Singapore: Transforming the Ideas into Assets
‘Intellectual Property is the key to our future growth and the fuel for an innovation-driven economy’ recently claimed Daren Tang, the Chief Executive of the Intellectual Property Office of Singapore (IPOS), before announcing the creation of a new S$1 billion fund intended for innovative companies.
Founded in partnership with the local private equity firm Makara Capital, the news funds, called the Makara Innovation Fund (MIF), aims at providing access to the markets and thus to the capital to innovative companies, allowing them to benefit from funding from S$30 million to S$150 million over the next 10 years. The applicant companies, whether local or foreign, must demonstrate that they meet the criteria of high-growth potential, unique product as well as competitive technologies in order to be selected.
This initiative aims at helping “local and foreign enterprises transform their ideas into assets” and develop their intellectual property to face global competitiveness while making Singapore an innovation ecosystem. The beneficiary companies must indeed use Singapore’s intellectual property infrastructure. The Makara Innovation Funds thus invests in intellectual property development in Southeast Asia.
[Source: channelnewsasia.com]Contact us