Protecting innovation: Patent strategies for MedTech start-ups in Singapore

In today’s innovation-driven economy, a medtech start-ups success is largely determined by the strength and value of its IP portfolio. Having strong IP protection, such as patents, prevents competitors from copying their inventions and thus provides medtech start-ups with a competitive edge in the market. In addition, a strong patent portfolio can also help in securing funding and attract potential investors, partners and customers.

While patenting may be a daunting task, it is critical in facilitating a company’s growth and success. Here are some tips on how to effectively protect your inventions and set yourself up for long-term success in the medtech industry in Singapore.

Conducting patent search and landscape analysis

Before filing for patents, it is important to conduct a comprehensive patent search to assess your invention against the state of the art. This helps to ascertain whether your innovation is new and does not infringe on any existing patents. For example, if you’re working on a new COVID diagnostic test kit, a comprehensive patent search can help determine whether similar inventions already exist. 

Further, you can also conduct a patent landscape analysis to identify gaps in the medtech market and new areas (white spaces) for your start-up to innovate in.

Develop a strategic patent portfolio 

For early-stage start-ups, it is important to ensure that your core technology is adequately and strategically protected. The key is to obtain comprehensive patent coverage around the core technology, which provides flexibility and room to operate in the market. 

Preferably, the patent application(s) to be filed should provide the broadest possible scope of protection over the core technology. To determine the broadest scope of protection, start-ups should take into consideration both their current and future business objectives, as well as the ways their competitors can potentially work or design around the patents.

As the company progresses and the core technology is developed further, start-ups should also consider filing patent applications to cover the incremental improvements, to form a “patent fence” around the core technology. By doing so, it will help them grow their patent portfolio and strengthen their presence in the market. 

File provisional patent application(s)

Depending on where you are in your product development stage, one useful option for medtech start-ups to consider is to file provisional application(s) under Singapore’s provisional patent application system [1]. If you have not finalized the operation, components, or the functionality of your invention, a provisional application is likely the best strategy to protect your invention while you develop the final steps.

Filing a provisional application allows you to secure an early filing date and can serve as an upfront cost-saving strategy due to its lower cost. In addition, it provides a 12-month period to assess the patentability and commercial viability of the invention before committing to higher cost of patent prosecution [1].

Generally, start-ups should consider filing a provisional application to obtain some protection for their invention before launching an MVP (Minimum Viable Product) or making any public disclosures.

Consider international patent protection 

Although foreign patent applications can be expensive, filing in strategic countries can also be crucial to the success of a medtech start-up in today’s global marketplace.  As such, you should consider getting patent protection overseas strategically, such as in countries which are your target markets, and in key manufacturing countries (especially countries where your competitors’ manufacturing facilities are located in). 

Budgeting your IP costs: Take advantage of financial support and incentives 

Managing IP-associated costs is another critical challenge for start-ups. While a patent portfolio can be a medtech start-ups' most valuable asset, the cost to build a strategic patent portfolio does not come cheap. As such, it would be prudent to seek out any available grants and assistance that your medtech start-upmay qualify for. 

In this regard, the Singapore government provides numerous fundings and initiatives that can assist local medtech start-ups with their IP-related costs. For example, the Market Readiness Assistance (MRA) grant helps Singapore start-ups and companies to offset costs associated with expanding into overseas markets, including costs related to securing IP protection [2]. 

Another available financial incentive is the Intellectual Property Development Incentive (“IDI”), which aims to encourage the use and commercialisation of IP arising from R&D activities. Subject to the terms of the IDI, an entity may obtain a concessionary tax rate on a percentage of qualifying IP income derived during the incentive period [3].

Other financial incentives include the Enterprise Innovation Scheme (EIS) which provides tax deductions or allowances for qualifying expenditures such as R&D projects conducted in Singapore, IP registration and acquisition or licensing of IP rights [4]. 

Seek expert advice: Collaborate with patent attorneys to maximise success 

As with any difficult task, having an experienced professional or coach by your side to guide you increases your chances of success. The patent process is similar, and hiring the correct patent attorney might mean the difference between getting a granted patent and your application getting rejected. As such, medtech start-ups should consider partnering with a specialized patent attorney who understands the medtech market and has the proper technical background to assess the invention. The right patent attorney can help start-ups achieve their patent goals and set them on the path to patenting success.

Reference: 

[1] https://www.ipos.gov.sg/about-ip/patents/how-to-register-overview/provisional-application

[2] https://www.enterprisesg.gov.sg/financial-support/market-readiness-assistance-grant

[3]https://www.edb.gov.sg/en/grants/incentives-and-schemes/intellectual-property-development-incentive.html

[4] https://www.iras.gov.sg/schemes/disbursement-schemes/enterprise-innovation-scheme-(eis)