Committee of Supply 2025 debate, Day 4: Mark Lee on commercialisation of intellectual property

Singapore universities and research institutes produce a wealth of intellectual property in the form of patents which hold significant potential to drive innovation and economic growth, said NMP Mark Lee. Speaking in parliament on Wednesday (Mar 5), he asked how the Ministry of Trade and Industry can work with universities, businesses and other stakeholders to accelerate the commercialisation of these research patents, ensuring their benefits are retained within the local economy.