Where will the next wave of innovation come from?

innovation wave opportunities took entrepreneurs

Where will the next wave of innovation come from?

Dr Vikas Nand Kumar Batheja is the co-founder and director of Capital College in Dubai

The global pandemic has created panic, industrial disruption, and affected people - to say the least. While there is a lot of uncertainty lurking around, if looked at closely, there are numerous opportunities that entrepreneurs and corporations could perhaps capitalise upon. History has been a witness to it where crises like SARS in the early 2000s catalysed the growth of e-commerce companies like China's Alibaba and other established companies that initially ventured as startups like Uber and Airbnb. Analysing a similar business model, the Middle Eastern region is also implementing long-term plans for economic growth with a pivotal role played by technology. Following the coronavirus outbreak, UAE announced a cumulative package of over $34 billion while the Kingdom of Saudi Arabia took a similar pathway with over $32 billion invested in its development. While on a macro level, there are many job-creating opportunities, it is necessary to retrospect on how entrepreneurs and startups can take advantage of the crisis with innovation at the forefront.


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