UAE's Minister of Economy Unveils Visionary IP System for a Knowledge and Innovation Economy

10x Industry

Mokshita P.
10x Industry
Published:

UAE's Minister of Economy Unveils Visionary IP System for a Knowledge and Innovation Economy

The Ministry of Economy unveils an IP system comprising 11 initiatives to boost innovation, protect IP rights, and economic growth, aligning with the "We the UAE 2031" vision. Notable initiatives include the Innovation Hub, Patent Hive, and the IP SPORT initiative. The system aims to elevate the UAE's standing in the Global Innovation Index by knowledge and innovation-driven economy.

The Ministry of Economy unveiled its innovative intellectual property system, comprising 11 integrated initiatives spanning various fields and applications. The move aims for the innovation and creativity landscape within the UAE, boosting an environment conducive to inventors and creators for transforming entrepreneurial ideas into innovative business opportunities.

The launch event, graced by H.E. Abdulla bin Touq Al Marri, Minister of Economy, and H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry, brought together representatives from federal and local government entities, academic institutions, and research organisations. Collaborators included the Ministry of Culture, Ministry of Climate Change and Environment, Ministry of Industry and Advanced Technology, and others.

Minister of Economy, H.E. Bin Touq, emphasised the UAE's commitment to becoming a knowledge and innovation-driven economy, aligning with the "We the UAE 2031" vision. The IP system, powered by AI technology, is designed to provide robust protection to intellectual property rights, reduce violations, resolve disputes, and enhance services for patent registration.

The newly introduced IP system comprises 11 initiatives, showcasing the government's dedication to nurturing an innovation ecosystem. Notable initiatives include:

  • Innovation Hub: An online incubator platform to guide UAE creators through the patent registration process, in collaboration with the Emirates Association for Talented.

  • Patent Hive Initiative: Aiming for 6,000 new patent registrations by 2026, this initiative promotes participation in patent applications, working with research and academic institutions.

  • Emirati ‘Fahes’ (Examiner) Initiative: A collaboration with the Emirati Talent Competitiveness Council to enhance the skills and competitiveness of Emirati talents in intellectual property.

  • InnovLAB Initiative: Focusing on strengthening innovation incubators and supporting their competitiveness.

  • InstaBlock Initiative: Swift enforcement of intellectual property rights in livestream copyright infringements.

  • IP SPORT Initiative: Aimed at increasing registered trademarks in the UAE's sports sector, boosting awareness of intellectual property rights.

  • One Day TM Initiative: An expedited service for trademark registration, aiming to increase the registration rate in the UAE.

  • IP Platform Initiative: A consolidated digital platform connecting data from various government departments responsible for enforcing intellectual property rights.

  • ‘Hayyakom’ Initiative: Geared towards boosting the UAE's appeal to global companies and enhancing its brand image.

  • IP School Initiative: Developing a comprehensive portfolio of training programs for intellectual property endorsed by WIPO.

  • Virtual Character ‘Aisha’: A virtual personality raising awareness on intellectual property rights through engagement on social media platforms.

The Ministry reported notable increases in trademark registration applications and intellectual works in 2023. Patent applications witnessed a 19.5 percent surge, with 5,108 patents registered, marking a 13.7 percent increase from the previous year. These indicators highlight the growing significance of the UAE in the global innovation landscape.