The Mohammed bin Rashid Innovation Fund is a federally-sponsored initiative conceived and sponsored by the Ministry of Finance to support local innovators in accessing affordable finance through the provision of a government-backed guarantee. The Fund of AED 2 billion was announced in November 2015 during the UAE’s inaugural Innovation Week which sought to showcase a variety of innovative initiatives across federal and local levels of government and within the private sector.
The Fund will act on behalf of the UAE government to provide a guarantee as security to a financier, as an incentive to encourage the issuance of a loan and to reduce collateral required from the applicant.