SUBSCRIBE: Newsletter

Human Resources



Singapore launches S$1bn innovation fund for IP-driven companies

Don't miss the opportunity to shout about your successes in recruitment and talent acquisition - the Asia Recruitment Awards is
the only regional awards to celebrate the best in-house teams and recruitment solution providers.
Entries open until 22 February 2019! Enter your entries now »

The Intellectual Property Office of Singapore (IPOS) and home-grown private equity firm Makara Capital will be launching a one-billion dollar Makara Innovation Fund (MIF), according to IPOS’ press release last Wednesday (26 Apr).

Commercially-driven, the MIF will target high-growth companies with strong IP and proven business models, leveraging Singapore as a base for their growth and expansion into world markets.

Daren Tang, chief executive of IPOS, said, “IP is key to our future growth and the fuel for an innovation driven economy. Our focus must shift to IP commercialization, to allow our enterprises to use IP strategically for growth and global expansion.”

Following the Committee on the Future Economy (CFE) report, which identified IP as a key driver of economic growth, IPOS and the Ministry of Law have updated the 2013 IP Hub Master Plan to strengthen Singapore’s innovation ecosystem to help enterprises innovate and scale up.

Indranee Rajah, senior minister of state for law and finance, said: “The IP Hub Master Plan is the blueprint for developing Singapore into a Global IP Hub in Asia. IP is going to be an important enabler of Singapore’s growth moving forward.”

ALSO READ: New PCP launched for intellectual property professionals in Singapore

To deliver on the priorities mapped out, IPOS announced several new strategies for Singapore’s success:

Helping enterprises innovate and scale up

IPOS and the Singapore Business Federation (SBF) are collaborating to help SBF’s 25,000 member companies build IP awareness and competencies.

Access to local and international expert IP advisory resources

IP ValueLab will also collaborate with EverEdge Global Ltd, an international IP management consultancy firm, to reach out to more than 150 local innovative enterprises over the next three years, to provide intensive and customised assistance on IP strategy and management.

ALSO READ: P&G to invest US$100mn in Singapore e-centre to develop digital solutions

Photo/ 123RF

HR Masterclass from Human Resources magazine: High-level HR strategy training workshops
led by the world's most respected HR thought leaders & strategists.
Review the 2019 programme here »

Read More News

in All markets by

France to hack 35-hour work week

High costs have led France to amend its legal working period. Will the French soon beat Hong Kongers in clocking in the longest ho..


Leave a Reply

You must be logged in to post a comment.