The ability to secure and retain the best talents continues to be a critical success factor to remain competitive in the Asia Pacific region. The government of Singapore recently announced a new program to certify and groom up to 500 science, engineering and technology professionals in the next three years to meet the needs of the Intellectual Property (IP) technology sector.
From September 1 the Intellectual Property Office of Singapore (IPOS) has also started serving as a Patent Cooperation Treaty (PCT) International Authority, thus speeding up and strengthening IP protection for Singaporean firms overseas.
Speaking at the fifth Global Forum on Intellectual Property and the official opening of IP Week @ SG 2015, the Minister for Foreign Affairs Mr. Kasiviswanathan Shanmugam, highlighted the importance of this industry, noting how jobs in the IP-intensive sector paid 29 per cent more than jobs elsewhere. It was therefore of paramount importance, he added, to support and protect IP to ensure that people had confidence about IP protection in Singapore, because, he said, "this is the way in which the future is being shaped."
Other measures to support IP in Singapore were also announced, such as the launch of a new IP Technology Consultant Registry. The Singapore Institute of Technology's Enteprise and Innovation Hub is also working with the IP Academy to offer training to create value through IP.