MBRIF concludes its Ninth Innovation Accelerator Cohort with Demo Day spotlighting top startups across key sectors
Dubai, UAE: The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative by the UAE Ministry of Finance to foster innovation and support innovators across the UAE, held its Demo Day to showcase the groundbreaking innovations presented by members of Cohort 9 from its Innovation Accelerator Program.
The event featured innovative companies operating in the UAE and globally, aiming to expand their presence in the country. These companies represent key sectors such as health, transport, education, technology, clean energy, water, and space. The participating startups competed for three awards: Best Pitch, Best UAE Homegrown Business and Most Impactful Business.
The event commenced with welcome remarks by Shaker Zainal, Head of Mohammed Bin Rashid Innovation Fund (MBRIF) and Chief Business Officer at Emirates Development Bank, and a keynote address by H.E. Ahmed Mohamed Al Naqbi, CEO of Emirates Development Bank, followed by creative and innovative presentations delivered by member companies.
Commenting on the occasion, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance, and the Ministry's representative at the Mohammed Bin Rashid Innovation Fund, said: "We are proud to celebrate the achievements of the ninth cohort members of the Innovation Accelerator Program, whose contributions and presentations clearly reflected our aspirations for the National Innovation Strategy. Their outstanding efforts highlight the incredible potential of innovative businesses to shape the future of the UAE's economy."
She continued: "At the Mohammed Bin Rashid Innovation Fund, we are committed to providing comprehensive support to these companies through tailored mentorship, strategic networking opportunities, and world-class resources. This approach ensures that they are well-equipped to grow, excel, and compete on a global scale."
Fatima Alnaqbi concluded by congratulating all participating members and award winners, adding: "We look forward to supporting these companies as they continue their journey toward new heights of success and innovation."
A distinguished panel of judges was responsible for analyzing and evaluating the creative and innovative presentations that the startups delivered. It included Ali AlMajthoob, Managing Director at MEVP; Ivo Detelinov, General Partner at Salica Investments; and Karim Konsowa, Portfolio Manager at Hub71. The evaluations focused on showcasing the unique strengths and promising potential of the participating companies in both local and global markets.
At the end of the Demo Day event, the distinguished judges presented the awards to the winners. The Best Pitch Award was won by Aura, while the Best UAE Homegrown Business Award went to Mantas. The Most Impactful Business Award was awarded to Neuroblast.
The MBRIF Innovation Accelerator Program continues to position itself as a key enabler of entrepreneurship and innovation in the UAE, driving the growth of innovative startups across vital sectors in alignment with the UAE's National Innovation Strategy. The program provides its members with specialised mentorship, industry insights, and global networking opportunities to enhance their competitive capabilities and expand their businesses.
The Demo Day serves as a pivotal platform for startups to showcase their innovations to a select group of investors, offering them valuable exposure, funding opportunities, and the tools to accelerate their growth sustainably.
About the MBRIF:
The Mohammed bin Rashid Innovation Fund (MBRIF) is a federal initiative launched by the Ministry of Finance and is operated by Emirates Development Bank. Since its launch in 2016, the MBRIF has supported innovators through its first program, the Guarantee Scheme, which offers members access to affordable funding through a government-backed guarantee and without taking equity.
The MBRIF's second program, the MBRIF Accelerator, was launched in December 2018. Aligned with the UAE National Innovation Strategy, the initiative aims to enhance growth potential of innovative businesses shaping the future of UAE's economy. The MBRIF Accelerator offers world-class services and coaching to member companies to accelerate their business, elevate capabilities, unlock value and achieve scale.
