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The Ministry of Economy has launched the 鈥楶atent Hive鈥� initiative to enhance patent approval rates, encourage innovation, and inspire individuals to submit patent applications. By lowering registration costs and speeding up the patenting process, the initiative aims to significantly increase the number of patents registered in the UAE, boosting the nation鈥檚 competitiveness in both regional and global innovation and creativity.The initiative was unveiled during an event organised by the Ministry, which brought together representatives from universities and research centres to discuss strategies for supporting the initiative. The event highlighted the importance of public-private sector collaboration in achieving its goals and explored opportunities to engage students, innovators, and research centres through targeted incentives and partnerships.H.E. Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy, highlighted that, under the UAE鈥檚 wise leadership, the country has made substantial progress in advancing the intellectual property (IP) sector, which plays a vital role in the growth of the national economy. The UAE has cultivated an environment conducive to IP protection across various fields, focusing on adhering to best global practices in patent registration and documentation. The nation has also introduced numerous initiatives to foster innovation, research, and development.H.E. Al Saleh stated, 鈥淭he Patent Hive initiative is a significant step in the Ministry of Economy鈥檚 efforts to create a supportive environment for creativity and innovation. It is designed to attract individuals with groundbreaking ideas and projects from key economic sectors and aligns seamlessly with the 鈥榃e the UAE 2031鈥� Vision, which seeks to position the UAE as a global leader in the new economy. Moreover, the initiative aims to position the UAE among the top 15 countries on the Global Innovation Index (GII).鈥漈his initiative is part of the broader IP ecosystem introduced by the Ministry at the start of last year, in collaboration with the public and private sectors. This ecosystem represents a key milestone in the UAE鈥檚 shift towards a knowledge-driven, innovation-based economy.The Patent Hive initiative includes a variety of strategies designed to streamline the patent registration process. The primary goal is to reduce the time required for patent registration from 42 months to just six months. The initiative also aims to increase the number of registered patents from 4,481 to 6,000 by 2026, further establishing the UAE as a global hub for innovation.To encourage innovation among students and young scholars, the initiative offers several incentives, including reduced registration fees for students and a zero-cost policy for individuals under the age of 21. These measures aim to foster collaboration between the UAE鈥檚 scientific research sectors, universities, and small to medium-sized enterprises (SMEs).Additionally, the initiative features specialised training programmes and technical consultations provided by the Ministry in partnership with the World Intellectual Property Organization (WIPO). These efforts are focused on building the capabilities of the local workforce and raising awareness about the importance of IP. The initiative also aims to develop a manual to facilitate coordination and joint operations between the Ministry and the scientific research sectors, defining roles and responsibilities to ensure high-quality outcomes.The event also marked the signing of memoranda of understanding (MoUs) with various universities, research centres, and participating entities to promote collaboration and align efforts towards achieving the initiative鈥檚 objectives. These agreements will establish performance indicators for research outcomes and assess their impact on increasing the number of registered patents in the country.