Mohammed Bin Rashid Fund Unveils Innovation Hub In Dubai

The Mohammed Bin Rashid Innovation Fund (MBRIF), a UAE Ministry of Finance initiative that’s aimed at strengthening the national innovation ecosystem and operated by the Emirates Development Bank (EDB), has opened its new headquarters in Dubai.  

The new hub, which is located in One Central at the Dubai World Trade Centre, is centered on boosting government innovation, fostering knowledge exchange, and enhancing collaboration between entrepreneurs, innovators, and key partners.  

Under the theme “Innovation for a Better Life,” the headquarters’ launch welcomed HE Mohamed bin Hadi Al Hussaini, UAE Minister of State for Financial Affairs, along with senior officials, committee members, and partners.  

In a statement, Al Hussaini said, “The launch of MBRIF’s new headquarters is a qualitative leap in strengthening the institutional infrastructure that supports the UAE’s innovation ecosystem. It reflects our commitment to translating strategic plans into tangible initiatives that accelerate sustainable economic development. The new space is designed to be an integrated platform that brings together innovators, investors, and experts in an environment conducive to pioneering future-ready solutions.”  

He continued, “Innovation is no longer an optional development tool—it is a strategic imperative for boosting the competitiveness of our national economy. Through this Fund, we are working to empower entrepreneurs and innovators by equipping them with the tools and resources to transform their ideas into scalable business models, reinforcing the UAE’s position as a global innovation hub.”

Since its launch in 2016, the MBRIF has attracted applications from innovators across 89 countries and has supported more than 170 startups, offering funding, mentorship, and business growth support. It has also issued over AED43 million (US$11.7 million) in government-backed guarantees to support the growth of its members, with this backing helping MBRIF-supported startups secure more than AED2.8 billion ($762 million) in financing and generate over 800 jobs in the UAE. 

Image courtesy MBRIF.

Guests at the new MBRIF headquarters got to witness live demos highlighting MBRIF’s real-world impact and explored innovation aligned with the UAE’s National Innovation Strategy. The celebration also featured a special interactive artwork by Emirati artist Abdulla Lutfi that incorporated augmented reality (AR) technology.  

Delivering remarks at the event, HE Younis Haji AlKhoori, Undersecretary of the UAE Ministry of Finance, added, “Our wise leadership has set clear objectives to create an enabling environment for innovation—through the right regulatory frameworks, comprehensive support services, robust infrastructure, and investment access. The Mohammed Bin Rashid Innovation Fund plays a vital role in realizing this vision by fostering a strong ecosystem for high-growth startups and contributing to job creation in the UAE. The new headquarters launch marks a fresh step in advancing this mission—offering a dynamic space for innovators to collaborate, learn, and fuel the knowledge economy.”   

EDB CEO HE Ahmed Mohamed Al Naqbi added, “The launch of the new headquarters marks a pivotal milestone for the Fund. Our mission is to empower promising entrepreneurs and provide them with the support and expertise to transform their ideas into real-world solutions. The space has been designed as an interactive platform that brings together entrepreneurs, innovators, and investors—driving impactful partnerships and sustainable economic progress.”  

Pictured in the lead image is from the Mohammed Bin Rashid Innovation Fund (MBRIF) launching event. Courtesy of Mohammed Bin Rashid Innovation Fund (MBRIF).