Small and medium-sized enterprises that hold intellectual property rights can boost their economic value by up to 65 percent compared to those without such assets, according to Abdulaziz bin Mohammed Al-Swailem, CEO of the Saudi Authority for Intellectual Property (SAIP). Speaking at a dialogue session during "Innovation Week," he highlighted the significant financial benefits of IP ownership.
Investment Appeal Multiplied
Al-Swailem explained that SMEs with a patent see their investment appeal increase fivefold, while those with a trademark enjoy a sixfold boost. When both a patent and a trademark are owned, the appeal rises up to tenfold. These figures underscore the critical role of intellectual property in enhancing business value and attracting investors.
Rising Awareness and Compliance
The CEO noted a marked improvement in IP awareness in the Kingdom, rising from 52 percent in 2018 to over 70 percent currently. Compliance levels also increased from 54 percent to 71 percent, reflecting a growing understanding of the importance of protecting intellectual property rights.
He emphasized that intellectual property is a crucial economic pillar that has helped establish numerous businesses in Saudi Arabia and enabled SMEs to increase their value and expand into new markets.
Innovation Week Highlights
Organized by the General Authority for Small and Medium Enterprises (Monshaat) in partnership with the Research, Development and Innovation Development Authority, King Abdulaziz City for Science and Technology, and SAIP, the event coincided with World Intellectual Property Day. Innovation Week featured nine dialogue sessions, 51 entrepreneurial meetings, and over 1,380 consultative sessions. The events drew 72 participants from the public and private sectors and attracted more than 2,345 entrepreneurs and innovation enthusiasts.
The initiative is part of Monshaat’s ongoing efforts to empower entrepreneurs and unlock high-quality investment opportunities in promising sectors, contributing to SME growth and the goals of Saudi Vision 2030.
