Singapore council recommends commercialisation of IP (intellectual property):
This article was originally published in Clinica
Singapore wants to capitalise on its strength as a leading intellectual property centre through an increase of spending on R&D to build up the republic's technological facilities. In its latest meeting with the Singapore economic development board (EDB), the international advisory council (IAC) advised that Singapore should commercialise and not only retain its intellectual assets. The suggested increase in spending is from the current 2% of GDP to at least 3% within the next 10 years. The aim is to attract more industry talent to the country and to become a leader in technological advancements.