Singapore rolls out $100m IP financing scheme

IP service centre also unveiled.

Senior Minister of State for Law and Education Indranee Rajah announced the roll-out of two new initiatives to help Singapore embrace Intellectual Property (IP). The announcement took place at the official opening of IP 101, the Intellectual Property Office of Singapore’s (IPOS) new one-stop IP service centre.

A S$100 million Intellectual Property Financing Scheme will be launched to support local businesses to use their granted patents as collaterals for bank loans. Targeted at IP-rich and asset-light companies burgeoning in the technology sector, the scheme will open a new avenue for innovative companies to access capital so as to grow and expand.

The second initiative, IP 101, is Singapore’s first one-stop IP service centre to support Singapore with IP. Located at Singapore’s art and culture foci at Bras Basah Road, IP 101 will offer a whole suite of IP products and services for innovators, creators, and businesses in Singapore. Services include IP registration, advisory, education, training, and outreach.

Announcing the launch of a new IP campaign, Ms Indranee said, “‘Embracing IP’ is purposefully couched to bring IP closer to innovators, creators, and businesses. ’Embracing IP’ comprises three key thrusts. They are ‘Enabling local businesses through IP’, ‘Growing Singapore-based businesses with IP’ and ‘Respecting and Caring with IP’.”