Dubai: Royal Philips and Dubai Economic Council (DEC) on Tuesday signed a memorandum of understanding (MoU) to provide a framework for further developing innovation across Dubai in the areas of healthcare and energy efficiency.
The MoU will see DEC and Philips develop a series of strategic initiatives designed to encourage the adoption of open-innovation strategies between businesses and government and will also launch a university competition designed to increase the awareness of the importance of innovation among UAE’s future leaders.
Philips has aggressively been driving its innovation thrust in the region. The move comes shortly after the company signed a similar MoU last year with Dubai Municipality to retrofit 262 government buildings in Dubai with LED lighting, saving 60 per cent of energy and 90 per cent of maintenance.
“So, these are the ways that Philips can contribute to improving society through meaningful innovation,” Frans Van Houten, CEO of Royal Philips, told Gulf News.
Tuesday’s agreement, signed by Hani Al Hamli, DEC Secretary General, and Royal Philips’ Van Houten, was developed under the theme of ‘Spirit of Innovation’.
“The aim is to foster economic growth in the UAE,” Al Hamli said. “We chose Philips as we found it to be the most inspired company to drive innovation in the UAE.”
Van Houten added: “The new partnership with Dubai Economic Council is one of importance for both Philips and the Council as we together create a platform to further develop innovation in healthcare and energy efficiency as a driver of economic growth in the UAE.”
Further commenting on the UAE’s bid for World Expo 2020, Van Houten said it is a good vision that Dubai has to organise the Expo 2020. Asked how Philips would be leveraging its expertise in the country’s bid for the Expo, he said: “Philips would love to offer its knowledge in innovation to make it a great success. We have a regional hub here in Dubai and we are investing in healthcare technology and education in this region.”