The Ministry announced that Abu Dhabi has pledged nearly AED 5.6 billion ($1.52 billion) to support research and development revolving around water scarcity and food security.
In a tweet, Sheikh Mohamed said that the government has “directed the executive committee to form global partnerships that seek innovative solutions in these vital areas.”
The partnership between Abu Dhabi Executive Office and XPrize Foundation has been signed to boost Abu Dhabi’s R&D over the future years.
The plans call for two or three XPrize competitions every year, with registrations to open shortly in the second half of the year. Competition standouts will also be offered an opportunity to work at Hub71, Abu Dhabi’s new hub for tech start-ups.
The funds for XPrize competitions is being allotted from Ghadan 21 government reform initiative stimulus to diversify the economy and boost the industrial growth of Abu Dhabi.
Food security has been identified as the biggest challenge in the future UAE as it imports 90% of its food, thereby hopes to boost local food production by 40 percent.