Intellectual Property. Innovative Economy - IPOS celebrates World IP Day

27 Apr 2017 – On 26 Apr 2017, IP101 – IPOS’ Service Centre – was a hive of activity as over 150 guests from the design and innovation communities gathered to celebrate World Intellectual Property Day (WIPD). Observed globally on 26 April by IP offices every year, WIPD is an international movement aimed at increasing public awareness of the important role IP play in encouraging innovation and creativity.

Themed “Intellectual Property. Innovative Economy”, WIPD was officially opened by Ms Indranee Rajah, Senior Minister of State for Finance and Law, who announced that the First Reading of the Registered Designs (Amendment) Bill was tabled in parliament earlier this month and the amendments are expected to come into force later this year. The Bill will allow more designers to protect their creative works. Using her customised jewellery collection made out of a simple stone as an example, she shared about the transformative value of design, and how a stone that was forged 200 million years ago, could become a thing of beauty through design.

SMS also announced an update to the IP Hub Master Plan to support the work of the Committee on the Future Economy and include a focus on helping local enterprises and innovators to better capture value from their IP. The updates include,

a.      helping more local businesses obtain funds using their IP,
b.      providing more tools and assistance to local businesses to help them better understand IP and develop IP strategies, and
c.      strengthening the pipeline of IP service providers that can provide advice to businesses.

Trade mark certificates were presented to the participants of IPOS’ Mark Your Trade (MYT) initiative, a pilot programme launched with the aim of helping local creators grow their business through IP such as trade mark registration.


WIPD was also followed by three concurrent events targeted at businesses, government agencies and designers.  These are:

a.      Joint SBF-IPOS panel discussion for local businesses on strengthening enterprise capabilities to innovate and scale up through IP.
b.      First Community of Practice on IP Management for government officers meeting.
c.      Joint Design Business Chamber Singapore-IPOS design workshop on transforming enterprises through business design.

An executive summary of the updates can be found in Annex A.

IPOS also took the opportunity to announce the one-billion dollar Makara Innovation Fund and signed a Memorandum of Understanding with the Singapore Business Federation (SBF) to drive enterprise growth through IP and innovation.

The press release can be found in Annex B.