Singapore is known for its progressive government, which is committed to helping enterprises reach their potential. With this in mind, Singapore’s Intellectual Property Office (IPOS for short) has partnered with an equity firm of the private type, known as Makara Capital, in order to launch a new fund valued at one billion Singapore dollars.
The fund will be focused on assisting companies which produce intellectual property. Monies from the fund will help these firms with global expansion, once their start-up phases are complete.
MIF is the name of the fund and it stands for Makara Innovation Fund. It’s one of a group of new initiatives which are expected to add over one billion and a half Singapore dollars to the island city-state’s economy. As well, the new initiatives are anticipated to double the amount of experts in the intellectual property niche within the country. At present, there are 500 of these experts in Singapore. Over the next five years, the number should rise to 1000.
Why is Intellectual Property Booming?
This niche is getting monetary support via the government and the private equity firm, Makara Capital, because it has so much growth potential. It’s expected to become a key industry which helps Singapore to grow economically in the future. This information comes from Ms. Indranee Rajah, who is the Senior Minister of State for Law and Finance. She made comments about the potential of intellectual property business matters as the fund was launched.
Singapore features an IP (intellectual property) regime which is very robust and which enables regional companies to utilize IP as a tool to grow. When the fund and other initiatives are utilized, they will assist enterprises with integrating intellectual property into their business plans right from the start. It’s about commercializing the intellectual property of these companies and making them scalable.
This is Part of the IP Hub Master Plan
The new fund fits with the most current version of the IP Hub Master Plan, which was launched during 2013, via the Ministry of Law and Ipos. Measures are designed to fit the suggestions made by Singapore’s Committee on the Future Economy. It’s about strengthening the eco-system for innovation within Singapore and building capabilities which assist companies with scaling up and innovating. This viewpoint comes from Ipos.
Over the next ten to fifteen years, the fund will be focus on investment in ten to fifteen firms. Investments per company are anticipated to range between thirty million and one hundred and fifty million dollars. Companies may have headquarters any place in the world. However, they need to have the right technology and innovation in place and they must have the capacity to make intellectual property assets.
Singapore is a Good Place for Commerce
Aside from having a very low crime rate and plenty of other perks, including good real estate values and a progressive government, Singapore is a wonderful place to do business. Initiatives which support domestic and global businesses are popping up regularly and this new one is definitely impressive.