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SRTI Park launches first MEA Energy Innovation Hub

March 2, 2021
oil and gas

SHARJAH, 1st March, 2021 (WAM) -- Supported by the UAE Ministry of Energy and Infrastructure, the Sharjah Research Technology and Innovation Park (SRTI Park) launched the MEA Energy Innovation Hub, to create opportunities in the energy, low carbon, and oil and gas sectors.

The launch was held during a virtual meeting on Sunday, attended by Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure, and Hussain Al Mahmoudi, CEO of SRTI Park, along with senior Emirati officials, CEOs and leaders of the energy industry.

Based at SRTI Park, the hub will serve as the regional gateway to innovation and business growth, where all players in the energy ecosystem can collaborate and address the sector’s major challenges.

In particular, the hub will launch, scale up and commercialise technology ventures, through initiatives such as accelerators and collaboration programmes. It will also, develop human capital and foster triple-helix engagement among the government, private industries and academia.

SRTI Park is collaborating with the Spanish innovation consultancy, Barrabé, in building the hub, which will engage stakeholders to conduct their business efficiently and sustainably.

The hub is a unique platform for boosting the UAE’s stature as a centre of innovation. It will also attract small and medium-sized enterprises (SME) and corporate investors, as well as research and development (R&D) funding.

The hub’s partners and stakeholders are corporates belonging to the energy sector and related sectors.

Academic and research centres will benefit from the innovation through knowledge transfer and new collaborative projects, as well as through the positioning and creation of R&D initiatives.

Various programmes, activities, services and initiatives will be organised, including new business and global start-up entrepreneurship programmes, hackathons, sandbox acceleration programmes, and venture markets.

Al Mazrouei said that the UAE’s knowledge and innovation centres will enable it to advance over the next fifty years, with skills-based on innovation, creativity and excellence in various key sectors, including energy.

'The priority in the agenda of the UAE Government is creating a prosperous future for later generations and consolidating global leadership and competitiveness of the UAE. Investing in innovation, such as the hub, will create more opportunities in the energy, low carbon, and oil and gas sectors,' he added.

'The UAE is a world leader in renewable energy and a pioneer in adopting international best practices in the energy sector. The UAE is one of the first countries to rely on renewable energy as an important part of its energy mix,' Al Mazrouei further added.

'The purpose of the hub is to promote the latest innovations that drive sustainable development and find ways of confronting the effects of climate change and mitigate global warming,' he noted, stressing that the UAE aims to benefit from hydrogen, as one of the means of achieving sustainable development.

'Our region is currently the most competitive in terms of cost at US$1.5 per kilogramme, indicating that the development of sustainable infrastructure and the launch of renewable energy projects are the core of the UAE's relevant international efforts,' he further said.

Al Mazrouei added that the is a prolific and active platform for dialogue and healthy discussions, which will bring the industry together towards innovation and improve the UAE’s energy landscape, both regionally and globally.

Hussain Al Mahmoudi, CEO of SRTI Park, said that the park is collaborating with Barrabé in building the hub, and engagements and events for stakeholders will be announced soon.

'The hub is planned to have milestones and activities that will offer the greatest impact on the sector, including tackling pressing challenges, such as data power and asset inspection; unleashing emerging innovations, such as smart materials, integrated grids, automation and remote operations; and connecting ecosystems (hydrogen delivery, zero carbon, reusable infrastructure),' Al Mahmoudi explained.

'The hub will feature an intense roadmap of activities for sponsors, including an annual Global Startup Convening to give birth to global game changers; accelerator programmes to solve complex challenges; the Pilot Factory to ensure a perfect fit for implementing technologies, and a Sandbox to showcase and test innovative solutions, he added.'

'It will also support hub sponsors by offering access to the latest innovations, reinforcing their brand positioning with a full agenda of events and activations and innovation platform on pitch days. The innovation hub will promote the development of talent in companies, offer new expert knowledge and specialised training programmes such as exploratory innovation trips, masters and innovation schools as well as co-working and co-living spaces. There will also be disruptive solutions and new businesses for the market,' he said in conclusion.


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