Dubai: The Mohammed Bin Rashid Innovation Fund (MBRIF), an initiative launched by the UAE Ministry of Finance, has announced a credit guarantee of AED 1.5 million for 01Gov, an Emirati GovTech startup. This guarantee aims to accelerate the growth of 01Gov’s proprietary AI-powered platform, reinforcing the UAE’s agenda to lead the world in government development and excellence.
According to Emirates News Agency, Fatima Yousif Alnaqbi, Acting Assistant Undersecretary for the Support Services Sector at the UAE Ministry of Finance and the Ministry’s representative at MBRIF, highlighted the pivotal role of the Fund in advancing the national innovation strategy. She emphasized the UAE’s vision to build a knowledge-based economy with strong global competitiveness. Alnaqbi stated that the Fund is committed to empowering high-potential innovators and providing the necessary foundations for their growth and expansion, ensuring a sustainable developmental impact. The support for 01Gov reflects a firm commitment to fostering innovation, accelerating digital transformation, and strengthening national capabilities.
The 01Gov Platform offers a comprehensive cloud-based solution, available online and as a mobile app, designed to tackle challenges faced by government entities. It empowers public sector professionals by providing tools to track emerging global trends, conduct benchmarking studies, and access international best practices. Additionally, it helps government employees generate innovative ideas, run idea labs, and engage in continuous self-learning.
The new backing enables 01Gov to scale its operations and meet the growing demand for its intelligent, purpose-built solutions. The guarantee will fund the advancement of ‘One,’ 01Gov’s agentic AI system, and enhance the capabilities of the 01Gov Platform for its existing government clients.
Dr. Saeed Al Dhaheri, Partner, Artificial Intelligence and Future Foresight at 01Gov, expressed gratitude for the trust placed in them by the Mohammed Bin Rashid Innovation Fund and the UAE Ministry of Finance. He noted that this support aligns with their strategic direction to contribute to the UAE’s efforts in enhancing government efficiency and strengthening foresight capabilities. Dr. Al Dhaheri acknowledged the UAE’s ambitious agenda to lead globally in AI-powered government and expressed pride in contributing to this national ambition.
MBRIF’s Guarantee Scheme plays a crucial role in driving the country’s innovation ecosystem by providing affordable debt financing to groundbreaking companies. This reflects its dedication to supporting the growth of disruptive enterprises that contribute to the country’s economic diversification and sustainable development.