The Dubai government has allocated 750 million dirham (US$204.1 million) over three years to further its R&D and innovation program.

This initiative aims to position the city as a global hub for knowledge and innovation with a projected economic impact of 20 billion dirham (US$5.4 billion) annually by 2033.

Led by the Dubai Future Foundation, the plan includes creating 120,000 jobs and supporting 600 start-ups.

In the next three years, it will expand partnerships with international universities and research centers.

It also aims to increase private-sector contributions to 50% of total R&D investment. A new Institute for Future Research is also planned.

Dubai’s crown prince Sheikh Hamdan bin Mohammed approved the initiative at an Executive Council meeting. He highlighted its alignment with Dubai’s sustainability and economic diversification goals.