Abu Dhabi: The Ministry of Economy launched on Monday an innovation guideline for companies in the UAE.
The guidelines aims to promote a culture of innovation and deepen awareness on the importance of innovation for economic companies.
It offers guidance for companies in adopting a structure and procedures that can boost innovation.
The initiative coincides with the UAE week of innovation 2016, and was issued under the orders of Sultan Saeed Al Mansouri, Minister of Economy.
Humaid Ali Al Muhairi, Assistant Undersecretary at the ministry for the companies and consumer protection section, said that the first part of the guideline defines innovation, its various forms and important role in the economy, particularly for the small and medium enterprises (SMEs) sector. It also highlights how companies can benefit from innovative practices through the research and development process for commercial products.
The second part of the guideline focuses on the role of innovation in the success of companies, shedding light on the relation between competitiveness, innovation, sustainable growth and conditions for establishing an innovative environment that helps achieve success for companies.
The final part of the guideline refers to some global models that reflect the impact of innovation in the success of companies, providing examples and experiences of companies from Canada, Sweden, South Korea, Germany, Japan, and China.
