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IPOS announces multiple initiatives to help enterprises commercialise IP, including a one billion dollar innovation fund

In line with the recommendation of the Committee On the Future Economy (CFE) report earlier this year to strengthen Singapore’s innovation ecosystem and build capabilities to help enterprises innovate and scale up, the Intellectual Property Office of Singapore (IPOS) announced a series of initiatives in collaboration with partners in the business and finance community.

Mr. Daren Tang, Chief Executive of IPOS, said, “Our focus must shift to IP commercialisation, to allow our enterprises to use IP strategically for growth and global expansion. We are also working with partners from various sectors who are likewise focused on enterprise growth and aligned with our vision of IP. With these new areas of focus, IPOS will evolve beyond our traditional role as an IP registry and regulator to become an innovation agency.”

One billion Dollar innovation fund – “from Singapore and through Singapore” approach

IPOS and home-grown private equity firm, Makara Capital have launched a S$ 1 billion fund to help innovators and enterprises translate their ideas into assets and support their expansion into world markets using Singapore as a base.

The Makara Innovation Fund (MIF) will invest in small-to-mid cap companies from anywhere in the world, including Singapore, that demonstrate proven and defensible intellectual property/technology, differentiated sector positioning, strong management and pan-Asian growth potential.The average ticket size of investments would be S$30 million to S$150 million.

The fund will focus on urban solutions (logistics, security, waste management, etc.), advanced technologies (AI, big data, cybersecurity, nanotech, etc.), fintech, alternative energy, healthcare and bio-med.

Updates to the IP Hub Master Plan

The IP Hub Master Plan was released in 2013 to develop Singapore as a global IP hub in Asia for IP Transactions and Management, Quality IP Filings and IP Dispute Resolution.. To support the CFE’s recommendations, IPOS and the Ministry of Law have updated the Master Plan.

Recommendations have been made to address gaps in the areas of IP creation, protection and commercialisation, along the verticals of expertise, regime and marketplace. For example to address the high cost of IP enforcement, cost effective options for businesses for IP dispute resolution have to be enabled. To meet the need for stronger returns from R&D investments, a national IP protocol and whole-of-government Master Research Collaboration Agreement (MCRA) can be developed.

It is estimated that the initiatives in the IP Hub Master Plan will inject at least 1.5 billion dollars value-add into the national economy over the next five years. The number of skilled IP experts will be doubled to 1,000 over five years to support the growing demand for innovation expertise. Other targets include achieve efficiency ratio rank of 65 in WIPO (World Intellectual Property Organization) Global Innovation Index in 5 years and helping 1,500 companies understand the value of their IP by 2019. Singapore was ranked 6th in the 2016 Global Innovation Index, with a score of 59.6.

Engagements with companies will be stepped up to help local innovators and businesses identify and understand their IP, and use it for growth and expansion.
Access to IP knowhow and tools

MoU with Singapore Business Federation

IPOS signed a Memorandum of Understanding (MoU) with the Singapore Business Federation (SBF) to collaborate in driving enterprise growth through IP and innovation. The MoU will help SBF’s 25,000 member companies to build IP awareness and competencies. They will also gain direct access to IPOS’ suite of IP services, such as training, executive education and complimentary IP clinics.

SBF and IPOS will jointly organise annual IP and innovation seminars and events to promote the understanding and appreciation of IP and innovation amongst Singapore-based businesses and enterprises. IP-related content, including case studies and commentary stories will be shared by IPOS and SBF to help local enterprises understand how value can be extracted from their intangible assets.

SBF and IPOS will collaborate on research projects and studies and they will collaborate to help companies take their IP abroad. SBF and IPOS will collaborate on programmes and events to help companies take their IP abroad.

Collaboration with an international IP management consultancy firm

Plans were announced for collaboration between IP ValueLab, the enterprise engagement arm of IPOS and EverEdge Global Ltd, an international IP management consultancy firm.

As part of the collaboration, 150 local innovative enterprises will be provided intensive and customised assistance on IP strategy, management and commercialisation over the next three years to help them in their long-term growth and expansion plans.

A new, self-help business portal, www.ipvaluelab.com.sg, will be launched for innovators and companies to access a repository of IP business guides and diagnostic toolkits, so that they can access requisite know-how and tools without additional costs. These resources are expected to help business owners understand the value of their technology, brands, content and databases in a simple and yet strategic manner.

Read the press release here

PARTNER

Qlik’s vision is a data-literate world, where everyone can use data and analytics to improve decision-making and solve their most challenging problems. A private company, Qlik offers real-time data integration and analytics solutions, powered by Qlik Cloud, to close the gaps between data, insights and action. By transforming data into Active Intelligence, businesses can drive better decisions, improve revenue and profitability, and optimize customer relationships. Qlik serves more than 38,000 active customers in over 100 countries.

PARTNER

CTC Global Singapore, a premier end-to-end IT solutions provider, is a fully owned subsidiary of ITOCHU Techno-Solutions Corporation (CTC) and ITOCHU Corporation.

Since 1972, CTC has established itself as one of the country’s top IT solutions providers. With 50 years of experience, headed by an experienced management team and staffed by over 200 qualified IT professionals, we support organizations with integrated IT solutions expertise in Autonomous IT, Cyber Security, Digital Transformation, Enterprise Cloud Infrastructure, Workplace Modernization and Professional Services.

Well-known for our strengths in system integration and consultation, CTC Global proves to be the preferred IT outsourcing destination for organizations all over Singapore today.

PARTNER

Planview has one mission: to build the future of connected work. Our solutions enable organizations to connect the business from ideas to impact, empowering companies to accelerate the achievement of what matters most. Planview’s full spectrum of Portfolio Management and Work Management solutions creates an organizational focus on the strategic outcomes that matter and empowers teams to deliver their best work, no matter how they work. The comprehensive Planview platform and enterprise success model enables customers to deliver innovative, competitive products, services, and customer experiences. Headquartered in Austin, Texas, with locations around the world, Planview has more than 1,300 employees supporting 4,500 customers and 2.6 million users worldwide. For more information, visit www.planview.com.

SUPPORTING ORGANISATION

SIRIM is a premier industrial research and technology organisation in Malaysia, wholly-owned by the Minister​ of Finance Incorporated. With over forty years of experience and expertise, SIRIM is mandated as the machinery for research and technology development, and the national champion of quality. SIRIM has always played a major role in the development of the country’s private sector. By tapping into our expertise and knowledge base, we focus on developing new technologies and improvements in the manufacturing, technology and services sectors. We nurture Small Medium Enterprises (SME) growth with solutions for technology penetration and upgrading, making it an ideal technology partner for SMEs.

PARTNER

HashiCorp provides infrastructure automation software for multi-cloud environments, enabling enterprises to unlock a common cloud operating model to provision, secure, connect, and run any application on any infrastructure. HashiCorp tools allow organizations to deliver applications faster by helping enterprises transition from manual processes and ITIL practices to self-service automation and DevOps practices. 

PARTNER

IBM is a leading global hybrid cloud and AI, and business services provider. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs and gain the competitive edge in their industries. Nearly 3,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and business services deliver open and flexible options to our clients. All of this is backed by IBM’s legendary commitment to trust, transparency, responsibility, inclusivity and service.

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