RAK Energy Innovation Competition – SME Edition

The Ras Al Khaimah Energy Efficiency & Renewables Strategy 2040 has been established to support the competitiveness of Ras Al Khaimah by improving energy and water efficiency and increasing the share of renewables in the generation mix. As part of this strategy, Ras Al Khaimah Municipality is organising an innovation competition for start-ups and SMEs whose solutions can support in shaping the clean energy future! The competition will provide a platform to showcase innovative solutions and connect with key government and industry players in the UAE.

The objective of the competition is to attract leading start-ups and SMEs across the globe to propose their solutions addressing specific energy challenges in Ras Al Khaimah applicable to the broader MENA region. ​​​

Challenges​​

• Energy Management: Implementation of energy management systems and processes for organisations and/or households. This includes innovative equipment and methods for data gathering, analysis, operation and control of energy and water consuming assets. The challenge covers not only advanced solutions for large industrial and commercial buildings but also low-cost smart solutions for residences.
• Industrial Efficiency: Solutions for the industrial sector that allow higher returns on investment than conventional solutions, such as waste heat recovery from low temperature sources (e.g. below 300℃), alternative fuels, digitisation or electrification.
• Decentralised Energy Systems: New generation, distribution and/or storage solutions that reduce energy costs and/or increase service levels for the provision of electricity and water for buildings and/or mobility. Ideal customers of these solutions should be end-users as opposed to utilities.

Prizes

• Exemption of company set-up fees including visas, for 3 years, under benefit packages provided by RAK Economic Zone (RAKEZ)
• Monetary prize worth USD 27,000 (AED 100,000)
• Opportunity for individual sales pitch meetings with leading government entities and businesses
• Opportunity to join a closed door round-table with selected local government entities and businesses to explore potential collaboration opportunities
• A commercial pilot project in Ras Al Khaimah, upon agreement on scope and terms

Are you a Start-Up or SME?

• Your participation in the Ras Al Khaimah innovation competition is an opportunity to get market exposure and strategic partnerships in the power and water market in the UAE. The evaluation board itself comprises a large panel of leading government and private sector entities with significant interest in energy and water, from either a consumption or generation or management standpoint.

Eligibility Criteria​

• Your start-up or SME is eligible for the competition if it fulfils all of the following cr​iteria:
  • ​The company has a product, service, or solution in the energy, water or mobility sector, that addresses one of the challenges, mentioned above, faced by Ras Al Khaimah,
  • The company has existing project references for its product, service or solution,
  • The company is incorporated and has a public website, and
  • The company has annual revenues of less than USD 20 million.

For more information, visit Government of Ras Al Khaimah.