The pandemic has impacted everyone, but one group, particularly small and micro enterprises, has been particularly badly struck. Most small businesses had to close their doors due to a lack of digital infrastructure and finance. Some, on the other hand, reacted to the circumstance by becoming stronger than before, setting new standards, and seizing chances.
Small and medium-sized enterprises (SMEs) are an important component that is widely regarded as the engine of economic growth around the world. Simultaneously, many SMEs are unaware of how intellectual property might help them expand. In the past, only tangible assets were valued highly. However, intangible assets like Innovation and Technologies are becoming as significant as tangible assets in terms of adding value to a corporation. Intellectual Property can help SMEs grow globally and become as large as their competitors in all facets of their business.
To honor the dedication of SMEs, the World Intellectual Property Organization has launched the WIPO Global Awards, which seek to recognize SMEs that are utilizing intellectual property to make a difference in the world and may serve as a role model and inspiration to other entrepreneurs and SMEs. The World Intellectual Property Organization’s (WIPO) new global awards programme is a brand new initiative to reward outstanding firms and individuals who use intellectual property (IP) to create a beneficial impact at home and internationally.
It is an incredible opportunity to assist and share our goal of elevating the visibility of hardworking, dedicated, and ambitious SMEs around the country. Small and medium-sized enterprises (SMEs) are credited with stimulating innovation and competitiveness in a variety of economic sectors.
The New Global Award Program, presented by WIPO, will be granted in July 2022 to five small and medium-sized enterprises (SMEs), which will be followed in later years by other groups such as women and youth. Until March 14, 2022, any SME from any of WIPO’s 193 Member States may self-nominate for the award.
The candidates will be evaluated by a panel of seven judges with expertise in intellectual property, innovation, and business from a variety of backgrounds. They will assess a variety of criteria, including the successful commercialization of intellectual property and its good influence on the economy, society, or culture, as well as the diversity of the contenders and their locations.
The winners will subsequently be chosen by a group of judges and will be honored at an awards ceremony during the WIPO Assemblies, which will take place from July 15 to 22, 2022.
The winners will also receive a customized mentorship programme to help them exploit intellectual property for company growth, as well as other forms of support and sponsorship to help them gain access to finance and grow their businesses.
The award will not only recognize and celebrate the new Eco-framework, but it will also urge SMEs to look to the sky. Furthermore, it will compel new enterprises to expand and come up with new innovations and ideas for growth, which the world should recognize. These awards honor some of the world’s most renowned SME experts, pioneers in their professions for their innovative ideas, commitment to customer service, and sheer hard work.