The Higher Colleges of Technology (HCT) and the Department of Economic Development in Ajman (Ajman DED) will develop a strategic partnership to support human capital development and Emiratisation efforts, as well as encourage innovation, entrepreneurship and startup enterprises among youth, after a wide-ranging Memorandum of Understanding (MoU) was signed by the parties.

The MoU was signed by Dr. Abdullatif AlShamsi, HCT President & CEO, and H.E. Abdullah Ahmed Al Hamrani, Director General of the Ajman Department of Economic Development, at the HCT-Sharjah campuses, in the presence of officials from both entities.

Under the terms of the agreement, the parties will collaborate to train UAE Nationals to meet the needs of the Ajman DED, as well as to attract HCT graduates to work in the department, according to its needs and relevant vacancies. The parties will also develop academic and professional programs to meet the Ajman DED’s needs and the demands of the labor market in the vital economic sector, as well as seek to integrate international professional certifications into economic and finance-related majors.

The parties will work to promote joint research initiatives and studies, activate creativity and innovation-based endeavors and encourage youth to explore entrepreneurship through the establishment of startups. To this end, the DED will support HCT students’ innovative ventures or projects in the initial stages, through feasibility studies and subsequently with issuance of economic licenses.

Dr. Abdullatif Al Shamsi said the cooperation with Ajman DED reflects HCT’s proactivity in forging effective partnerships with governmental and community institutions. “At HCT we seek to provide the best sponsorship, training, and employment opportunities for our students and graduates, and to promote cooperation in the areas of research, entrepreneurship and project development,” Dr. Al Shamsi said.

He noted this approach is aligned to fourth principle of the Fifty-Year Charter, which sees human capital as the main driver of future growth, and vital to maintaining the UAE's exemplary status.

With the areas of mutual cooperation including innovation, creativity, and entrepreneurship, Dr. Al Shamsi noted that HCT became the UAE's first approved university economic free zone in 2019, enabling it to play a key role in promoting economic activities and encouraging students to develop their innovative ideas and projects. This in turn led to fulfilment of HCT’s mission to create graduating companies and a new cadre of innovators and entrepreneurs.

“As a result of HCT embedding innovation and entrepreneurship in its curriculum, it established the HCT Startup Development Program, which has engaged 2,316 male and female students and launched 108 startups. Twenty-six of those startups have been granted commercial trade licenses, while 20 are operating in the market,” Dr. Al Shamsi said.

“We are thankful to the Ajman DED for this cooperation, as it will support HCT’s efforts in entrepreneurship and startup development. Through the Department’s guidance and leadership, this agreement will provide our students with valuable support and expertise in feasibility studies of innovative projects and also facilitating the procedures for obtaining commercial licenses,” he said.

H.E. Abdullah Ahmed Al Hamrani, Director General of the Ajman DED, said the department has always been keen to strengthen its partnerships with educational institutions in order to grow and develop human capital.

He added the department is eager to sign a memorandum of understanding with the HCT, one of the most important and largest higher education institutions in the UAE, as HCT’s strategic directions converge with those of the Ajman DED, which seeks to achieve sustainable economic development based on knowledge, innovation and future foresight in line with the UAE's strategic vision.

H.E. Al Hamrani added that the agreement included a strategic partnership with the HCT through the sharing of expertise and added benefits, available to both parties through a set of pillars, particularly the development of human capital and the attraction of a cadre of talented HCTT graduates. These are aligned with the UAE’s strategic directions, which aim to implement Emiratisation policies and preparing national talents to ably lead the competitive knowledge and digital economy.

He also noted that the HCT partnership includes collaboration in areas of applied economic research, studies, policies and entrepreneurship in sustainable economic development, so as to create an economic community that would attract investments.

His Excellency added both sides will work together to develop creative and innovative economic projects to motivate UAE Nationals to start their entrepreneurial businesses, thus opening the way for young talents to engage in economic activities and to incubate graduates’ creative and innovative ideas and projects, for the benefit of the national and local economies.