H.E. Ambassador Dr Lansana GBERIE

Hong Kong, China

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

529.   We would like to put on record our appreciation to the co-sponsors for the submission as well as for organising the side event yesterday. Yesterday, we indeed had a lively debate where we explored the difficulties faced by start-ups in securing capital due to the lack of hard assets, as well as what governments and international organisations could do to promote IP-backed finance. For example, raising IP awareness among start-ups and financial institutions, standardisation of IP valuation, review of financial reporting on intangible assets, as well as information sharing. Today, we continued to listen with great interest the different experiences and best practices around the world. We will reflect on these and see how we can create a sustainable ecosystem in Hong Kong, China to promote IP financing.

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