Additionally, the MBRIF partners with the public and private sector to help facilitate growth, provide support, create opportunities and pave the way to success for its member companies in the UAE.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Khaleej Times
an hour ago
- Khaleej Times
As US joins Israel-Iran conflict, gold seen testing $3,450; GCC stocks coming under pressure
[Editor's Note: Follow our live blog for real-time updates on the latest developments in the Israel-Iran conflict.] Gold prices are expected to spike when markets open on Monday following the United States' entry into the Israel-Iran conflict, launching strikes on Iranian nuclear facilities. Analysts warn that UAE and other Gulf stock markets will likely come under pressure. However, the overall performance of commodities and equities will depend on how the conflict unfolds over the coming days. On Sunday, US President Donald Trump confirmed that American aircraft had struck three Iranian nuclear sites, marking a significant escalation in the Middle East. Gold prices closed at $3,368.09 per ounce on Friday, down 0.17 per cent. In Dubai, 24K and 22K gold ended the week at Dh406 and Dh376 per gram, respectively. 'Despite low liquidity, this move could be an early signal of how markets will react on Monday,' said Samer Hasn, senior market analyst at He stressed that commodity prices in the coming days will be shaped by how Iran responds to the US strike. Ahmad Assiri, research strategist at Pepperstone, added that heightened geopolitical tensions are reinforcing bullish sentiment for gold. 'I wouldn't be surprised if gold opens 1 to 1.5 per cent higher on Monday, potentially breaking above $3,400 and retesting last week's highs near $3,450,' he said. 'Further escalation or retaliation — especially if Iran or its proxies target strategic chokepoints like the Strait of Hormuz or the Strait of Mandeb — will likely keep gold well-supported at elevated levels.' UAE, GCC stocks While geopolitical risks will likely dampen short-term investor sentiment in the GCC, Assiri pointed out that rising oil prices could help offset the impact. 'Higher oil revenues often cycle back into local economies, supporting growth and softening the blow of geopolitical shocks. This acts as a natural hedge for GCC governments.' He also highlighted a divergence in market behavior across the region. 'The UAE market tends to align more with global trends, while the Saudi Tadawul Exchange is more responsive to local and geopolitical developments. When tensions rise, Saudi investors — many of whom keep significant liquidity on hand — often step in to buy, helping the market show surprising resilience.' He cited early April as an example when the Saudi market posted gains despite major tariff announcements. Samer Hasn warned that if rhetoric or actions targeting US bases in the region intensify, regional equities could face greater pressure, especially in countries more directly involved in or vulnerable to the conflict. Oil With the US now fully engaged, Ahmad Assiri said oil's baseline pricing has shifted to the mid-$80 range per barrel. 'We're moving from a regional conflict to a US-managed confrontation, which introduces a higher risk premium. There's also increased tail risk regarding the potential closure of the Strait of Hormuz. Even if Iran doesn't act, the perceived probability of disruption rising from 5 per cent to 15 per cent alone will create an upward premium in crude prices.' Brent and WTI crude closed the previous week at $77.01 and $73.84 per barrel, respectively. Prior to Israel's June 13 strike on Iran, Brent was trading below $70. Samer Hasn echoed expectations for an oil price rally. 'The escalation with direct US involvement is a significant turning point. If Iran retaliates by targeting oil infrastructure, it could trigger deeper US military involvement to prevent broader economic fallout,' he said. Hasn added that if such a scenario materializes, oil and gas prices may face sustained upward pressure, particularly around the Strait of Hormuz — a critical global shipping route. However, if no major developments occur soon, market attention may shift back to economic fundamentals.
Khaleej Times
an hour ago
- Khaleej Times
Emirates, Etihad, other UAE airlines extend flight suspension after US strikes Iran
[Editor's Note: Follow our live blog for real-time updates on the latest developments in the Israel-Iran conflict.] UAE airlines on Sunday announced an extension of flight suspensions to several regional destinations due to widespread airspace closures, following the United States' decision to join Israel in strikes on Iranian nuclear sites. Aviation experts warn that US involvement could escalate regional tensions, potentially leading to further disruption of air travel to destinations such as Syria, Iraq, Iran, Israel, Jordan, and others. In response, the UAE and other Gulf nations have voiced concern, urging restraint and de-escalation. Abu Dhabi-based Etihad Airways has suspended its flights to Tel Aviv until July 15 due to the ongoing military conflict. 'Guests transiting through Abu Dhabi on their way to cancelled destinations will not be accepted for travel from their point of origin. Affected passengers are being offered alternative travel arrangements,' said Etihad, the UAE's national airline. 'This remains a highly dynamic situation. Additional changes or disruptions — including sudden airspace closures — may occur at short notice. Etihad is closely monitoring developments in coordination with relevant authorities and is taking all necessary precautions,' the airline added. Separately, Etihad flight EY652 from Kuwait International Airport (KWI) to Abu Dhabi Zayed International Airport (AUH) was cancelled on Sunday due to a technical issue. Flydubai also announced the temporary suspension of flights to and from Iran, Iraq, Syria, Israel, and St. Petersburg until June 30, 2025. 'Passengers connecting through Dubai to any of the affected destinations will not be accepted for travel from their point of origin until further notice,' the airline said. It advised affected passengers to check rebooking options on its website and monitor their flight status regularly. 'Please note that some flights may also face delays or rerouting,' it added. Emirates, Dubai's flagship carrier, has temporarily suspended all flights to Iran (Tehran) and Iraq (Baghdad and Basra) until June 30, 2025. Sharjah-based budget carrier Air Arabia has also halted flights to and from Iran, Iraq, Russia, Armenia, Georgia, and Azerbaijan through the end of the month. Additionally, flights to Jordan are suspended until June 25, 2025, due to the ongoing regional tensions and airspace restrictions. 'Several other flights are being delayed or rerouted as a result. Passengers transiting through Sharjah or Abu Dhabi to any of the affected destinations will not be accepted for travel at their point of origin until further notice,' the airline said.
