Toward the end of IFIA World Congress held on March 4, 2016 alongside Istanbul International Invention Fair (ISIF), two Memorandum of Understandings (MOUs) were signed by Mr. Alireza Rastegar, the President of International Federation of Inventors’ Associations (IFIA), and Mr. Akash Bhasvar, the chairman of United Nations Economic and Social Commission for Asia and the Pacific (UN ESCAP) Innovation and Competitiveness Task Force, as well as the Managing Director of SkyQuest Technology Group.

UN ESCAP Innovation and Competitiveness Task Force is committed to promote the active engagement of the business sector in addressing the issues of environmental, sustainable and social inclusiveness in business, in the Asia and Pacific region.

IFIA and UN ESCAP Innovation and Competitiveness Task Force establish the cooperation within the framework of the MOU to disseminate the innovation culture within global ecosystems, accelerate commercialization of high impact innovations, and bring in new solutions to humanities grand challenges.

Moreover, SkyQuest Technology Group is a Global IP focused research accelerator and commercialization organization, profoundly engaged within the innovation ecosystem with myriad stakeholders helping them leverage external sources of R&D and create value from intellectual property.

Pursuant to the MOU signed between IFIA and SkyQuest, the parties will cooperate in innovation exchange, global strategy and commercialization to accelerate high impact innovations like WaterQuest to market.