For COP28, we had a conversation with the team at the Mohammed bin Rashid Innovation Fund (MBRIF), which is at the forefront of fostering innovation to combat climate change. The team discusses MBRIF’s approach to sustainability, their best practices for addressing the climate crisis, stakeholder engagement strategies, and the promising climate technologies supported by their initiatives.
How is MBRIF approaching climate change?
MBRIF believes Innovation is key to tackling climate change. It takes a unique approach to climate change by giving sustainability a prominent place among the 7 focus areas when selecting new members for its Accelerator and Guarantee Scheme programs, demonstrating a commitment to fostering innovative solutions for environmental challenges. Once selected for our programs, MBRIF provides the necessary support to innovators to grow and scale. We also promote a culture of Innovation more generally in the UAE, working with youth and students through our outreach programs such as the University Entrepreneurship Program.
What is MBRIF’s top best practice to solve the climate crisis?
One highly effective best practice, we have observed through our members, to address the climate crisis is transitioning primary energy sources to clean and renewable alternatives, thereby reducing reliance on fossil fuels. Embracing technologies like solar power plays a pivotal role in this shift. Eco-visionaries supported by MBRIF such as: Wahaj Solar, which is developing low-cost Concentrated Solar Power systems (CSPs); Desolenator, which is developing innovative solar thermal desalination technology; and Maana Electric, which is enabling locally produced clean energy infrastructure, are all contributing significantly to the development and implementation of sustainable solutions. This approach aligns with the urgent need to mitigate climate change by fostering innovation and entrepreneurship in the renewable energy domain.
How is MBRIF engaging local stakeholders in your climate actions?
MBRIF actively engages local stakeholders in climate actions. An example of this is our collaboration with MBRCGI on Pitch@Gov. We have launched challenges with the RTA to address some of their most pressing concerns, and we have recently launched a challenge with MOCCAE asking innovators to pitch new innovations to address Energy Transmission and Decarbonization as well as waste segregation to help divert waste away from landfills in the UAE.
What climate technology does MBRIF find promising to address climate change?
Sustainable climate technologies that reduce fossil fuel consumption are crucial to addressing climate change. MBRIF focuses on empowering a range of innovative technologies that have a high potential to combat climate change. Some of our members include Fortyguard, which uses AI to cool outdoor event spaces, Mruna, which uses IoT to disrupt wastewater treatment practices and Alesca, which makes agriculture more efficient and accessible.
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