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The Singapore government has adopted a series of policies and measures to encourage small and medium-sized enterprises to protect their intellectual property rights and provide strong support for the development of small and medium-sized enterprises. This includes establishing a GoBusiness IP Grow platform, enterprise touchpoints, and providing funding.
Liu Yanling, Senior Minister of Government of the Ministry of Trade and Industry and Culture, Community and Youth, outlined the measures taken by the government to encourage SMEs to protect intellectual property rights in response to an inquiry by the official MP Neil Parekh Nimil Rajnikant on Friday (February 28).
She pointed out that the government launched the Singapore IP Strategy 2030 (SIPS2030) in 2021, building Singapore into a global center for intangible assets and intellectual property activities and transactions, and maintaining Singapore's highly recognized IA/IP system.
As part of SIPS 2030, the government also launched the GoBusiness IP Grow platform in 2023 to provide better intellectual property support for enterprises, help them grow and grow globally.
Liu Yanling said that this platform connects enterprises with third-party intellectual property service providers to provide enterprises with help in intellectual property search and registration. Enterprises can also obtain help from intellectual property “commercial clinics” through the platform.
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In addition, in order to help companies use their intellectual property rights to promote business growth, the government has set up more than 15 corporate contacts across the island. These include entrepreneurship accelerators, incubators, and small and medium-sized enterprise centers operated by chambers of commerce and business groups. The Intellectual Property Office of Singapore (IPOS) cooperates with these contacts to support the intellectual property needs of SMEs.
To solve the problem of enterprise protection costs for intellectual property rights, Liu Yanling pointed out that the Enterprise Development Grant of the Singapore Enterprise Development Authority can be used to offset the intellectual property costs incurred by enterprises when developing innovative products. The Market Readiness Assistance Grant of the Enterprise Development Bureau can be used to pay for intellectual property registration fees in overseas markets.
Looking ahead, Liu Yanling said: “The government will continue to support SMEs in using intellectual property to promote local and international growth and consolidate Singapore’s position as a global-Asian node.”
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