Dubai: Prizes of up to $10 million for ‘future solutions’ announced

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

A new scheme launched on Monday offers grand prizes of up to $10 million to those who develop solutions for the future.

Dubai Crown Prince Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum announced the ‘Dubai Future Solutions’ scheme on Monday.

Taking to Twitter, he said the programme would “motivate innovators, specialists, companies, research centres and universities to create new quality of life ideas for humanity”. This will be done by finding solutions to future challenges using “innovative technologies”.

“The Dubai Future Foundation presented a unique model in business accelerators and we will build on this by taking it global. We want Dubai to be the launching pad for the world’s creative ideas and for a future that guarantees the best quality of life and the highest success for humanity,” he tweeted.

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

>> Registration

>> Qualifying round one

>> Qualifying round 2 that will select the best three solutions

>> One winner is selected.

The website says that the solutions must be:

>> Industry-disrupting

A solution that is innovative and disruptive to current technologies.

>> Scalable, affordable, and reliable

A solution that can be scaled while also being cost-effective and reliable.

>> Specific and timely

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

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