The United Arab Emirates University Science and Innovation Park is to launch a new country-specific Global Entrepreneurship Monitor (GEM) report for the UAE.
The report will measure the level of entrepreneurial activity in the Emirates; how entrepreneurial activity may influence economic growth and the shift towards a knowledge economy; and the entrepreneurship ecosystem in the UAE and the factors that may foster or hinder entrepreneurial activity. Once completed, the report will not only provide a reliable comparison across countries using global harmonized data, but it will also offer recommendations on how to improve the ecosystem and increase entrepreneurial activity in the country.
“We have finished all the data collection and we are now analyzing the data before we prepare the report,” explains professorNihel Chabrak, UAE GEM 2016 Team Leader and Programs Director at the UAEU Science & Innovation Park (SIP). “The report, which is being managed by SIP’s think tank INNOVGlobal, whose mission is to develop competitive intelligence databases for evidence-based policy making among other things,will offer an insight into the UAE ecosystem, as well as map who is doing what in the UAE using the GEM framework.”
A trusted source among universities, investors, think tanks and government bodies among other entities, GEM is a global study conducted by a consortium of universities who look at two elements – the entrepreneurial behavior and attitudes of individuals, and the national context and how that impacts entrepreneurship. According to its website, the information gained allows “a deep understanding of the environment for entrepreneurship and provides valuable insights”.
“We are also going to have two special sections – one about women entrepreneurship in the UAE and the other about entrepreneurship and happiness,” reveals prof. Chabrak.
The report, which will be published in February/March 2017, is one of many initiatives being undertaken at the Science and Innovation Park (SIP), which started operations in November 2015 to much acclaim.
Alongside INNOVGlobal’s work on GEM, prof. Chabrak says the science park is also looking to extend its Global Advisory Panel, which was formed in spring 2016 to offer support to entrepreneurs working out of SIP. “The SIP Global Advisory Panel comprises more than 30 committed and talented Entrepreneurs in Residence (EiRs) with significant entrepreneurial experience from public and private sector UAE organizations, partner incubators, and international universities and renowned entrepreneurial networks globally,” adds the director. “We will extend our panel to continue offering a unique support to entrepreneurs enrolled in our programs in the SIP through mentoring.”