Ministry Of Economy Collaborates With Schneider Electric To Enhance Climate-Tech Start-Ups In UAE

The UAE Ministry of Economy has revealed that Schneider Electric is now a strategic partner in the NextGen FDI initiative. This programme aims to attract innovative global companies to the UAE, focusing on mentoring and expanding high-potential start-ups in sustainability and climate-tech sectors. Schneider Electric will bring its portfolio companies to the UAE, offering them networking and expansion opportunities.

Schneider Electric's ongoing strategic capital allocation strategy has positioned it as a leader in supporting start-ups. The company provides access to essential resources, tools, and partners for growth. Globally, it empowers category-defining companies in sectors like climate-tech, industrial AI, mobility, prop-tech, and cybersecurity.

Under the agreement, Schneider Electric will aid the NextGen FDI mission by offering go-to-market strategies and incubation for programme participants. This includes potential collaborations with Schneider Electric’s own projects. Additionally, existing start-ups from Schneider Electric's global portfolio will be introduced to this initiative.

Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, highlighted the importance of this partnership. He stated that it underscores the role of start-ups in aligning the UAE’s innovation ecosystem with its sustainability agenda and net-zero goals. "The partnership with Schneider Electric is a strategic step towards empowering climate-tech start-ups with the necessary tools and expertise to scale and grow," he said.

Al Zeyoudi further noted that this collaboration would expand the deployment of advanced technologies that reduce emissions and waste in the UAE and beyond. The UAE’s dedication to pioneering solutions like smart grids and energy-efficient infrastructure will be bolstered by this partnership.

Schneider Electric has long-term commercial partnerships with over 35 active companies in energy management, sustainability, and industrial automation. The company views the UAE as a crucial market for fostering sustainable growth and innovation.

Driving Sustainable Growth through Digitalisation

Olivier Blum, CEO of Schneider Electric, remarked on the transformative impact of digitalisation and electrification on economies worldwide. "Digitalisation and electrification are reshaping economies worldwide," he stated. As a strategic partner of NextGen FDI Initiative, Schneider Electric supports the UAE’s vision for energy resilience and sustainable development.

Blum added that their joint efforts enhance the UAE’s commitment to innovation and digital transformation. This collaboration solidifies the nation’s position as a leading global hub for technology-driven creators and innovators.

The Role of NextGen FDI Initiative

The NextGen FDI initiative was launched in 2022 as part of the UAE's strategy to diversify its economy. It aims to establish itself as a global hub for innovation. So far, over 20 companies operating in future-focused sectors like AI, renewable energy, robotics, and advanced manufacturing have joined this programme.

This initiative is accelerating the UAE’s transition to a knowledge-driven, sustainable economy by welcoming these forward-thinking companies.

With inputs from WAM