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Dubai SME ties up with Taylor Wessing to raise awareness on Intellectual Property and fund-raising among SME100 firms  Join our daily free Newsletter

MENAFN Press - 24/04/2014
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(MENAFN Editorial) Dubai SME, the agency of the Department for Economic Development in Dubai mandated to develop the SME sector, have signed a memorandum of understanding (MoU) with the international law firm Taylor Wessing to raise greater awareness and impart knowledge to Dubai SME100 companies in the areas of Intellectual Property management and fund-raising in capital markets.

Intellectual Property management and fund-raising are complex subjects, which the Dubai SME100 companies have indicated they would like to be educated, particularly around legal due diligence, corporate governance and the regulatory requirements locally and internationally in these areas.

Under the terms of the MoU, Taylor Wessing will organise joint seminars with Dubai SME on intellectual property and IPOs on Nasdaq Dubai as well as offer one-on-one advisory sessions to interested SMEs, with such sessions expected to provide high level feedback on gaps and recommendations to the SME100 companies.

Launched under the patronage of His Highness Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, Dubai SME100 identifies the top-performing SMEs in Dubai to help groom them into bigger and more sustainable enterprises, and support them through their growth into larger, internationally-oriented companies.

Commenting on the partnership, Abdul BaseAl Janahi, Chief Executive Officer of Dubai SME said that the development of the Dubai and UAE economy, and the emerging opportunities and trends demand that local SMEs deepen their awareness of Intellectual Property management issues as a means to innovate for further growth.


"With respect to access to finance, our top SMEs should also explore the possibility of raising funds in the capital markets, not just through private equity or bank financing. We have the trading platform through Nasdaq Dubai, and our growth SMEs should tap this opportunity to raise new financing streams and build global brands though IPOs. It will also make Dubai the destination to raise equity capital for good quality SME businesses. Dubai SME is therefore pleased to partner with Taylor Wessing in these two critical areas as major corporate strategies for SME development," Al Janahi added.

Ben Constance, Partner of Taylor Wessing's Dubai office said: "Taylor Wessing is very pleased to be in partnership with Dubai SME. Collaborating with the SMEs in Dubai is an exciting project for us. The SME sector in Dubai is clearly a thriving and dynamic segment of the economy and one, as a professional advisory firm, we interact with regularly. We hope that offering international standard advice to SMEs will help SME100 companies to develop further and attract funding to take them to the next stage of their growth cycle."


About Dubai SME
Dubai SME, an agency of the Department of Economic Development (DED), Government of Dubai, aims to foster an entrepreneurial culture and develop a competitive SME sector for the Emirate of Dubai. The key strategies adopted by Dubai SME are: advocate a pro-business environment for developing entrepreneurship and SMEs, seed innovative start-ups and groom promising SMEs. Dubai SME's vision is to make Dubai the center for innovative SMEs to start, grow and expand their businesses, thus adding greater value to the economy of Dubai. For further information, please contact:Faisal ShamsudheenMarketing & Communication DepartmentDepartment of Economic Development Tel: (971 4) 361 3070Email: faisal.pathiasseri@dubaided.gov.aeAbout Taylor Wessing: Taylor Wessing is an elite international law firm, with 23 offices in 13 jurisdictions and some 950 legal advisers and are 'Law Firm of the Year 2013' as voted by The Lawyer. We offer our clients a streamlined and integrated global service across the Middle East, Africa, Asia, Europe, India, North America and Brazil. The firm has been operating in the MENA region for over 15 years and is able to offer clients advice that is based on strong regional experience with the highest global standards. Taylor Wessing is proud to have been an instrumental part of developing the region's legal system and supporting groundbreaking business initiatives such as partnering with Dubai SME. Developing the MENA legal system:Assisting the Legal Affairs Department in the drafting of a Maritime Code for Dubai;Advising on the establishment of the first investment structure under the DIFC's new Collective Investment Funds regime, enacted in 2010; andBeing the first law firm to arrange registration of a pledge over company shares at the Dubai Department of Economic Development as a recognised form of security interest. For further information, please contact:Amanda ElsonBusiness Development DirectorTaylor Wessing (Middle East) LLP Tel: 04 309 1000Email: a.elson@taylorwessing.com

 


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