Sandooq Al Watan Receives New AED10 Million Donation
15th July 2017
- The latest pledge raises the overall sum raised by the fund since its inception to AED558 million.
Abu Dhabi, July XX, 2017 – Sandooq Al Watan, a national initiative launched by prominent Emirati businessmen to support research projects for the post-oil era, has received a new AED10 million contribution from the Bin Hamoodah Group, bringing its total amount raised since its inception to AED558 million.
The new donor’s name will be added to Sandooq Al Watan’s ‘Early Fund’ list, which compiles the names of all contributors – individuals or institutions – until the end of the Year of Giving 2017.
“Our responsibility towards society compels us to support Sandooq Al Watan, and to play our part in creating a sustainable knowledge economy for future generations,” said Bin Hamoodah Group Chairman H.E. Faraj Ali Bin Hamoodah. “We support the fund’s efforts to stimulate creativity and innovation, and to drive development and economic diversification. Sandooq Al Watan plays a positive role in society as it works to develop the skills of an entire generation of future leaders. This resonates with our strategy to invest in national talent to serve the UAE’s development ambitions.”
The Board of Directors at Sandooq Al Watan welcomed the Bin Hamoodah Group onto the ‘Early Fund’ list, calling on all Emirati businessmen to support the fund and its goals and plans for a sustainable future for the UAE.
Sandooq Al Watan had recently launched the ‘Our Future’ initiative, which provides a host of services, including product marketing for the inventions, incubating startups, promoting research, and strengthening ties between the private sector and academic institutions. It focuses on identifying innovative ideas and developing techniques to implement them as local businesses that can attract global investments and eventually compete with international enterprises such as Google and Tesla, among others.
The initiative is aligned with the UAE leadership’s directives – particularly, His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces – to set plans for a sustainable knowledge economy in the post-oil era.