Sharjah, October 23, 2019 - Sharjah Research, Technology and Innovation Park (SRTI Park) has signed a Memorandum of Understanding (MoU) with Abu Dhabi Future Energy Company (Masdar) to collaborate and coordinate in a number of areas related to the future of knowledge economy and to study the implementation of joint initiatives and projects that contribute to the UAE's innovation ecosystem.
The MoU was signed by Hussain Al Mahmoudi, CEO of SRTI Park, and Yousef Baselaib, executive director of Sustainable Urban Development at Masdar. The two parties will explore areas of cooperation to promote the growth of the various technology sectors under the park's six focus areas: Water Technology; Digitization; Transport and Logistics; Environmental Technology; Renewable Technology; Production, Design and Architecture, in addition to support the development expertise business in these areas.
Under the memorandum, the two parties will work to develop a general framework for strategic cooperation between the parties and to benefit from expertise in all relevant areas. The two parties will also cooperate in the study and implementation of joint projects and initiatives that contribute to the promotion of research and development of the UAE in all its segments.
"This MoU will certainly support SRTI Park as well as Masdar to enable them to achieve their goals through joint cooperation in a number of critical areas that are fundamental to the future of the UAE's knowledge economy," said Hussain Al Mahmoudi. "This cooperation is a source that SRTI Park's strategy and vision is to become a regional development center for future science and innovative technologies by creating an environment suitable for research and development and through a package of accelerators in cooperation with the private, public investment sector and the academic sector. This memorandum comes as a result of cooperation and coordination between the various government sectors in the UAE through a common vision that we seek to achieve through a package of initiatives and actions that we undertake to transfer and localize technology and promote a knowledge-based economy in Sharjah and the UAE."
SRTI Park's vision is to develop and manage an innovation ecosystem that promotes Research and Development and supports enterprise activities and the triple helix collaboration of industry, government, and academia. It provides an environment conducive to innovation and creativity by creating an attractive and sustainable Park with integrated infrastructure and services to transfer and localize knowledge and support, encourage and develop an innovation system to enhance the status of the UAE as a global destination in the fields of research and technology and to encourage investment.