Business - A new billion-dollar fund has been launched to help promising companies with strong intellectual property (IP) to take on global markets.
The Makara Innovation Fund (MIF), a partnership between the Intellectual Property Office of Singapore (IPOS) and Singapore-based private equity firm Makara Capital, was one of a range of initiatives IPOS announced on Wednesday (April 26) to help Singapore's innovators and enterprises translate their ideas into assets.
The tie-up taps into IPOS' strong IP expertise and networks and Makara commercially-driven investment approach, IPOS said.
The initiatives under the Master Plan are estimated to inject at least $1.5 billion value-add to Singapore's economy over the next five years.
IPOS and the Singapore Business Federation have also inked a new agreement to collaborate on driving enterprise growth through IP and innovation.
They aim to help SBF's 24,200 member companies build IP awareness and competencies and gain direct access to Ipos' suite of IP services, such as training, executive education and free IP clinics.
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