MBRIF is an AED 2 billion federal initiative of the UAE Ministry of Finance, launched by HH Sheikh Mohammed bin Rashid Al Maktoum, to bolster the national innovation ecosystem. It operates in partnership with Emirates Development Bank and focuses on the seven priority sectors of the UAE National Innovation Strategy. In October 2025, MBRIF officially inaugurated its new headquarters in the Dubai World Trade Centre area (Ground Floor, The Offices 2, One Central, Dubai). It is nominated for the WSIS Prizes for its work in fostering enabling environments for innovation.