Dubai PR Network, Online Press Release from Dubai and Middle East
 
Money, Business & Investments(Banking & Investments)
Filter PR by
  
Mohammed bin Rashid Innovation Fund announces AED 5.5 million Disbursement in UAE start-up Pure Harvest
 
Mohammed bin Rashid Innovation Fund announces AED 5.5 million Disbursement in UAE start-up Pure Harvest

Disbursement to unlock growth opportunities and expansion across the region, aligned with UAE National Innovation Strategy 

Dubai, 02 October 2018 –   The Mohammed bin Rashid Innovation Fund (MBRIF), operated by the Emirates Development Bank (EDB), today announced a disbursement of AED 5.5 million to UAE headquartered Pure Harvest. 

A regional innovator in sustainable agriculture, Pure Harvest aims to address food security issues and water scarcity in the UAE while achieving resource efficiency and overcoming local climate challenges. Founded in October 2016, the Abu Dhabi based agricultural start-up is focused on the production of greenhouse fruits and vegetables in arid climates using world-leading Dutch hydroponics and climate management technologies. The current fund from MBRIF will be deployed towards construction and pre-production of Pure Harvest’s foundational, high-tech greenhouse in Nahel, UAE.

“We are pleased to support Pure Harvest. Producing fresh quality food using breakthrough technology, the business today is playing a critical role in advancing the UAE’s food security ambitions. As the Mohammed bin Rashid Innovation Fund portfolio continues to grow, we proactively look to engage with entrepreneurs who are pushing the limits of innovation to bring unique solutions to today’s problems. We look forward to working closely with the team at Pure Harvest to help accelerate their growth here in the UAE and around the region, addressing food security issues,” said Haytham Kamhiyah, Chief Executive Officer, Emirates Development Bank. In line with the UAE National Innovation Strategy, the Mohammed bin Rashid Innovation Fund (MBRIF) explores funding in innovative businesses in the fields of renewable energy, transportation, education, health, water, technology and space. 

Pure Harvest’s tech-enabled approach to arid climate agriculture is expected to create a positive shift in the agriculture industry in the region, by enabling fresh fruit and vegetable production all year-round, using advanced, resource-efficient growing methods and climate management technologies. 

“Pure Harvest was launched with an ambition to offer true & tangible food security, helping the country’s mission toward self-sufficiency and environmental sustainability. We invest in world-leading controlled-environment agriculture technologies to deliver consumers the absolute best quality produce. As a UAE-based business, we are honored to be supported by MBRIF and this strategic disbursement is instrumental in building our foundational high-tech greenhouse project, which will ultimately unlock future growth opportunities for us,” said Sky Kurtz, Cofounder and CEO of Pure Harvest. 

The Mohammed bin Rashid Innovation Fund (MBRIF) was founded to financially support entrepreneurs and SME’s with unique and innovative ideas who can drive the success of the UAE through contributing to the prosperity and sustainability of the country. Applicants must be residents of the UAE, or alternatively have their company registered in the UAE. 

MBRIF is actively pursuing investment opportunities in fast-growing UAE SME’s that have the potential to deliver a large-scale impact that is consistent with its visionary mandate.


Posted by : Dubai PR Network Editorial Team
Viewed 7625 times
PR Category : Banking & Investments
Posted on : Tuesday, October 2, 2018  3:09:00 PM UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of DubaiPRNetwork.com.
Previous Story : MENA region must come together to capitalize on entrepreneur...
Next Story : ABLF dedicates its 11th Anniversary edition to the late Shei...
Email this article Print this article

Share this article with your friends and followers
NewsVine
Back to Section Home

Related Stories



 
 
Most Viewed Press Release posted in the last 7 days
Ralph Lauren offers the spring 2019 collection [10480-Views]
Tame your Tresses [9931-Views]
Le Meridien Al Aqah Beach Resort Rolls out Fabulous Deals for February [9760-Views]
Kronometry 1999-Corum boutique in Paris [9717-Views]
Nothing says ‘I love you' quite like MKS Jewellery Valentine's Day Top Picks [9302-Views]
Great offers this February on Glambeaute.com [8735-Views]
Kappa Exclusive Collection [8204-Views]
Mesmerizing Gift Sets and Perfume for Her [7991-Views]
Valentine's Day Gifting Guide [7424-Views]
Introducing Supergirl Make-Up [7052-Views]
GUESS Launches Kids Collection [6960-Views]
GROHE Is the Driving Force of the Digital Transformation in the Sanitary Sector and Sets N... [6808-Views]
Delightful Duo Of Elegant Timepieces Make For A Special Valentine Day's Gift [6771-Views]
Belt Bags from Longchamp [6490-Views]
Real Madrid & Manchester City Collections [6484-Views]
Honor Gadget Gift Guide: Step Away from Anything that Wilts and Step up your Smartphone Ga... [6283-Views]
GUESS Launches JEANS SS19 Collection for Women [6216-Views]
Amity University Dubai Hosts the World's Top AI Researchers at an International Conference... [6216-Views]
Taste, Vote and Win: Dubai Food Festival Hidden Gems is Back! [6173-Views]
Classic Smoky Eyes with Essence [5856-Views]
Fatima Bint Mubarak Ladies Sports Academy (FBMA) International Show Jumping Cup 2019 annou... [5661-Views]
Deadline extended to register for first ever Dubai Corporate Sports Championship [5582-Views]
Facebook to launch fact-checking program in Arabic in partnership with AFP in the Middle E... [5374-Views]
Treat your loved one to a romantic Venetian gondola cruise at Riverland™ Dubai on 14 Feb [5307-Views]
Emirates Post commemorates silver jubilee of Emirates Center for Strategic Studies and Res... [5191-Views]
 
RSS Facebook Twitter LinkedDin
 
Top Sections
 
Top Stories