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1/26/24, 4:28 PM Pioneering intellectual property and entrepreneurship: UAE introduces two new initiatives
UAE’s focus on entrepreneurship and intellectual

property

His Excellency Abdulla Bin Touq Al Marri, UAE minister of economy, said that the UAE, under the guidance of
its wise leadership, has paid great attention to the development of the entrepreneurship and intellectual property
sectors in accordance with international best practices, as strategic sectors to shift towards a new economic model
based on knowledge and innovation.

In this context, the Ministry is keen to develop and establish projects in new economic sectors, especially since
the iniatives “Intangible Assets “Financing Committee and “Patent Incubator” represent a new step towards
enhancing the intellectual property environment, providing growth opportunities for start-ups and supporting the
growth of their businesses, enhancing the UAE’s position as a leading global platform for entrepreneurship and
innovation, in light of the vision “We the UAE 2031”.

Ministry’s efforts to enhance intellectual property

protection

Al Marri stressed that the new initiatives of the Ministry of Economy in the Intellectual Property Sector are a
continuation of its efforts to launch initiatives and projects aimed at enhancing intellectual property protection and
stimulating innovation in the State, encouraging SMEs to grow and thrive, in line with the Ministry’s strategic
directions to achieve leadership and competitiveness in innovation and intellectual property rights.

Al Marri further explained: “‘The Intangible Assets Financing Committee’ is based on facilitating access by start-
ups to financial financing necessary to sustain and grow their business and resolve any financing challenges that
they face, especially in the early years of their operation. This project is also based on our vision of the value and
viability of intangible assets as a key pillar of these companies’ entitlement to financial financing.”

He highlighted that the this committee aligns with the prevailing global trends that recognize the importance of
providing startups with financial support based on their intangible assets.

The Minister announced that the “Patent Incubator” initiative will encompass the documentation of the patent
registration process in the seven emirates, clarifying the roles and responsibilities of each, with the aim of
supporting innovators and encouraging them to secure intellectual property rights for their advancements. This
initiative will enhance the value of their ideas and underscore the importance of safeguarding the intellectual
property of creators and talented patent holders. The project will be executed through collaboration between the
Ministry of Economy, intellectual property agencies, and scientific research and patent organizations in the
country.

Part of the event (Photo Credit: UAE Ministry of Economy)

Recognizing the value of intangible assets

Specifically, the “Intangible Assets Financing Committee” initiative seeks to offer comprehensive support to
SMEs in order to boost their competitiveness and ensure their sustainability in the UAE market. It aims to

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