How can intellectual property (IP) fuel the innovation necessary to tackle global challenges? World Intellectual Property Day, celebrated annually on April 26, highlights the pivotal role of Intellectual Property (IP) rights in fostering innovation and creativity. This year, the focus sharpens on the connection between IP and the United Nations Sustainable Development Goals (SDGs). The SDGs are a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity by 2030.
Shaping a sustainable future through innovation and IP
IP has the power to spur and amplify the innovative solutions that are so crucial to building our common future. The protection provided by IP rights encourages further research and development, leading to technological advancements and solutions that address pressing global issues such as climate change, health crises, and sustainable development. In that way, IP rights play a crucial role in driving the innovation needed to achieve the SDGs.
The EUIPO is contributing to this cause by supporting innovators and creators on their journey from mind to market. By supporting SMEs and startups, raising awareness of IP and by promoting an IP system that cultivates an environment where innovation and creativity flourish, the EUIPO can ultimately contribute to global progress and sustainable development.
EUIPO Executive Director João Negrão, highlighted the opportunity of World Intellectual Property Day to showcase the central role that IP plays in achieving the United Nations' Sustainable Development Goals for the benefit of everyone. “IP is not just a legal or technical matter: It drives innovation in order to address global challenges and pave the way towards sustainability,” said Mr Negrão, adding “Now, more than ever before, we need to work together to create a culture where IP is valued and protected as an essential component of a successful and sustainable business environment.
The strong link between IP, innovation and sustainability
As interest in sustainability intensifies, the link between IP, innovation, and sustainability becomes more apparent, particularly in the realm of trade mark filings. According to a 2023 report by the EUIPO Observatory, the number of green European Union trade marks (EUTMs) filed in 2021 soared to an all-time high, reflecting a growing commitment to sustainability.
An analysis of a recent joint EUIPO-EPO study sheds further light on the importance of IP for sustainability and innovation. The original study, published in October, showed IP rights are a significant factor in the success of European startups. The data reveals that startups in the sustainability sector not only demonstrate higher engagement in intellectual property (IP) rights activities but also experience greater success in securing financing across various stages, particularly in later rounds. This indicates a strategic emphasis on IP management, underscoring its crucial role in attracting investment in the sustainability sector.