In today’s digital and knowledge-driven economy, intangible assets such as intellectual property, proprietary data, and know-how are often the most valuable elements of a business. Recognising this shift, Singapore launched the Singapore IP Strategy 2030 (SIPS 2030) in 2021 to strengthen the nation’s IA/IP environment, foster innovation, and support competitiveness.
At the Committee of Supply Debate 2026, Senior Minister of State for Law and Transport Murali Pillai SC reaffirmed that SIPS 2030, now in its second phase, would continue to uplift enterprises and strengthen Singapore’s position as a global IA/IP hub. The second phase tackles more practical challenges: helping businesses unlock IA/IP value, improving valuation methodologies, and modernising IP frameworks in response to emerging technologies such as AI.
Many companies, especially SMEs hold traditional views of IP as merely a legal shield. While they do file patents to protect innovations and register trademarks for their branding, merely having IP rights does not translate to economic benefit. Innovations, while legally protected, are underleveraged and underutilized in commercialisation efforts.
To support firms in managing and strategically using their IP, WIPO and the Association of Small and Medium Enterprises will be establishing the WIPO IP Business Centre @ ASME, which is also the first in ASEAN. Through this centre, SMEs can tap into structured programmes covering IP strategy development and on expansion into overseas markets.
Businesses also face difficulties in valuing their IA/IP, a problem that affects financing, investment decisions, and commercial deals. Unlike physical assets such as property or equipment, IA/IP lack widely accepted, consistent valuation methodologies. This creates uncertainty among banks, investors, and potential business partners.
To address this and as part of SIPS 2030, IPOS has been working with financial institutions, public agencies, and industry partners to develop IA/IP valuation guidelines in collaboration with financial institutions, public agencies, and industry partners. IPOS aims to publish the valuation guidelines this year. Improved valuation frameworks can unlock new financing models, support IA/IP-backed lending, and make firms more attractive to investors.
Another issue that was highlighted is the need to modernise IP frameworks to keep pace with technological change, particularly in areas such as GenAI. SIPS 2030 recognises that our IP regime must evolve so that it both protects creators and supports innovation. Building on prior efforts to raise public and business awareness of how existing copyright laws apply to GenAI, the Ministry of Law and IPOS will conduct a public consultation later this year on potential refinements to IP laws in the context of AI development.
The second phase of SIPS 2030 reflects an evolving approach to IP policy, moving beyond legal protection to ensuring that businesses can meaningfully benefit from their IA/IP. By improving access to advisory support, strengthening valuation frameworks, and proactively addressing the implications of AI, Singapore is positioning itself to remain competitive in an AI-driven global economy.