The UAE continues to be strategically important and attractive to companies from all over the world. Being one of the most diversified economies in the Gulf Cooperation Council, the region is continuously making radical shifts towards an innovation led economy base. In a post-oil era, the region is achieving a whole new level of prosperity and excellence by making innovation a highlight of its strategic direction.
Innovation is the key to the region’s quest to build a business environment that supports economic growth and what better way to ensure this from the root levels than through the youth? Fresh University graduates or graduates who have entered the Emirati labour market are the ones who will be responsible for supporting the United Arab Emirates and particularly its economy. If they are allowed free reign to present their own unique ideas on a platform that can recognize and reward their talents, the sky is the limit to what future generations will be encouraged to achieve. This is part and parcel of Emiratisation efforts which aims to employ Emiratis and what they have to offer the nation as efficiently and as successfully as possible.
The award is aimed at encouraging organizations to adopt new processes and offerings that create more value, and motivate young Emirati employees to be imaginative and resourceful. The award will go a long way in inspiring growth and innovation in the business sector to help businesses improve their operational performance.
The innovation framework enables organizations to adopt and implement globally acclaimed best practices to ensure a holistic approach to innovation excellence. By supporting innovation excellence in different economic sectors, the award will enhance the ability of business communities to grow and expand in global and domestic markets. The award will foster a culture of innovation that drives breakthrough performance.
Besides enabling organizations to adopt and learn about best-in-class innovation cultures, underlying dynamics and processes, the award also provides a comprehensive report that outlines the key strengths of innovation, strengths, and areas of improvement, enabling organizations to monitor and document achievements and plan progress.
The award has contributed to the development of world class business culture in the region and created a high level competitive business environment that encourages trade, business development, and job creation, ultimately leading to sustainable growth of the Gulf Cooperation Council.