.
Submitted ideas must either be in the minimum viable product (MVP) form, a service, or a combination of both. The solutions must also exhibit a clear emphasis on production practices that are in line with United Nations Sustainable Development Goal (UNSDG) 12- a policy that encourages more sustainable consumption and production patterns through more efficient management of environmentally toxic materials. The applications can thus be operational across areas of focus such as economic circularity, resource efficiency, supply chain sustainability, waste reduction, and consumer education.
"As a socially responsible business that operates 'for the good of tomorrow,' sustainability is at the forefront of our operations across Dubai Holding," said Huda Buhumaid, Chief Impact Officer at Dubai Holding. "Our unwavering commitment to deliver positive impact and shape a better future for all our stakeholders is grounded in a steadfast dedication to sustainable innovation. Through initiatives such as the Innovate for Tomorrow Challenge, we actively pursue transformative opportunities to strengthen our contribution to national sustainability agendas, including reinforcing Dubai's ambition to reduce its environmental impact, as well as cementing our position as a catalyst for meaningful change in the UAE and beyond."
Huda Buhumaid, Chief Impact Officer, Dubai Holding. Source: Dubai Holding
The 'Innovate for Tomorrow' has been launched in collaboration with in5, a Dubai-based startup incubator that falls under UAE-based multi-sector-focused company, TECOM Group. With the challenge focused primarily on sustainability development, it seeks solutions that can further the UAE's goals in creating a circular economy as well as achieving net-zero. "This challenge offers a valuable platform for impactful collaboration with global innovators who share a commitment to implement scalable solutions to help create a better, more sustainable and inclusive future for all," Buhumaid added. "We look forward to seeing the innovation the applicants will no doubt showcase and working alongside them to provide the vital guidance and support to bring their solutions to life."
The winner and runner-up of the challenge will be announced in May 2024, after an elaborate evaluation process. The winner will be given the opportunity to implement the solution through an exclusive pilot program under Dubai Holding and will also gain access to personalized mentoring by its industry experts. Both the winner and the runner-up will then receive a set of comprehensive rewards to build and scale their ideas, including access to TECOM Group's in5 business incubator, and cash prizes. Additionally, the five finalists of the challenge will get to showcase their innovations and solutions to key industry stakeholders at an investor pitch event.
For further information or to submit an application to the 'Innovate for Tomorrow' Challenge, click here.
Related: Paradigm Shift: The World Simply Can't Afford To Make Unsustainable Investments Anymore
