MoF Announces Hackathon Creativity Challenge Winners

The Ministry of Finance (MoF) has announced the winners of the Hackathon Creativity Challenge. The challenge saw participating entrepreneurs, as well as Mohammed Bin Rashid Innovation Fund (MBRIF) cohorts as part of 10 teams, that competed for the most innovative ideas and solutions. The announcement took place on the second and final day of the ministry’s MoF Innovates 2020 event at Etihad Museum in Dubai.

H.E. Younis Haji El Khoori, Undersecretary of MoF, commended the participants, noting that they exemplify what needs to be done to spur innovation.

H.E. said: “Through MBRIF, the Ministry of Finance will continue to support emerging entrepreneurs in seven key sectors by financing and assisting them to enable them to achieve greater success. The ministry is also committed to creating an environment that encourages innovation and creativity. This will further help attract global talent and support efforts to build a sustainable, knowledge-based national economy which puts the UAE at the forefront of innovation globally, as well as among the ranks of the most innovative governments worldwide by 2021.”

The winners of the challenge, teams Addenda and HoloGuide, gave an innovative presentation on a database to protect the intellectual rights of the Arab world through blockchain technology.

The last day of the event also included an interactive workshop on Government Creativity, which was presented by the former Swedish Prime Minister John Fredrik Reinfeldt, and saw participation from public and private sector representatives.

The former Swedish Prime Minister John Fredrik Reinfeldt delivered a keynote speech on his views on solutions that were put forward from the perspective of the Global Innovation Index, and how countries can stimulate their creativity.

A workshop titled Creative Innovators of the UAE also took place, where noted entrepreneurs and distinguished business leaders discussed their creative process and their innovation journey.

The MBRIF received 575 applications from 53 countries around the world, and provided guarantees of AED 15 million. The support provided by the accelerator of the fund contributed AED 61 million to help members obtain financing for their projects.