Small and medium-sized enterprises bloodline of UAE economy

27/04/2017 05:52 AST

Small and medium-sized enterprises, or SMEs, are the “bloodline” of the UAE economy, delegates from the UAE Pavilion have emphasised across activities at Hannover Messe, where Emirati innovators are exhibiting to large international audiences.

As the world’s largest industrial technology and manufacturing trade fair, the week-long event has been providing a unique platform to expand on opportunities for some of the UAE’s growing SMEs in international markets.

Among the 26 private sector organisations and government entities taking part in this year’s annual event, are a number of growing UAE-based SMEs that provide the country with sustained growth, economic diversification and job creation.

In addition, Hannover Messe has provided UAE government departments with a unique platform for showcasing the advantages of operating out of the UAE. Faisal Al Hmoudi, Director of the Department of Economic Development’s Takamul programme, spoke to a crowd of international businesspeople at a special innovators forum, where he presented on the Takamul programme.

Launched in 2011 to encourage and facilitate the local application of innovative technologies, Takamul supports industry start-ups and SMEs “from ideas to application”, bringing theoretical concepts to life, Al Hmoudi explained.

He also told the audience of the financial and legal support offered by Takamul in applying for international patents, with 187 being filed in the US through the programme so far. A large number have stemmed from vital sectors that support economic diversification agendas, such as ICT, which accounts for 38 per cent of intellectual property protection filings, and the medical field with 16 per cent of applications.

Another central objective of the programme is to strengthen relationships between industry players and academic institutions, in order to address needs for the latest technological applications, as well as contributing to broader national capacity development goals.

The Gulf Today