H.E. Ambassador Dr Lansana GBERIE

Singapore

14 INTELLECTUAL PROPERTY AND INNOVATION: ROLE OF IP TO RAISE FINANCE FOR START-UPS

502.   Singapore thanks the friends of IP and innovation and Switzerland for preparing the discussion paper which has been insightful for us. Singapore supports the development of a healthy IP licensing ecosystem. When conducted well, IP licensing is a powerful tool to unlock the value of innovation. Singapore's business environment enables innovative enterprises to seek and secure equity investment from angel investors and venture capital firms. In 2019, venture investments rose to more than USD 9.8 billion, representing a year-on-year increase of 36%. 503.   The Intellectual Property Office of Singapore International recently launched a new "IP Start" programme for accelerators and early-stage start-ups in September this year. This programme will provide free IP advice, training, and resources to start-ups through start-up accelerators and incubators based in Singapore, and to support the integration of IP management into the early stages of their business. 504.   This programme will also complement existing efforts by IPOS to overcome the key challenge of the lack of IP awareness among start-ups and MSMEs. As shared in previous sessions, IPOS has worked with the Singapore Business Federation to provide support to companies in improving their IP literacy and management. IP clinics were also offered to help businesses understand how to protect their IP portfolio through the development of an IP strategy. In closing, IP financing for startups is an often-overlooked area of work and we are happy that this is being discussed at the WTO. We look forward to hearing from other Members experiences.

The Council took note of the statements made.

84. The Chair said this item had been put on the agenda at the request of the delegations of Australia, Canada, Chile, the European Union, Japan, Singapore, Switzerland, the Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu, the United Kingdom, and the United States of America. These delegations had also submitted a communication on this topic, circulated in document in order to allow Members to prepare for today's discussion.
85. The representatives of Switzerland; Japan; the United States of America; Australia; Canada; Chinese Taipei; Singapore; the European Union; the United Kingdom; Chile; Hong Kong, China; Uruguay; Mexico; Switzerland; South Africa; India; China; and Indonesia took the floor.
86. The Council took note of the statements made.

IP/C/M/106, IP/C/M/106/Add.1