It came according to the analysis issued by the Dubai Chamber of Commerce and Industry, on the sidelines of the activities of the UAE month of innovation in Dubai, which is organized this year under the slogan of innovation begins with you, that the private sector Achieved 4.7% growth in innovation result in 2018 compared to 2017, according to capabilities and performance results.

The analysis, which included more than 1,600 companies in Dubai, and whom Namazone viewed a copy, showed that the private sector maintained its sustainable growth in innovation results, achieving in the year 2018 a total rate and result of innovation of 64.4%, as it progressed in the result of capabilities, institutional empowerment, activity and access To new ideas, where the efforts of Dubai companies have emerged to keep pace with rapid developments in the field of innovation, and implement innovative initiatives to maintain their competitiveness.

The proportion of private sector innovation has grown in a number of key areas in the analysis, as the percentage of the organization's capabilities reached 56.45%, up from 51.90% during 2017, while the field of access to new ideas grew by 8.5% to reach in 2018 about 72.88% compared to 67.21% In the year 2017.

Significant growth has emerged in the pillars of secondary performance, especially with regard to the tangible effects of growth and revenue generation, new products and services and technical readiness, as Dubai companies' interest and expectation of achieving revenue growth has emerged due to the adoption of more advanced technology solutions, innovative products and modern business models.

In the area of ​​growth and revenue generation, the percentage in 2018 was 48.89%, with a growth rate of 19.7% compared to 2017, which was then 40.84%. In the area of ​​new products and services, the private sector grew by 15.5% in 2018 compared to 2017. In the field of technical readiness, the private sector achieved 15.6% growth, reaching 66.80% in 2018.

The analysis showed that the hospitality sector in Dubai recorded the highest growth in innovation results due to its investment in internal processes and procedures, and its focus on improving the customer experience.
Dubai Chamber analysis shows growth in private sector contribution to innovation process

It is worth noting that the proportion of private sector innovation increased by 13% compared to 2015.

The Chamber of Commerce and Industry of Dubai launched in late February last year, the Dubai Innovation Platform, the first of its kind in the world, in order to complement the Dubai Innovation Index, which the Chamber launches annually. p>