H.E. Nahayan Bin Mabarak: The United Arab Emirates strongly focus on the relationship between innovation and a successful economy.

Hussein Jassim Al Nowais:  The Funding by Khalifa Fund has reached 941 million dirhams, as we continue our endeavors in achieving a strong business environment.

Abu Dhabi, 19 March, 2014 – His Excellency Sheikh Nahayan bin Mabarak Al Nahayan, Minister of Culture, Youth and Community Development inaugurated the 10th Annual Forum and Meeting of the International Network for Small and Medium Enterprises (INSME) organized by the Khalifa Fund for Enterprise Development, Which took place at Yas Marina Circuit, Abu Dhabi under the theme “Investing In Innovation: Building a Sustainable Knowledge-based Economy.”

H.E. Sheikh Nahayan bin Mabarak Al Nahayan welcomed the attendees  and stated in his opening speech: “This forum highlights, in an intensive manner, the success between ideas and knowledge and the initiative to convert these ideas and knowledge into practical applications leading to a successful business. The Forum focuses primarily on the role of creativity, achieving economic growth, education and training in preparation for new generations to enable them to contribute to the economy by providing a national regional and global environment.”
H.E. Sheikh Nahayan added, “This forum comes in line with the United Arab Emirates (UAE) vision with the principles and goals of economic and social development, under the wise leadership, of His Highness, Sheikh Khalifa Bin Zayed Al Nahyan, the President of the State, may God protect him,  by providing support to all possible opportunities to contribute in all economic activities. The Forum also reflects the role of His Highness Sheikh Mohammed bin Zayed Al Nahyan, Abu Dhabi Crown Prince and Deputy Supreme Commander of the armed forces, as it highlights the enlightened and rational vision, creativity and innovation of the State that will encourage Emiratis to establish their business and institutions since this is the surest path to achieve a sustainable economic development in the country”

H.E. also stressed that the UAE recognizes the importance of regional and international cooperation, through the exchange of experiences and know-how in order to achieve wealth, where H.E. stated:” We as a nation recognize the importance of acquiring knowledge as a natural progression for role over the years as an international cultural and economic hub.
We recognize quiet well that innovation, courage, flexibility and the ability to plan, to acquire knowledge, being ethically committed, having the maturity,  as well as communicating with stakeholders  and being persistent are all essential elements in realizing a successful competitive market. 
H.E. emphasized on that the UAE is known for its strong vision , stating ” I would like to highlight the UAE’s unique characteristics including the relationship between innovation and creativity on one side and successful and free business approach on the other. We recognize that a knowledge-based economy does not only rely on technology but also consists of: using knowledge to improve the standards of living and maximize productivity in all sectors including but not limited to agriculture, manufacturing and services.
After his speech, His Excellency inaugurated the exhibition which showcased projects funded by Khalifa Fund, thus providing real examples of successful business pioneers in the United Arab Emirates.

H.E. Hussein Jassim Al Nowais, Chairman of Khalifa Fund for Enterprise Development conveyed his deep appreciation of the Fund’s choice of Abu Dhabi city to serve as a host for the tenth annual forum and meeting of the International Network for Small and Medium Enterprises; pointing out that the essence of entrepreneurship is innovation and experimentation, and learning from the experiences of others, which is exactly what such an event provides for young UAE investors.

On the role of the Fund, Nowais said: "I have always been invested in discovering and developing a generation with high capacities in UAE in general, and Abu Dhabi in particular, that would contribute to the strengthening and diversifying the sustainable economy of the state. The substantial subsidies given to the sector of small and medium enterprises in the country were paid off and has succeeded in the development of this sector in a short time where it provides 86% of jobs and contributes to about 60 % of GDP."

