ANNOUNCEMENT 26 Apr 2017
On 26 April 2017, the Intellectual Property Office of Singapore launched the SGD 1 billion (USD 716.6 million) Makara Innovation Fund to build innovation and intellectual property (IP) in Singapore. The fund is meant to develop Singapore into a "global IP hub in Asia."
NUMBER OF INTERVENTIONS
Intellectual Property Office of Singapore, One-billion dollar innovation fund launched in Singapore to drive enterprise growth for our future economy, 26 April 2017. Available at: https://www.ipos.gov.sg/media-events/press-releases/ViewDetails/one-billion-dollar-innovation-fund-launched-in-singapore-to-drive-enterprise-growth-for-our-future-economy/
On 26 April 2017, the Intellectual Property Office of Singapore, in conjunction with domestic private equity firm Makara Capital, launched the SGD 1 billion (USD 716.6 million) Makara Innovation Fund to build innovation and intellectual property (IP) in Singapore. The fund is meant to develop Singapore into a "global IP hub in Asia."
The fund aims to invest SGD 30 million (USD 21.5 million) to SGD 150 million (USD 107.5 million) in 10 to 15 high-growth firms with strong IP and "globally competitive" technologies across the world. Through this fund, the firms will use Singapore's IP industry to increase competitiveness and expand globally.
The fund focuses on the following sectors: logistics, security, waste management, artificial intelligence, big data, cyber security, nanotech, financial technology, alternative energy, healthcare and bio-medical.
In this context, this Ministry of Law stated that "Employing a “from Singapore and through Singapore” approach ... IP is going to be an important enabler of Singapore's growth moving forward. ... Singapore has a strong IP regime, which will enable local businesses to harness IP for growth. We will focus on helping enterprises to integrate IP into their business strategies early, and to commercialise their IP and scale up."
The GTA includes state guarantees and other financial incentives that are likely to affect the restructuring and performance of firms facing international competition, whether from imports, in export markets and from foreign subsidiaries.