UAE launches projects to boost intellectual property and entrepreneurship
The Ministry of Economy has introduced two innovative projects in the realms of intellectual property and entrepreneurship, aiming to fortify the nation's commitment to fostering an environment conducive to intellectual property development and innovation.
These initiatives are designed to stimulate the growth of emerging small and medium-sized enterprises (SMEs).
The first project involves the establishment of the "Intangible Assets Financing Committee," with the primary objective of providing essential financial support and funding for SMEs and emerging companies. The second project, named "Patent Incubator," is focused on creating an encouraging and supportive environment for individuals with innovative ideas and talents within the country.
The announcement occurred at an event attended by various stakeholders, including representatives from federal and local government agencies and the private sector. Notable attendees included the Ministry of Industry and Advanced Technology, the Department of Economic Development in Abu Dhabi, the Ajman Department of Economic Development, and entities like the Advanced Technology Research Council, Dubai Civil Defense, and Dubai Customs.
Minister of Economy Abdullah bin Touq Al Marri emphasized the UAE's commitment to developing entrepreneurship and intellectual property sectors in alignment with global best practices. He highlighted the strategic importance of these sectors in transitioning towards a knowledge- and innovation-based economic model, in line with the "We Are the Emirates 2031" vision.
The "Intangible Assets Financing Committee" aims to facilitate startups' access to essential financial funds, addressing challenges they may face, especially in their initial years of operation. Minister Al Marri stressed the importance of intangible assets as a fundamental criterion for startups to secure financial funding, aligning with global trends.
The "Patent Incubator" project focuses on streamlining the patent registration process across the seven emirates, clarifying roles and responsibilities. This initiative aims to support innovators, encouraging them to seek intellectual property rights for their inventions and emphasizing the significance of property protection.
Both projects are part of the Ministry's broader efforts to enhance intellectual property protection, foster innovation, and support the growth of SMEs. These initiatives align with the Ministry's strategic objectives to achieve leadership and competitiveness in innovation and intellectual property rights.
Individuals and companies can register patent and industrial model applications through the Ministry of Economy's website : https://services.economy.ae/m/Pages/CategoryServices.aspx?CategoryID=14&lang=ar-AE, providing various services related to patent registration and industrial design requests.
