Monday, August 28, 2017

Imdaad invests in innovation, sets up R&D dept

Imdaad, a Dubai-based integrated facilities management (FM) solutions provider, has announced plans to set up a dedicated research and development (R&D) department at its head office in Dubai, UAE.

The decision to establish the in-house R&D unit comes as part of Imdaad’s commitment to align its business with the UAE National Innovation Strategy 2021, which recognises innovation and research as fundamental pillars of a knowledge-based, highly productive and competitive economy, the company said.

Jamal Abdulla Lootah, group CEO of Imdaad, said: “With this strategic move, we take a significant step in making our business more self-sustaining by creating a culture of innovation that will give rise to new opportunities and enable us to shape the future of our industry keeping in mind the needs of our customers and the community at large. Imdaad is constantly looking to build its innovation capabilities, and having a dedicated R&D department will allow us to develop and rapidly bring to market breakthrough products and services that will catalyse our company’s growth and contribute to the overall advancement and growth of the FM industry in the region.”

For the first year, Imdaad has committed to spend three per cent of its revenue on setting up and developing a sustained R&D function, and the financial commitment will increase in later years depending on the business needs, he said.

The R&D activities will primarily be focused on three areas – engineering, business, and the environment – with water, renewable energy, fleet, services, and development of indigenous products identified as key areas of priority.

“Imdaad has outlined an ambitious goal of reaching Dh1 billion ($272 million) in revenue within the next three years. We also aim at being the first FM solutions provider in the region to have ownership of intellectual property in the form of patents and copyrights. By facilitating the incubation of innovative products that are made locally in Dubai, the R&D department will play an instrumental role in helping Imdaad achieve its strategic goals and making its business future-ready while positioning the company as an innovation champion that is aligned with the strategic direction of the UAE,” Lootah said.

The R&D team, which will function as part of the marketing department, will collaborate with fresh graduates and students from leading UAE universities, providing an opportunity for young talents, particularly UAE nationals, to develop their skills and gain hands-on research and product development experience.

The Human Capital team at Imdaad, which is tasked with selecting and recruiting talented students from top universities, has established a roadmap for the training and development of the young recruits and interns, with an emphasis on how to identify existing and emerging problems and devise practical solutions to address these problems.

The R&D unit is envisioned as a profit centre, and the marketing department has established a set of metrics to measure its ROI (return on investment). The team will also conduct market research on an ongoing basis to identify issues and challenges in the facilities management business and understand the evolving needs of customers, the company said.  – TradeArabia News Service
 



from Construction Realestate


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