May 23, 2017 - His Highness Sheikh Dr. Sultan bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, President of the American University of Sharjah (AUS) witnessed in London, the signing of a strategic Memorandum of Understanding (MoU) between AUS Enterprises and Oxford Sciences Innovation (OSI), a company that commercializes science and technology from the UK's University of Oxford, to mutually enhance the innovation ecosystems of the Emirate of Sharjah and the city of Oxford. The agreement was signed during the recent meeting of the Board of Trustees of the American University of Sharjah.
This partnership aims to boost OSI's efforts to strengthen innovation-based collaboration with local and regional leading academic institutions and enterprises. OSI's expertise will be particularly valuable to the growth of Sharjah's Research, Technology and Innovation Park (RTI) as a highly capable enabler of innovation under the provision of AUSE. As an extension to the American University of Sharjah, it will also support the university's mission of expediting economic diversification and the creation of new jobs in preparation for the UAE's post-oil era; prospering knowledge-based industries for sustainable economic growth; and firmly establishing Sharjah as a catalyst for regional development.
AUSE and OSI will collaborate on programs and activities related to innovation, entrepreneurship, and investment for bilateral development. AUSE will assist OSI's portfolio companies in accessing MENA markets through joint promotion, marketing, soft-landing services and access to the regional business community.
Commenting on the MoU, Hussain Al Mahmoudi, CEO, American University of Sharjah Enterprises: “Our partnership with Oxford Sciences Innovation is the latest of our successful engagements with globally renowned innovation-oriented institutions geared towards enriching the innovation landscape of Sharjah. This is a vital agreement given OSI's prestigious level as the largest education portfolio in the world, at a private university worth nearly 3 billion dirhams, supported by remarkable achievements on the level achievements in translating the scientific and technological concepts emerging from one of the world's leading universities into profitable commercial pursuits. OSI's expertise will be particularly valuable to the growth of the Research, Technology and Innovation Park (RTI) as a highly capable enabler of innovation, in line with the vision of H.H. Sheikh Dr. Sultan bin Muhammad Al Qasimi, Ruler of Sharjah and a member of the Federal Supreme Council, to uphold innovation and entrepreneurship as pillars for Sharjah's growth.”
The RTI Park is being groomed as a critical element in empowering the Emirate of Sharjah to effectively address present and future challenges. As an extension to the American University of Sharjah, it will also support the university's mission of expediting economic diversification and the creation of new jobs in preparation for the UAE's post-oil era; prospering knowledge-based industries for sustainable economic growth; and firmly establishing Sharjah as a catalyst for regional development.
Simon Hombersley, CEO, Oxford Sciences Innovation, concluded: “The American University of Sharjah Enterprises is an ideal partner for us to bring our unique brand of cutting-edge research to the Arab World. It fully understands our philosophy of providing the financial and human capital to bring the University of Oxford's breakthrough science to market, and its direct involvement in RTI Park provides us with local access to advanced research and technology tools and facilities. We look forward to helping spread a culture of innovation across Sharjah's academic, business and government spheres and achieving mutual growth for our respective institutions and localities.”