The Abu Dhabi Technology Development Committee, TDC, and the Emirates Development Bank, EDB, have signed a Memorandum of Understanding, MoU, to create a long-term partnership to support UAE inventors in the context of TDC's Takamul programme. The partnership underlines the commitment of both entities to develop and promote a culture of innovation in the UAE.
A key initiative from TDC, the Takamul programme is helping the development of technological innovations by facilitating the creation, protection and commercialisation of intellectual property, patents, by UAE individuals, academia and companies.
On the occasion, Ahmed Saeed Al Calily, Director-General of Abu Dhabi Technology Development Committee, said, "The continuous development of human capital in the science and technology sectors and the deployment of tools to support innovation are at the foundation of a knowledge-based economy.
"As we develop initiatives in this area, it is imperative to identify and work alongside the right partners, such as EDB, to jointly provide the support needed by UAE individuals, academia and companies to develop new capabilities and innovate. This in turn supports the realisation of Abu Dhabi's economic vision 2030 and will aid the UAE's ambition to become one of the most innovative nations in the world.
"The Takamul programme has been running successfully with great results for the past 5 years, testified by the more than 110 patents filed internationally under the programme to date", added Al Calily.
The partnership aims to support and synergise with the Takamul programme's different activities, which include supporting inventors in patent filing, evaluating the commercial potential of a technology, advising on the IP protection approach, support the proof of concept and support the strategic need of technology to go-to-market.
Praising TDC's role, Rashed Mahboob, Deputy CEO of the Emirates Development Bank, expressed his gratitude at signing this agreement that emphasises the importance of innovation and the essential part it plays in creating a knowledge-based economy, and transforming innovative ideas into tangible economic value.
"Signing this agreement is part of EDB's clear vision and effective mission to help build a diversified innovation-based economy that enhances the sustainable growth of the different sectors within the UAE. EDB provides innovative banking solutions that achieve sustainable growth for SME's. The bank is also focused on establishing strategic partnerships with all local and federal entities that encourage UAE nationals to establish their own businesses." Mahboob said.
The Takamul programme aims to facilitate the integration of each stage of the innovation cycle, from the generation of ideas to the practical and commercial application of these ideas into products, solutions, and services. The programme supports innovation within technology intensive industries such as health and medical, ICT, clean-tech, semiconductors, oil and gas, energy, advanced materials, infrastructure, among others.