Singapore is reinforcing its position as a global leader in intellectual property (IP) and innovation, as highlighted by Dr Tan See Leng, Minister-in-Charge of Energy and Science & Technology, during his speech at IP Week @ SG 2025. The event, themed “Ideas to Assets: Innovating in Times of Change,” underscored the importance of intangible assets, which now account for 90% of the market value of S&P 500 companies.
Dr Tan emphasised the critical role of emerging technologies, particularly Artificial Intelligence, in reshaping industries. He noted that Singapore’s commitment to a strong IP ecosystem is pivotal for businesses seeking certainty and protection for their ideas amidst complex trade and geopolitical landscapes.
The Intellectual Property Office of Singapore (IPOS) has been instrumental in fostering this environment. Singapore’s rise to 4th place in the 2024 Global Innovation Index, up from 8th in 2020, reflects the success of initiatives like the Singapore IP Strategy 2030 (SIPS 2030). This national blueprint aims to strengthen the IA/IP regime and create job opportunities for Singaporeans.
To further support businesses, IPOS launched GoBusiness IP Grow in September 2023, facilitating over 4,500 requests for IP advice. Additionally, IPOS is collaborating with the Franchising and Licensing Association of Singapore to provide practical IP guidance, enabling enterprises to scale internationally.
Dr Tan also highlighted the ASEAN Patent Examination Co-operation’s expansion, which will streamline patent applications across the region. As Singapore celebrates 30 years of key IP treaties, it continues to enhance its international networks, including new agreements with China, the UK, and Switzerland.
In conclusion, Singapore remains committed to transforming ideas into assets, ensuring that innovation drives future growth.
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