Singapore gives Study Award to grow talent pool for intellectual property sector
According to the official government press release, Singaporeans interested in advancing their Intellectual Property (IP) careers can now look forward to the new SkillsFuture Study Awards for the IP sector.
Administered by the Intellectual Property Office of Singapore (IPOS), the new Study Awards will benefit working professionals who are seeking to acquire or update their IP skills and knowledge to value-add in the innovation-driven economy.
The Study Awards will equip the Singapore’s workforce with essential skills to meet the increased demand for IP human capital by innovation-driven enterprises and sectors. These essential skills include knowledge in technology trends, business data and the relevant legal framework.
Singapore’s priority in developing its IP industry was mentioned in the Committee of Future Economy (CFE) report which outlined the importance of innovation in growing the city-state’s future economy.
According to the official announcement, Mr Daren Tang, Chief Executive of IPOS, said his organisation will “help to build a community of experts who are not only technically strong in IP knowledge, but also skilled in using it to help companies drive business growth.”
The objective to grow a pool of IP talents is also outlined in the updated IP Hub Master Plan. According to the Plan, Singapore is targeting to expand and grow the size of industry-ready IP professionals to 1,000 in the next 5 years.
Up to 60 SkillsFuture Study Awards will be available for the IP sector. Successful applicants will each receive S$5,000 to defray out-of-pocket expenses associated with their training courses. The Award is bond-free and can be used on top of existing Government course fee subsidies such as the SkillsFuture Credit and SkillsFuture Mid-Career Enhanced Subsidy.
As IP jobs are specialised and resilient, the new Study Award will help upskill mid-career Singaporeans and further their training for a rewarding career in innovation-driven industries and the knowledge economy.
The IP-related courses that are eligible for the Study Award include the Master of IP and Innovation Management and Graduate Diploma in IP and Innovation Management (Patent Agency) administered by the Singapore University of Social Sciences (SUSS), as well as the Master of Science (Intellectual Property Management) and Graduate Certification in Intellectual Property Law jointly administered by the National University of Singapore (NUS) and IP Academy Singapore (IP Academy).
According to Mr Kok Kitt-Wai, Executive Director of IP Academy, “enterprises of the future will see that most of their value being increasingly built around their intangible assets and IP.”
To address the anticipated growing demand from the industry, IP Academy, the training arm of IPOS, will also introduce new courses and programmes under the Study Awards. Other than specialised courses and training for IP professionals, it will offer introductory programmes for working professionals who are considering making a career switch to IP sector.
The Study Award is now open for application until 31 December 2018. Evaluation of applications is ongoing and on a first-come-first-served basis, until the awards have been fully given out.