What the IP Awards tell us about Singapore’s innovation scene

“Ideas are easy. It’s the execution of ideas that really separates the sheep from the goats,” American detective novelist Sue Grafton once said.

The author may have been talking about her creative process at the time, but the quote also rings true in the world of business.

Ideas, after all, are just the beginning. What truly sets companies apart lies in how they protect, manage, and leverage their intangible assets (IA) and intellectual property (IP) to fuel growth. After all, coming up with new ideas isn’t enough in a fast-moving world; safeguarding them and turning them into something more concrete is what moves the needle and truly powers great innovation.

Daren Tang, director-general of WIPO / Photo credit: Intellectual Property Office of Singapore

That’s where accolades – such as the WIPO-IPOS IP for Innovation Awards – come into the picture. They celebrate companies that have mastered the art of turning their ideas into reality, having successfully protected and scaled their solutions.

“Awards provide recognition, motivation, and incentives for innovators. They boost visibility for the innovator and create a culture where innovation is celebrated,” said Daren Tang, director general of the World Intellectual Property Organization (WIPO). “Award ceremonies like [this] attract opportunities for collaboration, investment, and partnerships and provide a forum for networking.”

More than just an award

The WIPO-IPOS IP for Innovation Awards are organized by IPOS International and jointly supported by the Intellectual Property Office of Singapore (IPOS) and the WIPO. This year’s awards took place on August 27 during IP Week @ SG, an annual global conference that brings together IP thought leaders, legal experts, and innovative enterprises.

Currently in its 12th edition, the awards celebrate Singapore enterprises that have achieved outstanding growth through their successful use of IA and IP.

The IP Awards play an important role in Singapore by shining the spotlight on companies that have leveraged IP to develop innovative solutions, highlighting the creativity present in the country’s business community.

Edwin Tong, Singapore’s Minister for Culture, Community, and Youth and Second Minister for Law / Photo credit: Intellectual Property Office of Singapore

“As we look forward to developing, harnessing, and commercializing IP in the foreseeable future, it is also useful to take a few moments to celebrate our successes today,” said Edwin Tong, Singapore’s Minister for Culture, Community, and Youth and Second Minister for Law, in his speech at the event.

“This year’s IP Awards spotlights exceptional innovation across diverse sectors from nanotechnology to mothercare, robotics to semiconductors, some more traditional in this space than others,” he shared. “But as leaders in their respective fields, each of our awardees have contributed significantly to advancing and also shaping global industries, demonstrating the profound impact of a robust IP management system in Singapore.”

This year’s champions

There were five winners at the 2024 edition of the IP Awards.

The overall winner – who walked away with the WIPO National Award For Enterprises – was Nanofilm Technologies, a company offering nanotechnology solutions. The firm has a long-term focus on innovation, dedicating at least 7% of annual group revenue to R&D and engineering efforts.

Mr Gian Yi-Hsen (seated), chief strategy officer, received the award on behalf of Nanofilm Technologies. / Photo credit: Intellectual Property Office of Singapore

“It’s a great honor to be recognized in this year’s IPOS Awards. We’re very happy that we’re recognized as an innovator in bringing deeptech into the commercial space,” said Gian Yi-Hsen, chief strategy officer of Nanofilm Technologies.

Nanofilm Technologies also received the IPOS IP For Innovation Award, alongside three other companies – Hegen, a mothercare brand aiming to create a positive breastfeeding experience for parents; Otsaw Digital, which aims to revolutionize industries such as healthcare and logistics with its advanced robotics systems; and Zero-Error Systems, a semiconductor manufacturer focused on applications in space.

The winners at the awards ceremony at IP Week @ SG 2024. / Photo credit: Intellectual Property Office of Singapore

The awards also presented the WIPO National Award for WIPO Users to Smith & Nephew Asia Pacific, a medtech firm focused on the repair, regeneration and replacement of soft and hard tissue. This is granted to an early adopter that has used WIPO’s IP services to stay ahead of the game.

The winners had the opportunity to showcase their solutions at the IP Marketplace, the networking and exhibition hall during IP Week, through a winners’ hall of fame exhibition at the IPOS booth. They were also given speaking slots on the IP Marketplace stage.

The Winners Hall of Fame at the IP Marketplace. / Photo credit: Intellectual Property Office of Singapore

Eric Gan, associate professor and head of the IP and Innovation Management Programme at the Singapore University of Social Sciences and one of the five judges for this year’s awards, said that the finalists “represented a diverse range of innovative and impactful IP strategies and showcased their unique approaches to IP protection, branding, and commercialization.”

“I was impressed by their demonstration of creativity, strategic thinking, and a deep understanding of the value of IP. I find it particularly interesting when companies use IP to address pressing social or environmental challenges, or when they develop innovative business models that rely heavily on IP to create a positive impact to society,” he added.

Kim Faulkner, founder and CEO of brand consultancy Activiste and one of the other judges, shared the same sentiments.

“Although this is my second year judging the awards, I can see that the quality of the applications and the diversity of this year’s finalists are commendable,” she said. “Representing a variety of industries, they’ve all leveraged IP in growing and sustaining their businesses.”

The big picture

The WIPO-IPOS IP for Innovation Awards is just one part of the IP Week conference. Centered around the theme of “Ideas to Assets: Forward Together with IP,” this year’s IP Week highlighted the necessity of collaboration and partnerships to fuel the growth of IP and IA, especially in the face of new technologies such as generative AI.

According to Rena Lee, chief executive of IPOS, the ecosystem needs to focus on change and evolution, and IP laws and services will have to transform in line with these new challenges.

“New technologies have emerged, especially in the area of artificial intelligence, data management, and sustainability, and we need to keep pace with these advances,” she said at the IP Week opening ceremony. “It is only by having innovative mindsets that we can keep abreast of the progress of our stakeholders and remain relevant to serve the needs of our economies.”

The WIPO-IPOS IP for Innovation Awards celebrate Singapore enterprises that have achieved outstanding growth through their successful use of IA and IP.

Check out this video for a recap of this year’s awards, the winners, and everything that went down at IP Week @ SG 2024.

WATCH VIDEO

This content was produced by Tech in Asia Studios, which connects brands with Asia’s tech community. Learn more about partnering with Tech in Asia Studios.