Regarding the role played by Khalifa Fund during his career, Nowais stated: "I came to the establishment of the Khalifa Fund for Enterprise Development to be an effective tool in investigating and providing data for the three elements that I mentioned. The Fund has managed to spread the culture of entrepreneurship and encourage the various sectors of society to embrace the concepts of creativity, excellence and innovation and through organizing 375 specialized training courses, which benefited about 5,300 UAE nationals. In the area of finance Khalifa Fund for Enterprise Development has been able to bridge part of the gap in funding for this vital sector, where it presented - since its inception - funds that amount to 941 million dirhams and that have benefited more than 670 pioneering UAE entrepreneurs, where third of them were women.”

On the other hand, Nowais touched upon the obstacles faced by young entrepreneurs during his speech to, stressing the need for unity to overcome them through all means of support and assistance, where he said: " At the level of support and support the Khalifa Fund is making great efforts to create a business environment suitable to ensure the growth and development and sustainability of small and medium enterprises that fall under its umbrella, by providing a array of facilities, as a result of the signing of more than 40 agreements and memoranda of understanding, that all aimed to enhance the competitiveness of enterprises and improve its performance in order to ensure its success and raise their contribution to the performance of the national economy. Moreover, the Ministry of Economy had prepared a modern law to encourage the development of the small and medium enterprises sector and to promote the policy of economic diversification.”

In reference to the steps established by Khalifa Fund to develop projects for the future, Nowais said that in the field of training, the Fund along with many educational institutions, organizations and universities, have pumped huge investments into the development of human capital and the creation of a generation of young people who depend on an approach of excellence as a daily conduct. This is possible by providing specialized training programs designed to promote the concept of leadership, creativity and innovation, and develop the capacity of entrepreneurs and enable them to hone their expertise to effectively contribute to the process of sustainable development that is taking place in the United Arab Emirates.

The opening ceremony witnessed a speech by Mr. Andrea Di Anselmo, president of the International Network for Small and Medium Enterprises (INSME), where he asserted: "It is a great honor to hold the tenth annual meeting and forum of the International Network for Small and Medium Enterprises in the Emirate of Abu Dhabi, which is witness to promising indicators of a bright future as a center of investments at various levels, and where initiatives and innovative minds are appreciated and valued. It is of our concerns to be are present here to learn and to communicate and share our experiences, " stressing that technology, innovation and entrepreneurship is a well-placed bet which we can profit from in the future, and they are also the essence of the work of the International Network, which promotes the slogan “Let's make innovation possible through small and medium enterprises. "

CEO & co-founder of Virgin Unite Mentors, Mark Thompson, stated that: “Events such as the 10th INSME Annual Meeting and Forum gives an invaluable experience to all SMEs and investors who are passionate about their business ideas and enterprises and need guidance on how to build their dream project into a thriving business model. The key to building a successful enterprise starts with investing in right talent. “Who before What” is a mantra that should always guide you at every step of the way”
The Tenth Annual Forum and Meeting of International Network for SMEs was launched following the opening and welcome note where it launched discussions on the first day of the roundtable discussions under multiple addresses such as " Supporting Comprehensive Regional Innovation Systems: finding solutions to the challenges and to encourage entrepreneurship through the Global Innovation Platform (GIP)," in which Andrea Di Anselmo head of the network was a speaker, and was managed by Mary Florence Astimah, former vice president of the Organization of Economic Cooperation and Development. In addition, another roundtable debate convened and was entitled “Addressing the needs of entrepreneurs through electronic knowledge platforms," where it included a discussion by Dr. Sharif Abdul Wahhab, Chief Executive Officer of the National Institute of Entrepreneurship (Riyadah), in the Kingdom of Saudi Arabia.

The sessions grabbed at issues related to investing in small and medium enterprises and the challenges faced by young people, in funding or implementation or the possibility of continuation, including a session titled: " Governance to support entrepreneurship and economic development - Visions of India " and a session titled " Entrepreneurship as a key driver for innovation” and also a dialogue session entitled " How to be Motivated by Challenges to Beget Innovation.” The Forum also included testimony from world experts on entrepreneurship, as well as training courses for entrepreneurs in the UAE and an exhibition of models of the projects funded by Khalifa Fund.