Singapore's Journey

4th most innovative economy: Singapore's highest ranking in a decade
Singapore ranked 4th in the Global Innovation Index (GII), by the World Intellectual Property Organization (WIPO). The Index studied over 130 economies across 80 different indicators to measure capacity for, and success in, innovation.

Boosting IP capability among creators and enterprises

• IPOS announced a partnership with NTUC-affiliated association, the Visual, Audio, Creative Content Professionals Association Singapore (VICPA) to raise IP awareness and proficiency among creators in Singapore. The collaboration aims to promote the understanding of IP among freelance creative professionals and youth; help VICPA members to extract and enhance the IP value from their works; and equip creators to manage and commercialise their IP.

• We also continued upskilling initiatives with the World Intellectual Property Organization (WIPO) Academy over another five years to help businesses and IP professionals in the region to use IP as a tool for sustainable growth and development. This followed the success of an earlier Executive Training Programme, which attracted a global and diverse participation across different industries.

• Our partnership with the Maritime and Port Authority of Singapore (MPA) was also extended over another three years to enhance the maritime sector’s IP capabilities, such as training companies and MPA to develop IP strategies, and to help maritime enterprises, startups and research institutions commercialise their IP. 

Intangibles Disclosure Framework (IDF): One of the first of its kind in the world
The IDF is a public-private initiative led by IPOS and the Accounting and Corporate Regulatory Authority (ACRA), to disclose and communicate the value of intangibles assets, such as brand value, patents or registered designs. The IDF is part of the Singapore IP Strategy 2030 and a key step to help enterprises commercialise their IA. Improved IA disclosures can lead to better investment decisions, increased market competitiveness, and strengthen Singapore's position as a global IP and business hub.

GoBusiness IP Grow: One-stop platform to connect enterprises with IA/IP solutions
GoBusiness IP Grow is Singapore's online marketplace for IA/IP services. As a free one-stop platform, it makes it easy for enterprises to discover their IA/IP needs and connect with the right service providers to grow and expand globally.

International Valuation Standards Council (IVSC) launched Asia Office in Singapore
Global valuation standards setter, IVSC, picked Singapore as its first base outside Europe, marking a milestone in Singapore’s growth as an IA hub and Asia’s growing global role in the valuation profession. As trusted IA valuations are important enablers of IA transactions and monetisation, the strong partnership between Singapore and IVSC will catalyse the growth of the valuation industry in Singapore to support innovation and business growth.

Trade Secrets Enterprise guide to support innovators and entrepreneurs
Jointly developed with Action Community for Entrepreneurship, Enterprise Singapore, Singapore Business Federation, Singapore Fintech Association and SGTech, the trade secrets enterprise guide was designed to help enterprises better understand, protect and manage their trade secrets. Case studies and a list of available trade secrets tools were also included.

Updated SG IP Fast and REMPS programmes to help more enterprises protect IP
IPOS streamlined its acceleration programmes to give enterprises a competitive edge as global economies reopened after the pandemic. The SG IP FAST programme was extended to December 2024 with a doubled annual cap of 120 patent applications, enabling more enterprises to receive their patent in as fast as 6 months. Businesses were also supported to resolve IP disputes in Singapore with the Revised Enhanced Mediation Promotion Scheme (REMPS), which provided an increased funding quantum for disputes involving both Singapore and foreign IP rights.

Launch of Singapore IP Strategy (SIPS) 2030
The 10-year blueprint was designed to strengthen Singapore’s IA/IP regime and position as a global IA/IP hub, enable enterprises to use their IA/IP more effectively, and create good job opportunities for Singaporeans. The Singapore IP Strategy 2030 is a Whole-of-Government effort led by the Ministry of Law, Ministry of Trade and Industry, Ministry of Finance, and IPOS, with support from various public agencies.

Enhancing Singapore’s IP regime with a new Copyright Act
The new Copyright Act, which came into force on 21 November 2021, enhances our copyright regime with updated provisions to strengthen the rights of creators and performers, and factors in technological developments that have impacted how content is created, distributed, accessed and used.

New Brand Search feature on IPOS Go Mobile App
The IPOS Go Mobile app launched a new enhancement to help business owners conduct a AI-powered 4-in-1 similar mark searches across business names, trade marks, available domain names, and social media usernames.