The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the Ministry of Finance to support the innovation and entrepreneurship ecosystem in the UAE, announced the provision of an AED 5.5 million credit guarantee to Enhance, a UAE-based fitness and technology scaleup.

UAE-based AI and geospatial intelligence company Stellaria has closed an AED 25 million Seed Round, backed by a group of angel investors.

MBRIF has signed a Memorandum of Understanding (MoU) with National Bonds, the UAE’s Sharia-compliant savings and investment company. The MoU aims to bring together the efforts of both parties to promote financial literacy, strengthen entrepreneurial thinking, and empower young people through the launch of impactful initiatives focused on education, capacity building and knowledge sharing across the UAE.

An initiative launched by the Ministry of Finance to support the innovation and entrepreneurship ecosystem in the UAE, has signed a partnership with Numou, a subsidiary of the international financial centre of Abu Dhabi, ADGM, to expand financing pathways for innovative businesses supported by MBRIF and further strengthen support for startups and high-potential companies across the country.

Ras Al Khaimah Economic Zone (RAKEZ) entered into a strategic partnership with the Mohammed bin Rashid Innovation Fund (MBRIF), a federal initiative launched by the Ministry of Finance, to strengthen support for innovators, startups, and growth-stage businesses within its ecosystem.

An initiative launched by the UAE Ministry of Finance to support the innovation ecosystem in the UAE, has announced a credit guarantee of AED 1.5 million for 01Gov, an Emirati GovTech startup. The guarantee will accelerate the growth of 01Gov’s proprietary AI-powered platform, reinforcing the UAE’s agenda to lead the world in government development and excellence.

Quiqup, a UAE-based innovative e-commerce logistics provider, has launched Shop Local, a new initiative designed to help consumers discover and support local businesses across the UAE, while giving SMEs greater visibility and easier access to customers through a dedicated online platform.

The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance to support the innovation and entrepreneurship ecosystem in the UAE, today announced the provision of an AED7.2 million credit guarantee to Fragrance Delivery Technologies (FDT), a company specializing in technological innovation. This guarantee will enable the Dubai-based company to upgrade its Jebel Ali Free Zone (JAFZA) facility with state-of-the-art automation, accelerating its alignment with Industry 4.0 standards, thereby supporting the advanced manufacturing sector in the UAE.

The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the Ministry of Finance to support the UAE’s innovation and entrepreneurship ecosystem, has revealed growing demand for eco-friendly packaging solutions in the UAE offered by Avani Eco Middle East, a member of the Mohammed Bin Rashid Innovation Fund (MBRIF) Guarantee Scheme.
MBRIF noted that demand for these solutions is growing at an annual rate of between 25 and 30 per cent, driven by businesses’ response to the gradual restrictions imposed on single-use plastic materials.