Photo caption: Signatories of MoU on behalf of Maritime and Port Authority of Singapore (MPA) and IPOS International: Mr Teo Eng Dih, Chief Executive of MPA (centre left), with Mrs Rena Lee, Chairperson of IPOS International and Chief Executive of the Intellectual Property Office of Singapore. (centre right)

SINGAPORE, 28 August 2024 — Today, IPOS International and the Maritime and Port Authority of Singapore (MPA) signed a strategic Memorandum of Understanding (MoU) to advance Singapore's maritime innovations. Operating in a landscape where more than 80% of global trade is powered by maritime routes, this MoU establishes a robust framework aimed at accelerating the maritime sector's growth through intellectual property (IP) strategies.

Building on previous collaborations, the MoU focuses on intensifying capability building and data-driven R&D. It seeks to use IP as a key growth indicator, integrate advanced IA and IP skills into targeted maritime training programmes, and collaboratively develop maritime-focused content for the Tech Insights through Patents (TIP) tool. This agreement is designed to propel technological advancements and enhance competitive advantages, thereby reinforcing Singapore's role as a global maritime leader. Importantly, the MoU aligns with the Singapore IP Strategy 2030, enhancing Singapore's stature as a global hub for technology and innovation while supporting the nation's broader economic transformation goals.

This strategic MoU zeroes in on three key areas:

• Empowering Maritime Startups and Enterprises for Global Business:
  The partnership is set to strengthen the global competitiveness of maritime startups and enterprises through specialised training and IP management resources. Initiatives such as targeted support for PIER71 startups will equip emerging enterprises with the essential tools they need to thrive in the global marketplace, leveraging IP as a cornerstone of their business strategy.
  
  
• Enhancing IP Management to Support R&D Decisions:
  A focal point of this collaboration is the strategic use of IP data to inform and guide R&D investments within the maritime industry. By merging IPOS International’s patent analytics expertise with MPA’s deep industry knowledge, this initiative aims to enhance decision-making processes, ensuring that investments are driven by detailed and actionable technology intelligence. This approach positions IP as an indicator of growth and innovation within the maritime ecosystem.
  
  
• Elevating IP's Role as a Key Value Creator:
  Recognising the substantial value of IP in advancing the maritime sector, the MoU includes robust plans to increase industry awareness. Through flagship events such as the Singapore Maritime Week and IP Week @ SG, this effort aims to increase understanding and appreciation of IP management in the maritime community. Additionally, the parties will jointly develop and promote user-friendly, IP-focused content and resources such as the Tech Insights through Patents tool. Such initiatives are designed to establish IP as a fundamental pillar of innovation and progress across the maritime community.

The partnership will facilitate ongoing knowledge sharing and capacity building. Specialised training for MPA officers is designed to integrate essential IP management skills, crucial for evaluating grant proposals and strategic planning. Further, the collaboration will explore incorporating these skills into relevant maritime courses and training, ensuring that maritime professionals are equipped to meet future industry demands.

As the partnership progresses, both parties anticipate identifying further opportunities for collaboration, which will be discussed and implemented to continue advancing Singapore’s maritime industry. This MoU represents a strategic alignment of efforts by IPOS International and MPA, setting the stage for transformative growth and innovation in Singapore's maritime sector through the effective use of IP.