Forbes Middle East, the licensed Middle Eastern version of the world-renowned Forbes magazine, has revealed that it will compile a ranking of the top Emirati entrepreneurs.

The move followed the UAE Cabinet's approval on Monday of the designation of 2015 as the Year of Innovation.

Forbes Middle East said the comprehensive list will focus on some of the most influential UAE nationals who are pioneering their own ventures and further cementing the nation’s global position as an incubator of innovation and inspirational ideas.

In a world of rapid change and urbanisation and amid rising competition, the UAE Cabinet emphasised the need to stimulate innovation and creation among Emirati youth, particularly in sectors such as renewable energy, transportation, education, health, technology, water security and space, in both the public and private sectors.

Forbes Middle East will launch a definitive ranking, based on the best international standards and practices to support Emirati entrepreneurs and celebrate their visions and achievements. For those wishing to be considered for the ranking or who would like to nominate an outstanding entrepreneur, applications will be open from January 1, 2015.

Khuloud Al Omian, editor-in-chief, Forbes Middle East, said, "HH Sheikh Khalifa bin Zayed has created an environment that encourages innovation, creativity and business in the UAE. To support this, the Forbes Middle East research team will prepare a ranking of Emirati entrepreneurs based on the latest and most accurate research, investigation and analysis."

Al Omian added: "Encouraging today’s young men and women to harness their creativity and potential is essential for the sustainable development of the UAE’s economy. The future will belong to those who embrace outstanding ideas and innovation." – TradeArabia News Service