SINGAPORE (April 26): Innovators and companies in Singapore with strong Intellectual Property (IP) will soon benefit from a slew of new initiatives that will help them translate their ideas into assets.

This includes the launch of a one-billion dollar Makara Innovation Fund (MIF) by the Intellectual Property Office of Singapore (IPOS) and homegrown private equity firm, Makara Capital.

“MIF will target high-growth companies with strong IP and proven business models, using Singapore as a base for their growth and expansion into world markets,” says IPOS in a press release today.

MIF is set up a private equity investment fund that sources IP-driven companies internationally and capitalises on cross-border regional expansion.

The fund will invest $30 to $150 million across 10-15 IP-rich and high-growth potential companies with globally competitive technologies from anywhere in the world, including Singapore.

These companies will then tap on Singapore’s IP ecosystem to help them deepen their value creation, compete effectively and expand into the global markets.

Employing a “from Singapore and through Singapore” approach, MIF will help to anchor the nation as a destination for ideas to be translated into assets and revenue.

In another initiative, IPOS and the Singapore Business Federation (SBF) have inked a new Memorandum of Understanding to collaborate in driving enterprise growth through IP and innovation.

The deeper engagement between both organisations will help SBF’s 25,000 member companies build IP awareness and competencies, as well as gain direct access to IPOS’s suite of IP services, such as training, executive education and complimentary IP clinics.

IP ValueLab will also collaborate with EverEdge Global, an international IP management consultancy firm, to reach out to more than 150 local innovative enterprises over the next three years, to provide intensive and customised assistance on IP strategy, management and commercialisation, and help them in their long-term growth and expansion plans.

Part of this collaboration will feature the launch of a new, self-help business portal at www.ipvaluelab.com.sg for innovators and companies to access a repository of IP business guides and diagnostic toolkits.

The resources will be pitched at business owners and help them understand the value of their technology, brands, content and databases in a simple and yet strategic manner. Innovators and companies will acquire the requisite IP know-how, and be provided with useful IP management tools without the burden of additional costs.

To recap, IP has been identified as a key driver of Singapore’s economic growth in the Committee on the Future Economy’s (CFE) report.

In response, IPOS and the Ministry of Law have updated the 2013 IP Hub Master Plan to support the CFE’s recommendation to strengthen the republic’s innovation ecosystem and build capabilities to help enterprises innovate and scale up.

For a start, the initiatives in the IP Hub Master Plan is estimated to inject at least $1.5 billion value-add into the nation’s economy, with further benefits as it catalyses more innovation-driven enterprises, in the next five years.

The number of skilled IP experts will be doubled to 1,000 over the next five years to support the growing demand for innovation expertise, and create good, well-paying jobs.