Kuwait recently hosted a major ceremony for the Third International Award for Innovation, a landmark event that brought together 100 winners from 22 countries across the GCC, the Arab world, and beyond. Held under the patronage of Aseel Al-Munifi, Undersecretary of the Ministry of Finance, the event underscored Kuwait’s commitment to becoming a leading center for technology, digital transformation, and artificial intelligence.
Organized by Ecosystem for Management Consulting and Investment, the ceremony served as a powerful platform to honor innovators driving economic diversification through digitalization and to foster collaboration on a global scale.
Government Backing For A Digital Future
In her address, Aseel Al-Munifi affirmed the Ministry of Finance’s dedication to supporting private sector initiatives that advance Kuwait’s technological landscape. She stated that the ministry’s participation stems from a deep belief in the award’s pivotal role in accelerating the country’s digital transformation agenda.
Al-Munifi highlighted that the Ministry is actively pursuing its own initiatives to digitize and automate critical financial processes, aiming to enhance the efficiency of government financial performance. She called upon all government entities, educational institutions, and private companies to continue evolving their operations to keep pace with the Fourth Industrial Revolution.
A Regional Platform For Economic Diversification
Dr. Hanadi Mubarak Al-Mubaraki, President of the Award and founder of Ecosystem, opened the ceremony by welcoming the distinguished guests. She explained that the Gulf-Arab initiative, launched in 2020, was founded with the long-term goal of fostering economic diversification across the region.
“This diversity aims to elevate the region to the ranks of developed nations and to raise its global competitiveness indicators for innovation, entrepreneurship, and artificial intelligence, in line with the Sustainable Development Goals 2030,” stated Dr. Al-Mubaraki.
She expressed pride in honoring the 100 winners from 22 nations, noting that the competition is the first of its kind globally to focus specifically on economic diversification based on innovation and digitization.
Strategic Partnership Fostering Young Talent
Tareq Al-Aoun, CEO of NEST and a strategic partner of the award, emphasized the unprecedented global shifts in innovation and technology. He noted that the increasing challenges of globalization and AI require institutions to adopt new business models centered on creativity and continuous development to ensure sustainable growth.
“This competition has successfully proven that our region is rich with young and ambitious minds capable of turning innovative ideas into practical solutions that directly support national development plans,” Al-Aoun remarked.
He also outlined NEST’s own initiatives to support digital transformation, including the launch of a specialized British university for science and technology, an advanced AI training center, and an EON-XR center for augmented and virtual reality to enhance interactive learning in Kuwait.
Recognizing Regional And Global Leaders
The ceremony also honored numerous high-profile dignitaries and strategic partners who have supported the award. Honorees included representatives from Bahrain, the UAE, and Oman, alongside key figures from the GCC General Secretariat, the Arab League’s Federation for Scientific Research Councils, and the Arab Union for Sustainable Development and Environment, all of whom presented awards to various winners.
About The International Innovation Award
The International Innovation Award is an annual initiative organized by Ecosystem for Management Consulting and Investment. It aims to promote economic diversification in the GCC and Arab world through innovation, digitalization, and entrepreneurship. The initiative serves as a global platform for building cooperation between nations by sharing successful experiences and best practices. In addition to the annual competition, its outputs include a global virtual conference, the “Technopark” trilingual e-magazine, and a smart virtual business accelerator.
Source: Rowad Al Aamal
