CAMBRIDGE, England and DUBAI, United Arab Emirates – 29 April 2019 –The Mohammed bin Rashid Initiative for Global Prosperity (the Global Prosperity Initiative), an initiative of the Global Manufacturing and Industrialisation Summit (GMIS), signs partnership with the University of Cambridge’s Institute for Manufacturing (IfM) at the UK-UAE Business Council in London.
With monetary prizes, mentorship, and access to global organisations, worth up to US$1 million, the Mohammed bin Rashid Initiative for Global Prosperity brings together a community of ‘makers’ to tackle some of the world’s toughest societal problems that affect over 1 billion people globally. In alignment with the United Nations Sustainable Development Goals, the Global Prosperity Initiative aims to empower entrepreneurs, innovators and technologists to drive social innovation and promote global good.
The Mohammed bin Rashid Initiative for Global Prosperity combines the Global Maker Challenge, an online open-innovation platform designed to promote and accelerate global prosperity through product innovation; and the Global Prosperity Award, a prestigious global accolade that recognizes and rewards corporate social responsibility that advances resilience, community, harmony and dignity across the world.
The Global Maker Challenge consists of four challenges, each targeting a specific global issue which global organizations can adopt as part of their corporate social responsibility. The four challenges were determined in partnership with eight UN agencies and, so far, over 1,100 submissions have poured in from 83 countries, with strong participation from Least Developed Countries (LDCs) such as Uganda, Laos, Sudan, and Congo.
Each of the winning solutions to the four challenges will be presented to a panel of international experts brought together by the University of Cambridge IfM to demonstrate its socio-economic impact and its contribution to advancing one or more of the United Nation’s Sustainable Development Goals (SDGs). The panel will then determine the solution with the greatest socio-economic impact in order for its adopting organization to qualify for Sheikh Mohammed bin Rashid’s Global Prosperity Award as a recognition of its corporate social responsibility.
Badr Al-Olama, Head of the Organising Committee for the Global Manufacturing and Industrialisation Summit (GMIS), said: “The University of Cambridge has a long history of innovation in the fields of science and technology that has contributed immensely to society, a goal which is at the heart of the Mohammed bin Rashid Initiative for Global Prosperity. Our platform has already inspired innovators from all corners of the world to come forward and solve issues that we face together, whether that be in bridging the digital divide or eliminating hunger. Through our cooperation with the University of Cambridge, and our partnerships with global organisations, we can also encourage greater corporate social responsibility through the adoption of these solutions and promote global good through the international business community.”
Tim Minshall, Dr John C Taylor Professor of Innovation & Head of the Institute for Manufacturing, said: “The Institute for Manufacturing are pleased to be part of this initiative which highlights the importance of taking innovative approaches to solving real-world problems. We are looking forward to hearing from innovators whose novel ideas have the potential to make a positive and lasting impact on global prosperity.”
The Mohammed bin Rashid Initiative for Global Prosperity was first launched by His Highness Sheikh Mohamed bin Zayed Al-Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, during the inaugural Global Manufacturing and Industrialisation Summit, held at the Paris-Sorbonne University Abu Dhabi in March 2017.
