Innovation Award 2020
Today, developed and developing economies promote innovation to achieve eventual economic and social development. It is now also implicit that innovation is taking place in all domains of the economy, in not only high-tech companies and technology sectors. As a result, economies are firmly centering their attention on the creation and upkeep of sound and dynamic innovation ecosystems and networks.
Jordan is ranked 86th among 129 countries in 2019 according to the Global Innovation Index (GII), with 16% improvement from 2016 meeting the expected level of development. The country can make use of its main resource (well-educated individuals) and its fast growing, vibrant and diverse Innovation and Entrepreneurship Ecosystem to attain major national social and economic development.
Abdul Hameed Shoman Foundation (AHSF) identifies innovation as one of its three pillars; aims to participate in driving the engine of innovation led growth by spreading a culture of innovation across sectors with pressing needs, and creates an environment where innovators and entrepreneurs are given opportunities and necessary support to develop viable impact-driven innovations.
Aligned with its strategic objectives and continued efforts in supporting innovation; Abdul Hameed Shoman Foundation (AHSF) proudly launches the Abdul Hameed Shoman Foundation Innovation Award (AHSF-IA) – 2nd edition in response for COVID-19.
- Scope & Strategic Objectives of the Award
The COVID-19 pandemic developed as a health crisis, moved on to becoming an economic concern. The current setting has particularly affected the VC ecosystem, startups and; small and medium enterprises (SMEs). Indeed, startups, small and medium size businesses are at the front line of the battle, with the consequences being especially severe for them, due to higher levels of vulnerability and limited resources.
The new reality is sure to spark innovations and pivot many business models to respond to today’s changing environment in a timely manner. For innovative and agile businesses to come back after the pandemic falls, and once again serve as an engine of innovation ecosystem, it is vital to support their way forward.
The objective of the second iteration of AHSF-IA is to support ideation, concept validation and enable scaling and growth of Jordanian innovations with significant social impact and adaptive to the permanent change caused by COVID-19 in the highly disrupted fields and sectors.