Page 223 - MOE ENGLISH PR REPORT - JANUARY 2024

UAE Economy Unveils Two New Projects of

Intellectual Property And Entrepreneurship

Latest News

Published on Jan. 23, 2024, 9:59 p.m. by Huda Alkhoori

The Ministry of Economy announced on the 23rd of January 2024, two new projects
in the fields of intellectual property and entrepreneurship, as part of the UAE's efforts
to develop the intellectual property and innovation environment and stimulate the
growth of start-ups and small and medium companies.

The first project includes the establishment of the "Non-Tangible Assets Financing
Committee", with the aim of providing the necessary financial support and financing
for small and medium companies and start-ups. The second project, which is the
launch of the "Patent Incubator", focuses on providing a supportive and encouraging
environment for idea and talent owners.
The announcement was during an event organised by the ministry, attended by Dr.
Abdulrahman Hassan Al Manei, Assistant Undersecretary for the Intellectual
Property Sector at the Ministry of Economy, and representatives from a number of
federal and local government entities and the private sector in the state. The event
was attended by over 150 participants.

UAE Minister of Economy Abdullah bin Touq Al Marri said “the UAE has attached
great importance to the development of the entrepreneurship and intellectual
property sectors in accordance with the best international practices”.

He added, the ministry is keen to develop and establish projects in the new
economic sectors. In particular, the "Non-Tangible Assets Financing" and "Patent
Incubator" projects represent a new step towards strengthening the intellectual
property environment, providing growth opportunities for start-ups and supporting
their business growth, which will enhance the UAE's position as a leading global
platform for entrepreneurship and innovation, in line with the UAE 2031 vision.

Minister Al Marri also confirmed that the "Non-Tangible Assets Financing
Committee" project is based on facilitating the access of start-ups to the necessary
financial funding to maintain their continuity and growth, and to solve any financial
challenges they face, especially in the first years of their operation.

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