The Singapore IP Strategy (SIPS) 2030 is a national strategy that supports enterprises and the wider innovation community. It will contribute to Singapore’s position as a global-Asia node of technology, innovation, and enterprise, and support our wider Research Innovation Enterprise (RIE) objectives. Intangible assets (“IA”) and IP also play an important role in Singapore’s economic and industry transformation plans set out by the Future Economy Council and Emerging Stronger Taskforce.
Since the 2013 IP Hub Master Plan, Singapore has made great strides in building an IP ecosystem that supports innovation activities, and is well-connected to global markets. At the same time, the global economy has evolved significantly, where IA and IP have increased in prominence as drivers of economic growth. As a result, enterprises need to be equipped with the tools and know-how to manage their IA/IP effectively for growth.
These developments present an opportunity for Singapore to build on our firm foundations as a legal, financial, and modern services hub and leverage IA/IP to fuel the next bound of value creation and growth.
SIPS 2030 consists of three main focus areas, each addressing a different aspect of Singapore’s economy – i.e., supporting international activities, growing local enterprises, and building a high-calibre workforce.