Page 20 - Ministry of Economy - December 2017

12/26/2017 ministry of economy heads 6th meeting of global innovation index executive team – Arab-Asia Journal
enhance the competitiveness of the country regionally and globally in such a way that ensures the

achievement of advanced levels on the Global Innovation Index to serve the directions of the country.

He added that there are many initiatives and steps that have been developed recently to establish an

incubating environment for innovation and creativity. He noted that these efforts mostly focus on small-
and medium-sized enterprises (SMEs) and newly established innovative companies. Among the most

notable are the Ministry of Economy’s efforts to collaborate with concerned entities that have members

on the Global Innovation Index Executive Team to advance the ‘Young Innovative Companies’ initiative.

The initiative provides support for fast-tracking the establishment of new innovative businesses and

enabling them to commence work as soon as possible. It also encourages creative university students to

transform their ideas into marketable commercial projects by providing them with financing facilities and
helping them with procedures for registering patents, licenses, trademarks and other aspects involved in

establishing and doing business.

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