Singapore Inc: A global hub for brands and businesses

As Asia continues to emerge as a global centre for innovation and the ASEAN economy gears up to become the world’s fourth-largest by 2030, Singapore is poised to solidify its position as a global brand and business hub.

Bolstered by its strategic location, a robust intellectual property (IP) and innovation regime as well as a large professional talent pool, Singapore has become a favoured destination for multinational corporations (MNCs) seeking regional expansion and new entrants looking to establish themselves in the city-state and grow beyond.

Ranked as Asia’s top financial centre by 2022 Global Financial Centres Index, Singapore’s unique ability to cater to the needs of Asian and Western consumers has also made it an invaluable bridge for companies aiming to penetrate new markets. In addition, it has been ranked the world’s seventh most innovative nation, and the top for IP protection in Asia – further enhancing its appeal to global corporations and ambitious start-ups. 

ENABLING BRANDS TO EXPAND THROUGH SINGAPORE

One organisation that has benefitted from Singapore’s thriving IP ecosystem and global connectivity is the V3 Group, whose V3 Brands subsidiary is headquartered in Singapore. V3 Brands’ portfolio includes V3 Gourmet as well as wellness lifestyle names that include OSIM and LAC.

“Singapore’s IP policies are balanced, well-regarded internationally, and support value creation for business builders,” said Mr Ron Sim, founder of V3 Group. “As markets continue to become more interconnected in the digital realm, growth and development will continue to be increasingly driven by intangible assets (IA) and IP.”

A key part of leveraging IA and IP in digital spaces includes speedy trademark protection. To help businesses in this endeavour, IPOS enhanced its IPOS Go Mobile app to include a brand search function that allows users to search for similar business names, trademarks, web domains and social media usernames with just one click.

Leading lifestyle brand for gamers, Razer, has also been relying on Singapore’s IP ecosystem to facilitate the continuous expansion of its IP portfolio. Since 2005, it has filed over 3,000 patents, trademarks and registered designs – a testament to its unrelenting creative spirit.

Headquartered in both California and Singapore, Razer’s latest innovations, such as the world’s first dual-mode mini-LED display for laptops and intelligent dual-wireless connectivity for headsets, point to its ongoing investment in R&D to improve its products.

Said Razer’s senior legal director Elaine Tan: “We invest heavily in IP protection and IA generation.  Singapore’s IP ecosystem has enabled us to protect our creations and recognise the innovation that our team has put into the products.”

Singapore’s rich local heritage has also fuelled the creative inspiration of RISIS to design uniquely Singaporean contemporary jewellery and keepsakes. The country's IP framework has helped RISIS protect its brand reputation and proprietary gold plating technology.  

AN INNOVATION-LED GLOBAL BRAND HUB

MNCs like Procter & Gamble (P&G), one of the largest household and personal care companies worldwide, have also benefitted from Singapore’s rigorous IP ecosystem that spurs investments in research and development (R&D).

The P&G Singapore innovation Centre (SgIC) is the largest private research facility here. With more than 450 scientists and engineers from 27 nationalities, SgIC houses more than 250 research laboratories that help develop P&G’s global product range, including brands like Pantene, Ambi Pur and Pampers.

Singapore is home to P&G’s Asia Pacific headquarters, allowing its brands to manage their regional IP filings and leverage the country’s IP ecosystem to protect its innovations.

To strengthen Singapore’s position as a global IP and innovation hub, IPOS continues to drive efforts under the Singapore IP Strategy 2030 initiative, which aims to empower businesses to maximise their IA and IP while cultivating an IA/IP-savvy workforce and talent base.

In February, sustainable aviation fuel and renewable diesel producer Neste opened its Asia Pacific Innovation Center at Science Park II, focusing on research around raw materials and pre-treatment processes. The brand’s innovation capacity and capability within Singapore has also grown since it started refinery operations here in 2010, with an initial production capacity of 800,000 tons of renewable diesel per annum.

By the end of 2022, Neste had increased its production capacity to 1.3 million tons per annum. And with the launch of its Singapore Expanded Refinery last month, the Neste Singapore refinery now has a production capacity of 2.6 million tons per annum, including up to one million tons of sustainable aviation fuel, making Singapore the world’s largest sustainable aviation fuel producer in terms of capacity.

Mr Kenneth Lim, general manager and refinery director of Neste Singapore, said: “Neste and Singapore’s Green Plan have aligned objectives in terms of reducing carbon emissions and promoting sustainable solutions to fight climate change. Singapore’s highly skilled and educated workforce, with a strong focus on science and engineering, makes it an ideal location for R&D in renewable energy technologies. Its strategic location at the crossroads of major shipping lines and excellent logistics infrastructure also offer world-class connectivity for Neste’s renewable fuel solutions to reach the world.”

WHERE LEADING BRANDS GATHER

As a global brand and business hub for many major brands, Singapore is also proud to be the host country for the International Trademark Association’s (INTA) 2023 Annual Meeting Live+.

This convention is one of the world’s largest for brands and businesses and will be held at the Sands Expo and Convention Centre in Singapore from May 16 to 20. Attendees from all over the world, including innovation thought leaders, brand professionals, business leaders and IP experts, will have the opportunity to experience first-hand how Singapore’s strategic location, advanced infrastructure and strong IP protection regime have contributed to making it Asia’s business gateway. 

Find out more about the INTA 2023 Annual Meeting Live+  and connect with IP and brand professionals by registering for the event.