GoBusiness IP Grow - Celebrating A Year of Impact and Innovation
Empowering Businesses in Singapore with IA and IP Solutions
Navigating the complex world of intellectual property and intangible assets (IA and IP) can be daunting for many businesses. Recognising this challenge, GoBusiness IP Grow was launched in September 2023 as a free self-service platform designed to simplify this journey. The platform helps businesses find the right support to manage and maximise the value of their IA and IP.
A comprehensive directory at your fingertips
For many businesses, IA and IP such as patents, trademarks, and copyrights are critical assets that can significantly boost market competitiveness and revenue. However, understanding what types of services are needed and finding the right providers can often lead to confusion and missed opportunities.
This is where GoBusiness IP Grow steps in. The platform offers access across 20 categories, encompassing both legal and non-legal offerings.
Each service provider's profile includes essential information such as project experience and pricing, helping businesses to find the right fit based on their specific needs and budget - information that is not available on other public platforms.
Impact and Innovation Over One Year
Since its inception, GoBusiness IP Grow has empowered enterprises to make more informed decisions and facilitated business deals in their IA and IP journey.
It has become a valuable resource for businesses, benefitting more than 16,000 users by providing them with information on IA and IP solutions and resources. The platform has received over 2,000 requests from users looking to get in touch with listed service providers. Over 90% of these listed providers have received at least 1 request from users.
According to surveys, at least 10% of listed providers have reported successfully closing deals through GoBusiness IP Grow. Among these closed deals, 80% are in the IP Search and Registration category (such as trade mark and patent services), while 14% are in the Commercialisation and Financing category (such as valuation with IA and IP considerations). Over 60% of registered patent agents firms in Singapore are listed on the platform.
The platform’s two digital advisers have also been used over 2,000 times, helping enterprises identify their IA and IP needs and recommend suitable providers.
The I have an IP Question feature, designed to support enterprises in the early stages of their IP journey, has been gaining interest, highlighting the demand for personalised assistance from the get-go.
Ms Serene Tan, a health practitioner at Ikigai Medical, shared:
"I feel more confident about my IP challenges after using the IP Question feature. The different responses gave me different perspectives.”
Feedback from both enterprises and service providers have been positive:
Matthew English, Partner at Marks & Clerk Singapore: “We are truly grateful for the dedication and effort put into making this platform user-friendly and highly informative.”
Hardik Dobariya, co-founder of manufacturing platform Factorem: “What we found most valuable on GoBusiness IP Grow were the IA/IP service directories… complete with individual hourly rates and areas of specialty… streamlined the process of reaching out to these providers.”
GoBusiness IP Grow’s impact was also highlighted on MediaCorp’s Channel 8 news segment, where local brands Sunnystep and Express Print shared how they used the platform to advance their IP journeys.
Insights Gathered from Platform Data
The platform gathers valuable data from how users interact with it, offering insights into the IA and IP services businesses are looking for and improving the support it provides. As of 1st September 2024, here are some key insights:
Business Challenges:
- The top three business activities for enterprises are launching new products or services, expanding overseas, and investing in R&D/product development.
Overseas Expansion:
- Enterprises in Singapore are most interested to expand into Malaysia, Australia, China, the United States, and Indonesia.
Top IA and IP Services Requested by Enterprises:
- The top five most requested IA and IP services by enterprises from service providers are trade mark agent services, IP strategy consulting, branding strategy services, patent agent services and dispute resolution.
Partnerships and Activities
The achievements of GoBusiness IP Grow were made possible through the strong support of partners and the community. The team has actively engaged stakeholders, reaching over 1,500 participants through various outreach efforts, including prominent events like IP Week @ SG 2024, SME Centre Conference 2024, and INTA’s 2023 Annual Meeting Live+.
During IP Week @ SG 2024, the first-ever Connect @ GoBusiness IP Grow was held, bringing the platform from an online resource to an in-person experience, allowing face-to-face meetings. Enterprises were able to book free 45-minute meetings with service providers at the IP Marketplace. The response was overwhelming, with over 200 meeting requests made, leading to slots being oversubscribed by 200%. Some of these meetings even extended beyond the event.
The enterprises who participated gave highly positive feedback, with more than 90% expressing interest in continuing discussions with the service providers or deciding to engage with them.
Nancy Soon, CEO of drama academy Helen O’Grady Asia Pte Ltd, shared: "This was a great opportunity for small businesses like mine to meet with different service providers for IP assistance."
The GoBusiness IP Grow panel discussions at IP Week also drew over 350 sign-ups, contributing to a strong turnout across both days. The success of both events was fueled by a comprehensive marketing strategy that included offline events, digital ads, email campaigns, and partner collaborations. Strategic content partnerships with platforms like e27 and Tech in Asia also contributed to the strong engagement.
Earlier in the year, the platform continued to build on its momentum by exhibiting at InnovFest x Elevating Founders 2024 with NUS Enterprise and the Singapore Apex Business Summit 2024 with IPOS, further raising awareness and gathering feedback to improve its features.
Additionally, workshops were organised in collaboration with partners like the Heartland Enterprise Centre Singapore and JTC to engage their communities and demonstrate how GoBusiness IP Grow can help them find the right IA and IP solutions and experts.
Fireside chat with partners at a JTC Launchpad roadshow
Awards and Recognition
The platform's success has been recognised, with media features in leading publications such as The Business Times, Lianhe Zaobao, e27, Vulcan Post, and Tech In Asia.
In August 2024, the GoBusiness IP Grow team was awarded the Service Delivery Excellence Award (Agency Level) at the 2024 Public Sector Transformation (PST) Awards, celebrating their innovative and citizen-centric contributions to the IP ecosystem.
Way Forward
By making IA and IP management more accessible, GoBusiness IP Grow continues to contribute to the innovation ecosystem in Singapore, helping businesses thrive in an increasingly competitive global marketplace.
The GoBusiness IP Grow team extends heartfelt thanks to its partner agencies – the Ministry of Trade and Industry and GovTech Singapore – associations, service providers, and enterprise users for their invaluable support.
Reflecting on a successful year, the team is excited about the future of the platform. The commitment to enhancing IA and IP services and fostering innovation remains steadfast.
For media queries or further information, please contact ipgrow@iposinternational.com