The Intellectual Property Office of Singapore (IPOS) is starting a pilot programme to accelerate grants of patent applications in all technology fields to just six months in May 2020. The programme which will be known as the SG Patent Fast Track will be the world’s fastest application-to-grant process.
According to WIPO’s latest report, Asia is the hub for global patent filings, receiving over two-thirds (66.8%) of all applications filed worldwide in 2018. There has been an increase in patent applications filed through Singapore also, a 46% increase, from 9,685 to 14,136 between 2012 and 2019.
Under the fast track programme, qualifying patent applications could be granted in as quickly as six months, compared to the usual period of two years or more. The pilot is planned to end on 29 April 2022.
“We now offer this SG Patent Fast Track programme because we understand the needs of innovators. Through this, IPOS is staying ahead of the curve, and is committed to supporting innovators and enterprises across technology sectors to bring their products and services faster to investors and global markets. The move also strongly complements Singapore’s drive towards becoming a global research and development hub said the Director of Patents, Designs & Plant Varieties of IPOS”
The technology-neutral programme reflects the important role IP offices play in supporting innovators and their solutions to address global developments in sustainable development, and particularly in current times, that of public healthcare. Examples of technologies that the programme will benefit include:
Technologies with a social impact like GreenTech relating to sustainable food production, climate change, waste, water and energy management.
Technologies with healthcare impacts, such as digital health solutions, tracing apps, ventilators and diagnostics kits.
Emerging technologies with short product lifecycle, such as FinTech, Industry 4.0, Artificial Intelligence.
Ms. Sharmaine Wu, Director of Patents, Designs & Plant Varieties of IPOS, said: “In these unprecedented times, IP Offices need to step up efforts to support solutions that deal with the global challenges. A week ago, IPOS International, a wholly-owned subsidiary under IPOS, announced a free online training course on IP essentials for businesses.”
The new scheme will replace IPOS’s two other successful initiatives, the FinTech Fast Track (FTFT) and Accelerated Initiatives for Artificial Intelligence (AI2) launched in 2018 and 2019, respectively.
Up to now, there have been 86 eligible applications under both schemes, 70% of which were filed by Singapore entities. Local companies that have obtained accelerated patent grants include Qrypted Technology and Skyrus Network.
