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THE Intellectual Property Office of Singapore (IPOS) and home-grown private equity firm Makara Capital on Wednesday launched a billion-dollar fund to help innovators and enterprises translate ideas into assets.
Called the Makara Innovation Fund (MIF), it will target high-growth companies with strong IP and proven business models and using Singapore as a base for their expansion into global markets.
The MIF is one initiative under the updated IP Hub Master Plan to support the Committee on the Future Economy's Report, which has identified IP as a key driver of economic growth.
Other initiatives include a memorandum of understanding with the Singapore Business Federation (SBF) to help enterprises innovate and scale up by providing SBF members with IPOS' suite of services such as training and executive education, as well as reaching out to more than 150 local innovative enterprises over the next three years to provide them with access to local and international IP advisory and management tools.
The IPOS and the Ministry of Law have updated the 2013 IP Hub Master Plan to beef up Singapore's innovation ecosystem and build capabilities to help enterprises innovate and scale up.