Indoor vertical farming company AeroFarms won the Global Prosperity Award by the Mohammed bin Rashid Initiative for Global Prosperity.
The award is a programme that reinforces corporate social responsibility through science, innovation and entrepreneurship.
Under this programme, New Jersey-based AeroFarms will provide mentoring for four start-ups that were identified as the most disruptive solutions for the Global Maker Challenge, which ended in September last year.
The mentorship programme will include training on food safety and quality-assurance processes, discussions with AeroFarms’ senior leadership team to strengthen organisational structures and ways to improve private-sector engagement, and support with public relations and branding.
The award presents AeroFarms with a chance to “give back and help serve as a role model and inspiration on how to push the boundaries of innovation”, said David Rosenberg, chief executive of AeroFarms.
“We are looking forward to working closely with these young organisations that demonstrate an immense drive to make transformative changes in the world and help them improve operational competitiveness and commercial growth,” Mr Rosenberg said.
The four start-ups identified by the Global Maker Challenge are: Agricycle Global, a vertically integrated supply chain to empower rural farmers; Algiknit, a creator of eco-conscious renewable and biodegradable fibres and yarns; ID2020, a non-profit organisation that aims to develop digital IDs for undocumented people; and Ryp Labs, which aims to reduce food waste by extending the shelf life of fruit and vegetables.
The Mohammed bin Rashid Initiative for Global Prosperity combines the Global Maker Challenge – an online open-innovation platform for innovators to solve specific real-world challenges – and the Global Prosperity Award. It brings together companies, start-ups, entrepreneurs, governments and NGOs.
“By supporting innovators that are creating unconventional solutions to improve the state of the world, the Global Prosperity Award once again underscores the UAE’s commitment towards unlocking new opportunities that can accelerate global good,” said Badr Al Olama, head of the organising committee for the Global Manufacturing and Industrialisation Summit.
“AeroFarms is well recognised in the technology and food security sectors … highly regarded globally for being an innovative and agile organisation."
Established in 2004, AeroFarms was selected for presenting customised support plans to help each of the winning companies overcome their non-financial operational challenges and achieve societal effects.
It is also building a 8,200-square-metre research and development centre in Abu Dhabi, the largest in the world, which aims to advance sustainable agriculture in arid climates.
The company uses plant biology, agriculture and disruptive technology to grow fresh produce and distribute them around the world.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
UPI facts
More than 2.2 million Indian tourists arrived in UAE in 2023
More than 3.5 million Indians reside in UAE
Indian tourists can make purchases in UAE using rupee accounts in India through QR-code-based UPI real-time payment systems
Indian residents in UAE can use their non-resident NRO and NRE accounts held in Indian banks linked to a UAE mobile number for UPI transactions
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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