Summit to discuss the future of innovation in the MENA region

The MITT Summit 2022 assumes huge significance as the Middle East has become the world’s fastest growing market in business and technology transfer.

A galaxy of business leaders, innovators and techies will take the centre-stage at the 3rd Middle East Innovation and Technology Transfer (MITT) Summit, the region’s biggest specialized event in technology transfer and innovation, to be held at the SRTI Park, Sharjah, on October 13.

Leading experts from the region and across the globe will discuss how to best shape the future of innovation while creating sustainable impact, in line with the UN’s Sustainable Development Goals, covering topics like Water Technology, Renewable Energy, Environmental Technology, Digitization, Industrial Design 4.0 , and Mobility and Smart Cities.

The participants in the one-day summit will include R&D institutions, technology transfer experts, global investors, government and private sector representatives, entrepreneurs and academics and other stakeholders, presenting an immersive experience of knowledge sharing, business showcasing and networking in an intimate setting.

The summit comes at a time when the world is witnessing the fourth industrial revolution characterized by the penetration of emerging technology in a number of fields, including robotics, artificial intelligence, nanotechnology, biotechnology, the Internet of Things (IoT), 3D printing and autonomous vehicles.

Hussain Al Mahmoudi, CEO of the Sharjah Research, Technology and Innovation Park, said: “The MITT Summit 2022 assumes huge significance as the Middle East has become the world’s fastest growing market in business and technology transfer. As proven globally, the knowledge and technology transfer model has been responsible for rapid advancements in every field. By bringing together global experts and highlighting the role of academic institutions in R&D, the MITT Summit serves as a perfect platform for ramping up technology transfer trends in the region.”

The summit will discuss patterns of technology transfer in the Middle East and North Africa region, existing opportunities as well as challenges, and tips on how to achieve set goals and use knowledge sharing to boost the region’s economic growth and long-term stability.

Technology transfer has been the main driver of global economic growth over the last 40 years. Companies are increasingly relying on open innovation to develop intellectual property (IP) more quickly and economically, to stay ahead of competition. Universities, research organizations and SMEs play a crucial role in supplying intellectual property, and supporting research that will build the innovations of tomorrow.

Many countries around the world have passed their own national legislations and policies to spur innovation. The UAE issued its own National Innovation Strategy in 2014, which seeks to make the country the region’s top innovation hub by developing the right regulatory framework, infrastructure and ensuring availability of investment.

The Sharjah Research, Technology and Innovation Park (SRTI Park) has recently launched Sharjah Advanced Industry Accelerator 2.0 (SAIA) to boost the diversification of the national industrial base and contribute to the positioning of the UAE as an incubator of innovation and creativity In line with Industry 4.0, the accelerator program will provide local and regional start-ups with innovative solutions and a strong support system within the thriving SRTI Park ecosystem.

SAIA 2.0 is also in line with the UAE’s industrial strategy ‘Operation 300bn’, a 10-year comprehensive policy aimed at empowering and expanding the industrial sector to become the driving force of a sustainable national economy, increasing its contribution to the GDP.

Hussain Al Mahmoudi, CEO of SRTI Park, said, “SAIA will focus on supporting early and growth stage start-ups to scale up in the UAE and MENA region, thereby further supporting UAE’s goal to attract world-class talent and innovation. SAIA is also in line with UAE’s Unified Industrial Brand Identity, ‘Make It in the Emirates’, an integrated industrial system that leverages advanced technologies and Fourth Industrial Revolution solutions to contribute to building a sustainable, knowledge-based economy.”

SAIA 2.0 will transform Sharjah into a test bed of advanced technologies in research, manufacturing sector, including petrochemicals, plastics, metals, food, agriculture, water, and healthcare, space, biotech, medi-tech, pharmaceuticals, clean and renewable energy, including hydrogen production, machinery and equipment, rubber and plastic and electronics and electrical gadgets. It is also a part of the endeavors aimed at setting up the pillars of the UAE Strategy of Industrial Transaction and Transformation.

Al Mahmoudi noted, “SAIA 2.0 will result in limitless potential for growth and establish local start-ups as an integral part of the UAE’s unique success story and a key contributor to the country’s development journey. The accelerator program reflects the vision of HH Dr. Sheikh Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, to position the UAE as a global industrial hub by focusing primarily on future industries that implement advanced technology and the 4th Industrial Revolution solutions and technology.”

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