Dr Raed Awamleh, the director of Middlesex University Dubai, says co-operation on research has not developed as fast as it could.
Dr Raed Awamleh, the director of Middlesex University Dubai, says co-operation on research has not developed as fast as it could.

Universities 'can do more' to collaborate on research



Universities are not co-operating enough on joint research projects and are instead competing to attract and teach undergraduates, according to senior figures in higher education. Academics say the UAE has yet to develop a "research community" of institutions that share ideas and expertise on a regular basis.

However, with Dubai International Academic City set to expand and more overseas institutions moving to Abu Dhabi, officials are hopeful the co-operative research culture they say has eluded the country will develop. Dr Raed Awamleh, the recently appointed director of Middlesex University Dubai, said in Knowledge Village, where the university is based, that joint research initiatives had developed "below expectations".

"It has progressed but we can do more. [Research collaboration] has not developed as fast as it could." He said there had not been as many academic conferences that drew together academics from different universities as there might have been. "There have been some good quality ones, but it's been more for professional development and trade, rather than academic [subjects]." Middlesex University Dubai opened in 2005 as the first overseas branch of Middlesex University, a London-based institution.

It is one of several university branch campuses based in Knowledge Village, an academic free zone near Dubai Media City, which was launched in 2003 and also contains commercial companies operating in fields such as publishing, personnel and e-learning. Prof Jim Mienczakowski, the head of higher education at Abu Dhabi Education Council, said there was a lack of collaborative research projects, and even of research within institutions.

"Many of the private universities, especially with activities related to undergraduate qualifications, haven't got a specific research focus as institutions," he said. "They're concentrating on the business side of higher education rather than focusing on research, and they probably won't collaborate on research very easily. Their focus has not been on it and they're in competition." However, he said the leadership of Abu Dhabi emirate was "very committed" to developing a research culture that was beneficial economically and also enhanced the capital's international reputation. He said some universities, notably the UAE University, were already producing high-quality research.

"It's about making the opportunities available and assisting them to take up the research challenge." He said the opening of branches of New York University, the Paris-Sorbonne and Masdar Institute of Science and Technology, all world-renowned institutions and all planning major research operations, was a major step forward. "The view of the leaders of this emirate is clear: to have the research required to give credibility to academic programmes and to enrich our cultural and economic capabilities."

The tertiary sector is also set to expand in Dubai, with much of the growth centred on Dubai International Academic City, described as the world's only higher-education free zone. Dr Awamleh said Middlesex University Dubai could move there, joining Michigan State University, which opens a branch there this year, and several other institutions. "With some universities in Academic City [and others in Knowledge Village], there are now two campuses, but as more universities arrive in Academic City, a critical mass [will develop] and I expect more co-operation and interaction," he said.

Prof Ashly Pinnington, the dean of the faculty of business at the British University in Dubai, which is based in Knowledge Village but is looking to move to Academic City, cautioned against the perception that universities were not co-operating on research. He said there was "informal interaction" between staff and students at Knowledge Village, even if this rarely extended to taking part in funded research.

"Academics and students [from different universities] do meet up and we have a range of workshops at BUiD and large numbers of guest lecturers on a range of subjects," he said. He agreed that Academic City was "the place of the future" in Dubai emirate, saying it would become "a much bigger hub". "It will be a bigger beacon in terms of higher education research." @Email:dbardsley@thenational.ae

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OIL PLEDGE

At the start of Russia's invasion, IEA member countries held 1.5 billion barrels in public reserves and about 575 million barrels under obligations with industry, according to the agency's website. The two collective actions of the IEA this year of 62.7 million barrels, which was agreed on March 1, and this week's 120 million barrels amount to 9 per cent of total emergency reserves, it added.

COMPANY PROFILE
Name: Kumulus Water
 
Started: 2021
 
Founders: Iheb Triki and Mohamed Ali Abid
 
Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Company%20Profile
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Profile of Tarabut Gateway

Founder: Abdulla Almoayed

Based: UAE

Founded: 2017

Number of employees: 35

Sector: FinTech

Raised: $13 million

Backers: Berlin-based venture capital company Target Global, Kingsway, CE Ventures, Entrée Capital, Zamil Investment Group, Global Ventures, Almoayed Technologies and Mad’a Investment.

Cracks in the Wall

Ben White, Pluto Press 

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COMPANY PROFILE

Name: Lamsa

Founder: Badr Ward

Launched: 2014

Employees: 60

Based: Abu Dhabi

Sector: EdTech

Funding to date: $15 million

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  • Create a savings and investments union to help companies access capital
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Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

NYBL PROFILE

Company name: Nybl 

Date started: November 2018

Founder: Noor Alnahhas, Michael LeTan, Hafsa Yazdni, Sufyaan Abdul Haseeb, Waleed Rifaat, Mohammed Shono

Based: Dubai, UAE

Sector: Software Technology / Artificial Intelligence

Initial investment: $500,000

Funding round: Series B (raising $5m)

Partners/Incubators: Dubai Future Accelerators Cohort 4, Dubai Future Accelerators Cohort 6, AI Venture Labs Cohort 1, Microsoft Scale-up