Start-ups, Small and Medium Enterprises (SMEs), and youth will get more resources to innovate using their Intellectual Property (IP). They will be able to tap on free IP legal advice, patent drafting and/or prosecution services, resources, and training.
1. IP Start
IP Start will provide free IP advice, training, and resources to start-ups through start-up accelerators and incubators based in Singapore. This will help start-ups to integrate IP management at the early stages of their business. Start-up accelerators and incubators help start-ups in their infancy to succeed by providing workspace, seed funding, mentoring, resources, and training.
Twelve accelerators and incubators have signed up for the first phase, with more to come.
1) Action Community for Entrepreneurship
2) Entrepreneur Hub
3) IES-Incubator and Accelerator
4) Imagine H2O Asia
5) NUS GRIP
6) Origgin Ventures
7) Quest Ventures
10) Singapore Deep-Tech Alliance
11) Trendlines Agrifood Innovation Centre
Enterprises can register for IP Start from today through the accelerators here. IP Start is managed by IPOS' subsidiary, IPOS International.
2. Trade Secrets Guide for Enterprises
A guide has been developed to help enterprises better manage their trade secrets. It contains information on what trade secrets are, how they can be protected/ managed, case studies and a list of trade secrets tools available to enterprises.
A 2021 IPOS survey indicated that 98 per cent of businesses recognised that trade secrets were important for business growth, but only 45 per cent took steps to safeguard their trade secrets mostly due to a lack of knowledge.
The guide was jointly developed by IPOS, Action Community for Entrepreneurship, International Enterprise Singapore, Singapore Business Federation, Singapore Fintech Association and SGTech.
3. Inventor Assistance Programme (IAP)
The Singapore chapter of the IAP will help youth in tertiary institutions secure patent protection. This will help them navigate the patent system efficiently so that they can focus on bringing their ideas to market.
Five volunteer patent attorneys from the Association of Singapore Patent Attorneys will be participating in the first phase with more expected to join in the future. Young innovators or
entrepreneurs can sign up for the IAP by setting up an account with the World Intellectual Property Organization. here. The IAP is expected to be operational in the fourth quarter of this year.
The IAP is a joint initiative between IPOS and the World Intellectual Property Organization (WIPO).
The three initiatives were announced by Minister for Culture, Community & Youth and Second Minister for Law, Edwin Tong SC, at IP Week @ SG 2022, a global IP event. Said Minister Tong:“SMEs play a critical role in the Singapore economy, accounting for 99 per cent of all companies and employing 70 per cent of the local force. Start-ups are also important engines of innovation, generating new ideas, products, and services. To reap the full benefits of their innovations, they need to have the expertise and know-how to secure their IP rights. These initiatives will provide innovators with the resources to help them gain a competitive edge.”
IP Week @ SG 2022 Highlights
IP Week @ SG (6-7 September 2022) is a global IP event held at the Marina Bay Sands Expo & Convention Centre. It will discuss trending topics like IP and non-fungible tokens, cryptocurrencies and the metaverse. The role of IP in promoting innovation for sustainability as well as IA valuation and IP-backed financing are also on the agenda.
The winners of the WIPO-IPOS IP For Innovation Awards were announced at the event. Five companies from the MedTech, fintech and food tech sectors were recognised for the outstanding use of IP in their business (See Annex A for details).
IPOS will sign several Memorandums of Understanding (MoUs) with various partners to boost global IP cooperation. These include:
MoU between IPOS and the Asia Pacific Institute of Experts (APIEx): To promote and train technical and valuation experts for IP and technology disputes. The partnership will raise awareness of the role, relevance, and importance of experts in the field of intangible assets.
MoU between IPOS and The Swiss Federal Institute of Intellectual Property (IPI): To enhance bilateral cooperation in IP commercialisation, training, and exchanges involving frontier technologies.
MoU between IPOS International and SGInnovate (SGI): To upskill and train deep tech startups within SGI's portfolio in IA/IP identification and management.
MoU between IPOS International and China Intellectual Property Training Center (CIPTC): To collaborate on IP education and IP talent development to build an IP-savvy workforce.
Editor: IPR Daily-Ann