Patents are key to driving and sustaining innovation in this country and help it diversify the economy.
Abu Dhabi’s Technology Development Committee (TDC) launched Takamul in 2007, an initiative to promote innovation and technological advances in the emirate to help develop the economy away from oil and encourage a knowledge-based society.
Many of the projects Takamul supports are by local universities and the Masdar Institute of Science and Technology, but individuals with ideas are also eligible for help.
“The idea was to find ways to support the development of science and technology sectors,” says Enrico Villa, the director of enterprise development and innovation at TDC. “We noticed overall, the lack of a cohesive support system that was able to support innovation from the beginning to something that creates value.”
That was the starting point for Takamul and its aim was to bring together the entire cycle of driving innovation and commercialising it.
To date, it has registered 66 patents. Last year it filed and won 33 patents and this year it has 40 patents in the pipeline already after it opened up its services to the other emirates. All of the patents have been filed in the United States across a broad range of sectors including oil and gas, advanced materials, health care, medical, clean technology and information and communications technology.
“Patents are territorial. We need to pick a country. Since our focus is technology-related inventions, the US is arguably the main global market for technology-related products. It also has a big practice in IP [intellectual property] management and it also serves the purpose of putting the UAE on the global map,” says Mr Villa.
Takamul provides and builds awareness about IP laws and also provides legal and financial support for patent filing. It holds seminars and conferences on the mechanics of IP protection, copyright, trademarks, designs and trade secrets.
It has become the main support system for patents in the UAE, but its advice and guidance goes beyond filing patents to include marketing support, licensing and negotiating to transform ideas into commercially viable and applicable ventures. It essentially bridges the gap from the research and development (R&D) phase to the commercial, although it does not fund any R&D.
While copyright and IP protection laws exist in this country, it has been criticised for not being robust enough.
“The infrastructure is there, but the implementation and execution still requires development. The process takes time, it needs courts and specialists driven by experience,” says Mr Villa.
And as more scientists and inventors embark on research in the emirates, the need to protect their work will become essential.
Success stories to date include a patent awarded to a small team of young engineers for a system that allows a car to be driven using foot pedals only, which could aid some disabled drivers. The UAE University College of Engineering team consisted of Reem Al Marzouqi, 21, a student from the Architectural Engineering Department and the inventor, and her colleagues Hazim Waleed and Husam Haboush.
Another patent, perhaps one less glamorous but no less impressive, is a carbon nanotube created by Professor Yousef Haik of the UAE University in a more economic way using free raw materials. The result is a cheaper production method of this advanced material, which is used in electronics, the aerospace sector and in medical industries, for instance in tissue engineering where carbon nanotubes can act as scaffolding for bone growth, among others.
“Before Takamul there was a skeleton of a programme and no support,” says Mr Haik. “When Takamul started, it helped us a lot. It becomes easier to go and continue to file when you have a culture of patenting, otherwise there are obstacles.”
Takamul’s help in marketing Mr Haik’s invention was “valuable”, but the TDC needs to help create greater awareness of the patents that have been granted, he says.
“The reason I say this is I have done it in the US, several of my patents have been licensed to companies like Johnson & Johnson. TDC can play a strong role in creating a culture in the country for patents and diversification of the economy,” says Mr Haik.
Green Nanotek is working to commercialise the invention and will build a factory in Abu Dhabi to manufacture carbon nanotubes from carbon-rich waste. The Abu Dhabi-based company was established in 2013 and is the first in the Middle East to produce the material.
“We are very interested in producing carbon nano-tubes. We are doing a pilot project with the university and are very interested in the patent as it comes in our line of business,” says Omar Al Tamimi, a board member at Green Nanotek.
The facility will have an initial production capacity of 120 tonnes per annum, with production expected to reach 980 tonnes in successive phases. Production should begin by the end of this year.
For inventors, there is no set time frame from creation to commercialisation. It can take up two years for an invention to reach commercial maturity.
“Our target is to grow patent filings 50 per cent this year and we hope to continue to grow in a similar way over the next years. Our focus is on impact and solutions for global use,” says Mr Villa.
The main challenge is to keep up the pace, says Mr Villa, and to maintain the government’s attention and investment.
“Our role is that of enablers, creating preconditions for innovators to pursue ideas and objectives, that is a key component of any area of a knowledge-based economy.”
thamid@thenational.ae
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Indoor cricket in a nutshell
Indoor Cricket World Cup – Sep 16-20, Insportz, Dubai
16 Indoor cricket matches are 16 overs per side
8 There are eight players per team
9 There have been nine Indoor Cricket World Cups for men. Australia have won every one.
5 Five runs are deducted from the score when a wickets falls
4 Batsmen bat in pairs, facing four overs per partnership
Scoring In indoor cricket, runs are scored by way of both physical and bonus runs. Physical runs are scored by both batsmen completing a run from one crease to the other. Bonus runs are scored when the ball hits a net in different zones, but only when at least one physical run is score.
Zones
A Front net, behind the striker and wicketkeeper: 0 runs
B Side nets, between the striker and halfway down the pitch: 1 run
C Side nets between halfway and the bowlers end: 2 runs
D Back net: 4 runs on the bounce, 6 runs on the full
The White Lotus: Season three
Creator: Mike White
Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell
Rating: 4.5/5
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
Europe’s rearming plan
- Suspend strict budget rules to allow member countries to step up defence spending
- Create new "instrument" providing €150 billion of loans to member countries for defence investment
- Use the existing EU budget to direct more funds towards defence-related investment
- Engage the bloc's European Investment Bank to drop limits on lending to defence firms
- Create a savings and investments union to help companies access capital
COMPANY PROFILE
Name: Kumulus Water
Started: 2021
Founders: Iheb Triki and Mohamed Ali Abid
Based: Tunisia
Sector: Water technology
Number of staff: 22
Investment raised: $4 million
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
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SPECS%3A%20Polestar%203
%3Cp%3E%3Cstrong%3EEngine%3A%20%3C%2Fstrong%3ELong-range%20dual%20motor%20with%20400V%20battery%3Cbr%3E%3Cstrong%3EPower%3A%20%3C%2Fstrong%3E360kW%20%2F%20483bhp%3Cbr%3E%3Cstrong%3ETorque%3A%20%3C%2Fstrong%3E840Nm%3Cbr%3E%3Cstrong%3ETransmission%3A%20%3C%2Fstrong%3ESingle-speed%20automatic%3Cbr%3E%3Cstrong%3EMax%20touring%20range%3A%3C%2Fstrong%3E%20628km%3Cbr%3E%3Cstrong%3E0-100km%2Fh%3A%3C%2Fstrong%3E%204.7sec%3Cbr%3E%3Cstrong%3ETop%20speed%3A%3C%2Fstrong%3E%20210kph%20%3Cbr%3E%3Cstrong%3EPrice%3A%20%3C%2Fstrong%3EFrom%20Dh360%2C000%3Cbr%3E%3Cstrong%3EOn%20sale%3A%20%3C%2Fstrong%3ESeptember%3Cbr%3E%3C%2Fp%3E%0A
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now