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The UAE Has Launched A Program To Assist 100 Startups

The Future 100 program marks the start of a series of government initiatives aimed at improving the UAE’s future preparedness across multiple sectors.

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the uae has launched a program to assist 100 startups

The United Arab Emirates is already making a name for itself as a startup hub for global tech companies. Now, however, a program has been launched to ensure that the region’s economy is fully future-proofed.

The program, known as Future 100, aims to help 100 prominent startups across a diverse range of technology sectors, including space travel, renewable and carbon-neutral energy, and other emerging tech. As the program develops, it’s hoped that a new economic model will emerge, aligning the UAE with emerging trends and creating a lasting, 50-year impact.

“The Ministry of Economy continues to support innovative future projects that promote the UAE’s global leading position on competitiveness indicators and supports it as an attractive destination for future projects from all over the world. It further enhances its position as a permanent hub for creativity and innovation, securing sustainable growth for the UAE’s national economy and creating new jobs through startups, especially in sectors pertaining to the new economic fields, such as space, renewable energy, fintech, and AI,” says Abdullah bin Touq Al Marri, UAE Minister of the Economy.

Also Read: Hub71’s Startup Ecosystem Now Boasts Over 200 Members

According to other government sources, the UAE Future 100 roadmap emphasizes the improvement of future preparedness. The initiative is meant to symbolize the future orientation of the UAE leadership, focusing on the economic growth of the region, raising the GDP, and boosting the performance of new economic sectors.

Over the past couple of years, the UAE has initiated several programs of this nature with the goal of creating a robust, future-focused economy. The National Program for Artificial Intelligence 2031, the Green Growth Strategy, the Energy Strategy 2050, the Emirates Blockchain Strategy and the Strategy for the Fourth Industrial Revolution are just a few of the initiatives that highlight the region’s lofty goals.

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Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

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lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

Also Read: Deezer Says AI Tracks Now Make Up 44% Of Uploads

Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.

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