Rima Al Mokarrab chairs the board of Tamkeen and is co-chair of the FoodTech Challenge
January 24, 2023
Situated at a global crossroads, the UAE has long been a hub for the flow of trade, people and ideas. The nation has acted as a natural incubator for innovation, thriving on diverse cultures and perspectives. Today, bolstered by modern, tech-friendly policies and regulations, the Emirates is ranked by the Global Innovation Index as the most innovative economy in the Arab world for the seventh consecutive year. We are a young, stable, future-focused nation that has become a prime testing ground for new technologies as we tackle some of the biggest challenges of our time.
Food security is one of those challenges. As a desert nation with significant water scarcity, food security has always been an issue of concern and government attention. Climate change, the Covid-19 pandemic and wider geopolitical pressures have accelerated our focus on this core issue.
The UAE National Food Security Strategy, launched by Mariam Al Mheiri, Minister of Climate Change and Environment and Minister of State for Food Security, in November 2018, responded to these challenges by prioritising a better balance between locally produced and imported food and by leveraging new technology to boost domestic yields and reduce food waste.
Three UAE start ups made it to the finals of the second edition of the Global FoodTech Challenge. Photo: Global Food Tech Challenge
One element of our food security strategy is to catalyse partnership and innovation, seeking out the world’s leading scientists, technologists and innovators, and directing their efforts to the difficult challenges at hand here in UAE. This has been the objective of the FoodTech Challenge (FTC), a global competition that is now in its second year.
This year’s FTC inspired 667 applications from 79 countries, all of which put forward proposals on how to enhance various aspects of the UAE’s food security, which will have relevance far beyond the country. An emphasis was placed on innovations related to two tracks that are critical locally and globally: “Food Production” to ensure the consistent and sustainable availability of food and to explore next-generation, nutrient-rich alternatives, and “Food Loss and Waste” to reduce burdens on the food supply chain more broadly. Entrants included students, scientists, farmers, university professors, computer programmers, imaging specialists and more, all applying their creativity and brainpower to generating solutions to our shared challenges.
We have now selected four winners whose ideas we believe have the potential to have the most impact in UAE and beyond. The four incredibly innovative startups are: Aquagrain from the UK, which has created a soil enhancer manufactured from food waste that retains 30 times more water, allowing food to grow with limited water and in sandy soil; Orbisk from the Netherlands, which helps restaurants and other commercial food outlets drastically reduce food waste by an average of 350 kilogrammes per month using AI imaging technology; Revoltech from the UAE, which, thanks to a novel ultra-freezing technology, makes food storage possible for up to 50 years without losing nutrition or taste; and Sustainable Planet, also from the UK, which grows lentils and other popular plant-based proteins on non-arable land with salt water, in a world of increasingly wide-scale desertification. Aquagrain and Sustainable Planet both address the food production demands of a growing global population, while Orbisk and Revoltech are working to cut food waste by leveraging technology to help change consumer and commercial behaviour.
The FTC legacy extends well beyond the shared $2 million prize. This is an all-of-society effort to address an all-of-society challenge. Through its deep partnership network that spans the public and private sectors, the competition ensures the winning teams will be supported with everything they need to take their ideas to market. From licensing, visas and market mapping, to business model development, R&D support and access to investors, each team will have the very best resources on hand to help realise their ambitions.
Harvesting potatoes at the Al Ain Wheat Farm. The National
FTC’s Lead Partner is Aspire, an Abu Dhabi entity that shapes technology R&D across the emirate, including for food and agriculture. Our track partners also provide key support: Silal and ADQ guide the “Food Production” track with industry knowledge from across the supply chain. Emirates Foundation guides the “Food Loss and Waste” track, particularly with their experience through Ne’ma, a national initiative that promotes positive consumer behaviour to halve UAE’s food waste by 2030. FTC’s wider enablement partners play a role in this multi-sector journey as well, and include Abu Dhabi Global Market, Abu Dhabi Residents Office, Hub 71, The Catalyst, the Authority of Social Contribution - Ma’an, Competitiveness Office of Abu Dhabi, and Khalifa Fund for Enterprise Development.
A competition standing alone may or may not drive significant progress for the Emirates and the world. But we believe that one with the buy-in and engagement of such substantial public and private sector expertise can be truly catalytic.
The FTC and the deep partnership that it is built upon is emblematic of UAE’s approach to anticipating and overcoming challenges. If we can go from the manual irrigation systems of my childhood to waterless and soilless farming in one generation, then there is no limit to what the future holds.
A mark of Chatham House’s influence 100 years on since its founding, was Moscow’s formal declaration last month that it was an “undesirable organisation”.
The depth of knowledge and academics that it drew on following the Ukraine invasion had broadcast Mr Putin’s chicanery.
The institute is more used to accommodating world leaders, with Nelson Mandela, Margaret Thatcher among those helping it provide authoritative commentary on world events.
Chatham House was formally founded as the Royal Institute of International Affairs following the peace conferences of World War One. Its founder, Lionel Curtis, wanted a more scientific examination of international affairs with a transparent exchange of information and ideas.
That arena of debate and analysis was enhanced by the “Chatham House Rule” states that the contents of any meeting can be discussed outside Chatham House but no mention can be made identifying individuals who commented.
This has enabled some candid exchanges on difficult subjects allowing a greater degree of free speech from high-ranking figures.
These meetings are highly valued, so much so that ambassadors reported them in secret diplomatic cables that – when they were revealed in the Wikileaks reporting – were thus found to have broken the rule. However, most speeches are held on the record.
Its research and debate has offered fresh ideas to policymakers enabling them to more coherently address troubling issues from climate change to health and food security.
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
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COMPANY PROFILE
Name: Mamo Year it started: 2019 Founders: Imad Gharazeddine, Asim Janjua Based: Dubai, UAE Number of employees: 28 Sector: Financial services Investment: $9.5m Funding stage: Pre-Series A Investors: Global Ventures, GFC, 4DX Ventures, AlRajhi Partners, Olive Tree Capital, and prominent Silicon Valley investors.
Name: Peter Dicce
Title: Assistant dean of students and director of athletics
Favourite sport: soccer
Favourite team: Bayern Munich
Favourite player: Franz Beckenbauer
Favourite activity in Abu Dhabi: scuba diving in the Northern Emirates
Terror attacks in Paris, November 13, 2015
- At 9.16pm, three suicide attackers killed one person outside the Atade de France during a foootball match between France and Germany - At 9.25pm, three attackers opened fire on restaurants and cafes over 20 minutes, killing 39 people - Shortly after 9.40pm, three other attackers launched a three-hour raid on the Bataclan, in which 1,500 people had gathered to watch a rock concert. In total, 90 people were killed - Salah Abdeslam, the only survivor of the terrorists, did not directly participate in the attacks, thought to be due to a technical glitch in his suicide vest - He fled to Belgium and was involved in attacks on Brussels in March 2016. He is serving a life sentence in France
The burning issue
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