Dubai Institute of Technology, Fraunhofer agree set up Intellectual Capital Framework

Dubai, July 27, 2009 (WAM)- Dubai Institute of Technology (DIT), the Research and Development arm of Economic Zones World (EZW), in partnership with Fraunhofer IPK, the leading German applied research organisation, announced the establishment of a framework for Intellectual Capital within the science and technology park.
The agreement, signed by Hamad Al Hashemi, Managing Director, Dubai Institute of Technology and Prof. Dr.-Ing. Kai Mertins, Director at Fraunhofer IPK, will accelerate the progress of knowledge creation in the Middle East.
Intellectual Capital (IC) collectively refers to all resources that determine the value and the competitiveness of an enterprise. IC comprises three key elements, Human Capital, Structural Capital as well as Relational Capital.
DIT and Fraunhofer are also collaborating on other key elements of DIT, including setting up of two core elements of DIT's development plan - the Dubai Institute of Sustainability and the University Programme that will have five faculties, offering Bachelors, Masters and PhD courses.
Designing a business incubation programme to help entrepreneurial companies and the development of a support programme for Small and Medium Enterprises (SMEs) is in the works.
The two sides will also work on the development of the Network of Excellence - aimed at strengthening scientific and technological excellence in specific subject areas and a legal framework for public research institutes in Dubai on Intellectual Property Rights issues.
The development of a framework for the DIT Science Museum, a globally attractive permanent technological scientific exhibition centre, is also among the initiatives planned. DIT, ultimately, will offer a full fledged innovation ecosystem in one place that includes businesses as well as research and learning centres.