In this firs-of-its-kind Index, Dubai has scored well on several enablers, namely “Government support” and “building the culture of innovation”, and scored average on “funding” and “political, economic and social environment” elements. However, lower scores for “infrastructure for innovation” and “skills & talent” suggest these areas require improvement.
The Index, which measures innovation within the 61 indicators, shows Dubai’s superiority in the field of output and performance, particularly in the launch of new products and services and outputs of technology. However, intellectual property and opportunities for collaboration with institutions and economies for scientific work need some more attention.
Survey results of Dubai’s private sector indicate that “implementation of ideas” and “retention of talent” are key challenges to build innovation capabilities and lead to a low score for “intellectual capital”
The analysis also highlighted the important role being played by the government in driving the innovation agenda forward and having a long-term vision – something the private sector needs to focus on and work closely with the public sector.
The Healthcare industry leads innovation for private sector industries, with an innovation score of 60.25, followed closely by Media & Marketing (60.06) and ICT (59.29). Manufacturing, Education, Training & Research and Transport & Logistics have scored average on the innovation index relative to the other industries, whereas Construction & Real Estate, Financial, Insurance & Legal Services and Agriculture, Fishing & Forestry score amongst the low performing industries in innovation.
With a focus on these eight key sectors the Index will definitely stimulate the private sector and inspire them to participate in Dubai’s innovation initiatives to remain ahead of the rest.
