Partnership between "Stand up" And the Mohammed bin Rashid Innovation Fund to support innovative companies

Ras Al Khaimah, June 10 / WAM / The Ras Al Khaimah Economic Zones Authority (RAKZ) has concluded a strategic partnership with the Mohammed bin Rashid Innovation Fund, the initiative launched by the Ministry of Finance to support the innovation and entrepreneurship system in the country.

The agreement was signed at the Compass Business Center by Shaker Zainal, Director of the Mohammed bin Rashid Innovation Fund, and Yasser Abdullah Al-Ahmad, Head of the Corporate and Government Communications Sector at RAKEZ. This cooperation reflects a joint commitment to supporting innovative companies by facilitating their access to financing, linking them to a system that supports growth, and providing opportunities that help them expand and enhance their presence in the markets in the long term.

Through this cooperation, RAKEZ clients will have access to a wider range of support services designed to accelerate business growth, including financing channels and financial support options provided by the Mohammed bin Rashid Innovation Fund, in addition to structured guidance and specialized consultations that help innovative companies enhance their business models and expand more efficiently.

The partnership provides access to joint workshops and innovation programs focusing on practical areas including growth strategies, financial planning, and market expansion.

These services are accompanied by RAKEZ’s simplified procedures for establishing businesses, issuing licenses, and operational support, in addition to providing access to a broader system of partners, investors, and business networks. Together, these elements aim to help companies launch, grow and expand with greater confidence, supporting the achievement of sustainable results with a tangible impact.

Fatima Yousef Al Naqbi, Acting Assistant Undersecretary for the Support Services Sector and representative of the Ministry of Finance in the Mohammed bin Rashid Innovation Fund, said that the Fund continues to play an effective role in strengthening the innovation system in the UAE and supporting the national vision aimed at building a competitive knowledge-based economy, pointing out that such partnerships contribute to expanding the scope of support available to innovative companies, by enhancing access to financing, providing strategic guidance, and providing more effective growth paths.

She added that continued cooperation between various parties within the innovation system constitutes an essential factor in creating an environment that enables promising companies to expand, contributes to diversifying the national economy and enhancing its sustainable impact in the long term.

For his part, Rami Jallad, CEO of RAKEZ Group, said that innovation plays a pivotal role in building resilient and future-ready economies, and through partnership with the Mohammed bin Rashid Innovation Fund, RAKEZ is working to provide stronger support paths for emerging companies that have high growth potential within its system, allowing them to access specialized support, financing opportunities, and strategic networks that can contribute to accelerating their growth process.

The partnership combines elements of financing, guidance, direction and innovation support, in addition to a facilitating business environment and integrated services for establishing and operating companies, ensuring that startups and small and medium-sized companies receive the support they need at various stages of their growth.

RAKEZ and the Mohammed bin Rashid Innovation Fund will also continue to work closely to enable innovative companies to expand with confidence and benefit from new opportunities within the growing innovation ecosystem in the UAE.

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