Page 213 - MOE ENGLISH PR REPORT - JANUARY 2024

1/25/24, 8:44 AM Latest News
during their initial years of operation. The project recognizes the value and significance of

intangible assets, which serves as a crucial foundation for these companies' eligibility to

secure funding. The Minister of Economy also highlighted that the establishment of this
committee aligns with the global trend that enables startups to obtain financing based on the

value of their intangible assets.

In addition, H.E. explained that the ‘Patent Incubator’ project deals with the documentation of

the patent registration process in all seven emirates. It clarifies all roles and responsibilities

involved in obtaining intellectual property rights. The project will provide support to innovators
and encourage them to apply for patents, thus protecting their inventions and enhancing the

value of their ideas. The implementation of the project will be a collaborative effort between

MoEc and other competent authorities and organizations involved in intellectual property,

scientific research, and patents in the country.

The Intangible assets finance committee will offer comprehensive assistance to SMEs in the
UAE, thus enhancing their competitiveness and sustainability. Additionally, the project seeks

to introduce international best practices, strengthen SME-financing in the country, and

facilitate the growth of their businesses. As such, the project plays a crucial role in solidifying

the UAE's position as an investment-friendly market that fosters production, growth, and

venture capital practices.

The ’Patent incubators’ project will contribute to boosting patent registration rate at research

and innovation centers and streamline the procedure for obtaining patent rights. This project

will also offer assistance to innovators, talents, and creative people by fostering collaborations

with scientific research community, intellectual property rights, and SME-owners.

The Ministry of Economy offers both individuals and companies the convenience of
registering their patents and industrial design applications online via its official website. The

registration page can be accessed by visiting the following link:

https://services.economy.ae/m/Pages/CategoryServices.aspx?CategoryID=14&lang=ar-AE.

This website provides a range of services, including the option to submit a request for patent

registration, utility model registration, and industrial design application.

https://www.arabbnews.com/english/Latest-News.asp?id=17171 3/4