With innovators at the helm, exciting new discoveries and valuable progress continue to advance. And this year was no different. Key takeaways from 2024 underscore the power of novel discoveries and the importance of enacting and protecting policies that support intellectual property (IP) rights and innovation.

Innovators are meeting the needs for a safer, healthier, and more prosperous world.

This year, World IP Day focused on how innovators are driving progress toward global sustainability goals, such as addressing disease control and food production or reducing greenhouse gases. These examples serve to remind us of the impact innovators have on solving our biggest challenges and leveraging important opportunities.

Threats to innovation only serve to impede progress.

Hurdles impeding innovation come in many forms, whether making it more challenging to patent novel products such as medicines or stripping innovators of their rights through compulsory licensing. This creates an unstable innovation environment that fails to address the root causes preventing the flow of new products and processes to those who need them.

As leaders focus on how to best address future challenges, a strong innovation ecosystem is critical to success.

Innovation is the path to a better future, whether reducing costs and improving lives or preparing for the next major global health challenge. Policies that support the innovation ecosystem—including voluntary and mutually agreed upon technology transfers—enables progress while protecting and supporting innovation.