Intellectual property (IP) competition with funding of up to US$500,000 for winners
 
Feb 07, 2020
Category:

- IPHatch® opens in Singapore to attract tech start-ups to grow IP portfolios and create the next Asian unicorns
- Jointly organised by Piece Future and IPI Singapore, and supported by Nokia and Panasonic, it aims to attract local and global start-ups to take part

Singapore, February 4, 2020 - The Singapore government’s 10-year IP Hub Masterplan to groom Singapore into a
global intellectual property (IP) hub will get another shot in the arm with the latest edition of the IPHatch® Challenge.

IPHatch®, which is jointly organised by Piece Future Pte Ltd (PF) and IPI Singapore, is an open-innovation competition looking for start-ups and entrepreneurs to leverage on IP to provide scalable solutions for businesses.

The competition is now open for submissions. Applications will close on March 15, 2020.

Founded in Singapore in 2017 by homegrown entrepreneur, Mr Jason Loh, Piece Future is Asia’s first IP investment bank to help small medium enterprises (SMEs) and start-ups leverage on the power of IPs in their journey towards achieving global success. Mr Loh believes the IP marketplace plays an increasingly important role to boost innovation and drive business growth which in turn create better and higher value jobs for people in Singapore.

IPI, a subsidiary of Enterprise Singapore (ESG) catalyses and enables enterprises to grow their businesses through innovation. It works with enterprises to source for technologies locally and abroad and facilitates technology partnerships to bring new and innovative products and services to the market.

According to the IP Masterplan Update, IP activities are expected to contribute a value add of at least S$1.5 billion to the Singapore economy in the next five years. Mr Loh, Founder and CEO of Piece Future, said, "We want to encourage entrepreneurship and assist promising SMEs and start-ups to turn their ideas into assets. Inventions or brands have little value without IP rights. IPHatch® is a unique initiative that offers patents from Big Tech companies to attract start-ups, businesses and inventors to showcase their innovations, and eventually register their IP assets in Singapore. By doing so, we can grow the value of our IPs and build Singapore into a leading IP centre - not just as a repository of unique IPs but one which usher in higher paying jobs and spur further innovation. We also want to help inventors and start-ups’ to commercialise their dreams to become the next Asian unicorns."

Studies have shown that countries with the strongest IP protections employ large portions of their workforce in higher paying IP-intensive industries. In fact, income per capita is thirteen times greater in countries with strong IP protections than those with weak protections.

IPHatch®: Strong Partnerships and Attractive Bounty to boost Asian innovation IPHatch®, held annually in Singapore and Hong Kong, has outstanding partners, including tech giants such as Nokia and Panasonic, both well respected for their long and established track records in technology innovation and creativity.

Both Nokia and Panasonic will provide their patents to the winners of the IPHatch® challenge for new product development.

IPHatch®' 's Technical Partner, Aztech is a dynamic group with key activities in Electronics Design & Manufacturing. The Group is headquartered in Singapore with support offices in Hong Kong, Malaysia and China (Dongguan, Shenzhen). With over thirty (30) years of design and manufacturing experience worldwide, Aztech is the leader in delivering breakthrough innovation for LED Lighting, Networking and IoT Home Automation solutions. IPHatch® winners are able to leverage on Aztech's capabilities and facilities if they require prototyping and validation of their design at any stage of their start-up journey.

In addition to such assistance as well as mentoring and guidance from tech and business experts, IPHatch® winners will also be able to tap funding support of up to US$500,000.

Since its inception, IPHatch® has attracted participation from several start-ups and SMEs. Out of which, there were 7 winners from Singapore and 8 from Hong Kong.

Information on the winners list and their innovations are found at IPHatch®'s website. https://www.iphatchday.com/regional-successes

To attract budding entrepreneurs and student innovators, IPHatch® has also roped in tertiary institutions such as SMU and Temasek Polytechnic.

Said Mr Loh, "We want to reach out to the young to introduce fresh perspectives and ideas to the tech landscape. By targeting students in tertiary institutions, we aim to help these young entrepreneurs to nurture their lab ideas into commercial assets."

IPHatch®: Participation and Submission

Participation in IPHatch® is free of charge.
To help participants prepare for the competition, they will be invited to IPHatch®
Challenge briefing sessions to be held in February 2020. Details of these sessions can be found at - https://www.iphatchday.com/singapore.

The application criteria and the various stages of the IPHatch® challenge are outlined on the IPHatch® website https://www.iphatchday.com/the-challenge
Applicants are to submit their proposals via the IPHatch® website - https://www.iphatchday.com/sgsubmit19

IPHatch®: Partners list
IPHatch® is working with a list of partners with illustrious track records. The full list of partners can be found at - https://www.iphatchday.com/singapore

About Piece Future
Piece Future is an Asia-headquartered and innovation-driven Intellectual Property bank. We service IP-rich corporations, institutions, SMEs and start-ups worldwide, offering strategic IP banking and innovation services ranging from IP Investment Advisory, IP Asset Management, Capital Advisory and Innovation Platforms.

For media enquiries, please contact:
Stratagem Consultants Pte Ltd
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tmy@stratagemconsultants.com

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