The Mohammed bin Rashid Al Maktoum Foundation has signed a MoU with the Charles Edison Fund, a US-based philanthropic institution dedicated to backing global initiatives in medical research, science education and historic preservation.

The announcement came as part of the Foundation’s visit to the US to explore and cement partnerships with organisations that will help expand its reach and increase collaboration on projects based in the Arab World.

Led by Adel Al Shared, vice-chairman and managing director, Mohammed bin Rashid Al Maktoum Foundation, the delegation included Sultan Lootah, vice president - Entrepreneurship and Employment Sector.

As per the agreement, both organizations will work towards promoting the development of broader and deeper innovation capabilities throughout the Arab region to ensure sustainable economic growth and the creation of new employment opportunities.

It also mandates offering proper training cycle, mentoring and coaching for budding entrepreneurs, and providing one of the best modules in supporting inventors to become successful entrepreneurs and become change agents to drive growth in the region.

Al Shared said: “In collaboration with Edison, the Foundation will develop leaders of change who will have an impact in job creation in the 22 Arab countries. They will work towards spreading awareness on the importance of entrepreneurship and innovation, thus positively impacting economic growth in their respective countries.”

Incorporated in 1948 as The Brook Foundation by Charles Edison, Governor of New Jersey and son of visionary scientist Thomas Alva Edison, the Charles Edison Fund is dedicated to supporting worthwhile endeavours within the areas of medical research, science education and historic preservation.

The Maktoum Foundation has entered into alliances with several organisations to help the region achieve knowledge capabilities and social progress, Al Shared said.

The Foundation will continue to be actively engaged in strengthening capabilities in the Arab world through implementing various initiatives under its different sectors -  Knowledge and Education, Emplyment and Entrepreneurship and Culture Sectors.-TradeArabia News Service