The Minister of Science, Technology & Innovation Dr. Monica Musenero has urged small and medium-sized enterprises (SMEs) to apply for trademarks, copyright and patent protection in order to experience high growth.
The Minister said this while delivering her opening remarks during the national workshop on intellectual property (IP) for small and medium enterprises in Kampala. The two-day conference was organized by the World Intellectual Property Organization (WIPO) in collaboration with Uganda Registration Services Bureau (URSB) and the African Regional Intellectual Property Organization (ARIPO), with support of the Japan Patent Office (JPO) targeted policymakers, heads of IP offices, IP experts, SME owners and entrepreneurs.
The overall objective of the conference is to highlight the role of intellectual property as a policy tool for economic development, general IP awareness, value of IP for SMEs growth, Institutional IP policies and their implementation, technology transfer and appropriate technology.
“Intellectual property (IP) is your business tool to stand out from the crowd. It allows entrepreneurs like you to protect your innovations, enhance your creativity and investment in know-how and quality of your products,” Musenero said.
The 2022 SME Scoreboard shows that nearly all (93%) SMEs with registered IP rights experienced a positive impact, on their business. SMEs cited improved reputation or image of the company (60 %), better IP protection (58 %), and better long-term business prospects (48 %) due to registering their IP rights.
Mercy K. Kainobwisho, URSB’s Registrar General said SMEs for whom IP is an integral part of their business are more likely to become high-growth firms.
“IP rights are key economic assets in today’s knowledge economy. That’s why SMEs need to build an IP strategy in the early stages of their development,” Kainobwisho said. Ambassador Fukuzawa Hidemoto, Ambassador of Japan to Uganda said IP is an indicator of good management of companies.
“IP rights are essential for creating competitiveness for SMEs, and ultimately Africa’s sustainable growth,” the Ambassador added.
Emmanuel Rugomboka, Counsellor, Division of Africa, WIPO added that IP and intangible assets will help micro, small and medium enterprises (MSMEs) navigate an innovation-driven business model that will support their sustainability.
For any Opinions, breaking news, Exposes, story ideas, human interest articles or Exclusive inside Stories; email Uganda Daily on: [email protected].