Dubai: Sheikh Hamdan announces prizes of up to $10 million for ‘future solutions’

Dubai - We want Dubai to be the launching pad for the world’s creative ideas, says Crown Prince

A new scheme launched in Dubai on Monday offers grand prizes of up to $10 million for innovative solutions for the future.

The Dubai Future Solutions — a global initiative — features a series of challenges that will bring together scientists, designers, inventors, universities, research centres, companies and startups from around the world to create innovative solutions for improving people’s lives.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum said: “The scheme aims to accelerate the implementation of emerging technologies in designing the future.

“Dubai always has been and continues to be a place that nurtures innovation, and we seek to constantly explore ways to further enhance the Emirate's position on the global innovation map.”

He stressed that the Emirate is committed to empower and support talent with the resources needed to transform their ideas into “global success stories”.

“The world of technology and innovation is growing at a tremendous speed, and we want to be among the pioneers of future industries. We are always ready to leverage new opportunities and deal with any challenges that the evolving world of technology may bring.”

The initiative offers a platform for innovators to showcase their ideas for solving some of the world’s critical challenges.

With a focus on energy, transportation, health, education, AI and data, the initiative allows innovators to test their pioneering ideas.

Funding for successful projects

The successful ideas will be a “starting point” for creating new sectors, economies and markets. The teams will develop sustainable solutions that serve humanity, and build global partnerships based on the exchange of experience and knowledge transfer.

First round: Efficient batteries

The first challenge is to build extreme weatherproof batteries. Teams from around the world will compete to try to improve the performance and durability of batteries in harsh weather. This will boost their use in sectors like space or oil and gas.

“The challenge responds to the world’s increasing dependence on batteries, whether in drones, portable devices, electric cars or spacecraft. Companies and research centres across the globe are racing to develop cheaper, denser, lighter and more powerful batteries,” the Dubai Future Foundation said.

Selection committee and how to register

A special committee comprising experts in various sectors will evaluate the entries. Judging criteria include quality, scalability for development and practical application, economic feasibility and adaptability to changing requirements.

Participants can submit their ideas online at www.dubaifuture.ae/dubai-future-solutions. The proposed solutions must be “efficient, cost-effective, versatile and ready for immediate implementation”.

According to the Dubai Future Foundation website, the scheme will feature the following stages:

A solution that achieves specific technical objectives and with timely delivery.