Economic Ministry opens participation for tech innovation project

Economic Minister Mohamed Saeed. | Photo: Island News

The Ministry of Economic Development has opened the participation window for interested parties to take part in a technological innovation project.

The joint initiative by South Korean Invention Promotion Association and Korea’s Intellectual Property Office is titled the ‘2020 IP Sharing Project’ as reported by the Economic Ministry.

Under the ‘2020 IP Sharing Project’ the government aims to seek potential innovators capable of ‘inventing an urgent technological necessity for the island nation.’ The ministry added that the ‘brand strategy and marketing tasks will be carried out under the program’ as quoted by Island News.

The technological innovation must meet a list of curated requirements and then will be pushed for assessment in presence of technological auteurs and related experts of the field. The assessment team will evaluate if the invented piece of technology is ‘energy efficient’ and raw materials used in the inception process can be acquired form the home country.

The evaluation team will assess if the technology possess room for further development as well.

The Economic Ministry has opened participation in this project for non-governmental organizations (NGOs), cooperative societies as well as business and individual entities with advanced technological expertise or knowledge.

The ministry confirms deadline to submit applications for participation is November 8, 2018.

Interested participants can send their applications to Economic Ministry via mail on [email protected].