Dubai ranked as one of the world's most innovative cities

Posted: 27-Oct-16 12:05

The recently released Dubai Innovation Index ranks Dubai at 16th among the world’s 28 most innovative cities. According to the index, Dubai registered an innovation rate of 39.14%, with its government scoring above average. The report was released by the Dubai Chamber of Commerce, with a second edition forthcoming in November of 2017.

Dubai ranked as one of the world's most innovative cities

Dubai now ranks 16th among 28 international cities in terms of innovation and creativity, according to the Dubai Innovation Index. The Innovation Index was introduced last year by the Dubai Chamber of Commerce as part of its strategy to encourage innovation in the private sector.

The index ranked 28 global cities which are considered the most prominent cities in terms of innovation and creativity. The rankings were developed in cooperation with the audit and consultancy firm, PricewaterhouseCoopers, and was based on international standards. The report compares a number of innovative cities around the globe and outlines comparison and recommendations.

Dubai scored above average in the field of Government, which indicates that Dubai’s government is instrumental in encouraging innovation. The report also stated that intellectual property and opportunities for collaboration with institutions are areas that could be improved upon.

The report revealed that Dubai’s medical care, media, marketing, IT, and retail industrial sectors are its most innovative fields, while professional services, fisheries, construction and energy sectors were shown to be the least innovative.

In the year since the index was launched, numerous initiatives have been launched in Dubai, including the Dubai Innovation Fund, the Ministry of Happiness, the Dubai Innovation Labs, Dubai Innovation Week, and the Sheikh Mohammed bin Rashid Al Maktoum Fund to Finance Innovation.

Hamad Bu Amim, president of the Dubai Chamber of Commerce, stated that:

"...the index helps the government to identify sectors which excel in innovation, as well as those which need additional support to grow their innovation strategy."

He also stated that:

"...the chamber is working diligently to create a culture of innovation in Dubai’s business environment."

The president went on to say that Dubai’s Innovation Index was the first such index in the world to assess innovation in an emerging economy.

Famous throughout the world for its innovative architecture, such as the Burj Khalifa, and its man-made islands, Dubai has evolved in a relatively short period of time from a small fishing village to a world-class, modern city. Dubai was the first city to launch an ambitious initiative to become one of the world’s most innovative cities

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