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WIPO Unlocks Practical Benefits for Women-Led SMEs in Bangladesh through New IP Project Launch

WIPO has launched a joint project with the Ministry of Foreign Affairs and Ministry of Industries of Bangladesh to support the practical use of IP as a business tool for over 25 groups of women entrepreneurs from various regions in Dhaka, Bangladesh, on June 4, 2023.

Photo: Rafat Islam

As Bangladesh prepares for graduation from the Least Developed Country (LDC) category, it is crucial to further understand and utilize IP as an enabler for innovation, value addition, and diversification – particularly among women-led SMEs, who face amplified economic hardships.

According to a 2016 International Finance Corporation (IFC) report, out of the nearly 8 million businesses in Bangladesh, 99.93 percent are SMEs, with only a mere 7.2 percent owned by women. This disparity denies women the benefits of being key players in the country's economy, hindering job creation, growth, and development.

During his opening remarks at the project launch, WIPO's Deputy Director-General for the Regional and National Development Sector (RNDS), Hasan Kleib, emphasized the importance of using IP as an inclusive tool for economic growth and sustainable development. He stated, "IP needs to be concretized as a practical development tool, generating tangible and positive impacts for all stakeholders in Bangladesh, especially women entrepreneurs who face challenges in accessing credit due to limited networks, mobility, and links to product supply chains."

Photo: Rafat Islam

Mr. Mohammed Shahriar Alam, the State Minister of the Ministry of Foreign Affairs, also acknowledged the gender-related gaps in SMEs despite women's significant contributions to the business sector. He said, "Our women entrepreneurs contribute to our creative economy in fields such as fashion design, art, music, weaving, handicrafts, and more. We witness a rising trend of creative businesses led by women. However, the intellectual contributions of women-owned businesses remain underappreciated and untapped. Together, we can create an environment where women entrepreneurs thrive, innovation flourishes, and economic empowerment becomes a reality for all."

Photo: Rafat Islam
Photo: Rafat Islam

Overall, the project aims to enhance the knowledge, skills, and use of IP, leading to economic benefits, increased product value, and expanded market access for women entrepreneurs from diverse regions in Bangladesh.

WIPO acknowledges the importance of addressing these challenges and promoting broader access to IP tools and resources for women entrepreneurs and innovators.

Photo: Rafat Islam

Background

The Regional and National Development Sector (RNDS) Projects Team, in close collaboration with the Mission of Bangladesh, the Ministry of Foreign Affairs, and the Ministry of Industries, has developed a project to assist a selected group of women entrepreneurs in understanding, using, and commercializing IP (particularly trademarks) as a tool to support business growth and generate value. The project was launched in Dhaka, Bangladesh, on June 4, 2023.

Photo: Rafat Islam
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