Khaleej Times
2 hours ago
- Khaleej Times
From GIFT to Singapore: How global hubs are shaping the new playbook
- Associate Partner, MICS Everyone has heard of the UAE's headline single digit nine per cent corporate tax rate. But what most people don't realise is that some of the world's biggest companies despite being based in high-tax jurisdictions, have consistently paid effective tax rates in the single digits, typically ranging from six to nine per cent. How is that even possible? One simple answer: Smart, strategic tax optimisation. So how did these companies structure themselves to achieve such outcomes? Is it still feasible in today's complex and constantly evolving global tax environment? And if so, how complicated is the playbook? Let's unfold the global tax game – and how building the right structure can be your winning move. Where it all begins: Structuring with purpose When companies set up operations, their primary considerations often revolve around ease of doing business, customer proximity, and market access. Surprisingly, tax is rarely the top factor at least initially. But not all functions in a company are tied to these operational dependencies. Some, like headquarters, treasury centres, intellectual property (IP) ownership, holding companies, and SPVs, can be located with greater flexibility. And when done right, these choices can be game-changers for both operational efficiency and tax savings. The big Fours: Holding companies, HQ, treasury, and IP Here's where strategy enters the game: • Holding company: Often used to centralise ownership of subsidiaries and assets, and to efficiently manage dividends, capital gains, and group-level financing. • Headquarters: Can be placed in jurisdictions that offer not only strategic access but also favourable tax regimes. • Treasury functions: Since these involve managing global cash flows and financing, tax and regulatory predictability matter more than physical proximity. • Intellectual Property (IP): IP holding companies are frequently located in countries that offer tax incentives on royalties and capital gains. Locating these functions in jurisdictions with stability, feasibility, predictability, and favorable tax treatment can significantly enhance the bottom line. Equally important are withholding tax (WHT) implications and the availability of double taxation avoidance agreements (DTAAs), which directly impact the tax efficiency of cross-border payments such as dividends, interest, and royalties. Jurisdictions with strong treaty networks often provide reduced or zero WHT rates, making them particularly attractive for housing holding companies, treasury hubs, and IP ownership. There are famous examples – Apple and Google, among others – who have reaped enormous tax benefits simply by strategically housing their IP in favourable jurisdictions. Top jurisdictions for strategic tax functions Each jurisdiction has carved its niche: • Singapore: A globally trusted IP hub offering attractive tax incentives for IP development and commercialisation. • GIFT City (India): Rapidly emerging as a preferred jurisdiction for treasury operations and regional headquarters due to its regulatory clarity and tax exemptions. • Ireland and Luxembourg: Historically favoured for IP and financing structures, though tightening global tax norms have nudged companies to reassess. • UAE: Supported by an extensive network of DTAAs and evolving tax infrastructure, it is gaining ground as a versatile base for several strategic functions. UAE: A strategic player in the evolving tax landscape With the introduction of its corporate tax regime in 2023, the UAE repositioned itself as a credible and competitive jurisdiction in the global tax planning ecosystem. Operating from a qualifying free zone can allow key functions – including HQ, treasury, holding companies, SPVs, and IP – to potentially benefit from a zero per cent corporate tax, subject to meeting substance and activity-based requirements. In addition, access to a growing network of DTAAs allows for potentially favorable withholding tax treatment, enhancing the efficiency of global structures. Rather than aiming to be a low-tax outlier, the UAE is adapting to global standards while still offering targeted advantages that businesses can leverage based on their specific needs. A final reflection In the modern tax environment, where compliance and optimisation must go hand in hand, no single jurisdiction offers a one-size-fits-all solution. Singapore continues to lead as a preferred jurisdiction at least of Asia, for IP and regional HQs due to its R&D incentives and robust legal framework. GIFT City is rapidly gaining ground with focused benefits for treasury operations and financial entities. Ireland and Luxembourg, while reassessing their frameworks post-BEPS, still retain relevance for certain financing and licensing models. The UAE, with its blend of flexibility, treaty access, and evolving infrastructure, is now a serious consideration for global tax planning. Ultimately, the winning move lies in aligning your operational footprint with a tax strategy tailored to your business's functions, risk profile, and growth vision.
