World IP Day 2021: IP & SMEs: Taking your ideas to market
World Intellectual Property Day 2021 shines a light on the critical role of small and medium-sized enterprises (SMEs) in the economy and how they can use intellectual property (IP) rights to build stronger, more competitive and resilient businesses. The World Intellectual Property Organization (WIPO) has developed interactive materials to learn more about IP and its use for SMEs.
Enhancing Intellectual Property Management and Appropriation by Innovative SMEs
This one-pager by the Innovation Council explains the importance of sound IP management for SMEs, including complementary and hybrid strategies and recommendations for governments. To read more about innovative SMEs, click through the Innovation Council gallery for World IP Day 2021 here.
Save our SMEs
Save our SMEs was started in order to respond to the severe economic impacts that Micro-, small-, and medium-sized enterprises (MSMEs) and their workforces are facing—in both developed and developing economies—as a result of the COVID-19 pandemic. MSMEs comprise an estimated 80 percent of employment in many countries, and collectively employ billions of people.
They are, indeed, the backbone of the global economy, and are fundamental to the day-to-day provision of goods and services around the world. However, recent reports indicate that many MSMEs do not have enough working capital to last even thirty days in the midst of the Covid crisis, and many have already closed their doors. Action is needed from governments, private sector leaders and international institutions to ensure the continued viability of our MSMEs.
Launch of European Innovation Council
The European Commission has launched the European Innovation Council (EIC), with a budget of over €10 billion (in current prices) for 2021-2027, in order to develop and expand breakthrough innovations. Building on a successful pilot programme under Horizon 2020, the new EIC is not only a novelty of Horizon Europe, but it is also unique in the world: it combines research on emerging technologies with an accelerator programme and a dedicated equity fund—the European Innovation Council Fund—to scale up innovative start-ups and small and medium-sized businesses (SMEs). Around €3 billion of the EIC’s budget will go towards the EIC Fund.
Innovation for Sustainable Food Production: Shiok Meats, Singapore
On the occasion of the WTO TRIPS Council online side event focusing on the intersection of innovation, IP and sustainability – which will take place on March 9 at 16:00 – we are re-posting some resources about IC member Shiok Meats. Shiok Meats is a Singaporean company that produces cell-based crustacean meat. Shiok Meats plans to bring healthy, nutritious, environmentally-friendly and cruelty-free crustacean meat to tables everywhere in the coming years, disrupting the global shrimp market which is worth an estimated 40b USD annually. This month marks the one-year anniversary since the Singaporean innovators introduced their first shrimp dumpling. Shrimp grown from cells has several advantages over wild caught shrimp or shrimp raised through aquaculture – notably in relation to health, environment, and labor impacts – but further innovation is required to bring down production costs. This is the goal of the team at Shiok Meats over the next 2-3 years.
How SMEs can use IP to secure success in the new data-fuelled AI paradigm
As the next generation of data-driven analytics gets underway and the need to deliver value from AI system outputs becomes more urgent, smaller players are eyeing up their chance to stake a claim in this multi-billion dollar landscape, which so far has been dominated by Big Tech. The author of this article explains the need to enhance IP protection beyond contractual rights to build controls and safeguards. Robust contracting and reinforcing the human element as an operational step will help to secure ownership through IP rights. This new space offers rich pickings – particularly for smaller, more agile players. The prizes will go to those best able to manouvere through the shifting web of IP, data protection, new data laws, new data governance laws, and new regulation, to claim a piece of the new AI bounty.
Singaporean business associations welcome RCEP
Two Singaporean business associations, the Association of Small and Medium Enterprises and the Singapore Chinese Chamber of Commerce and Industry, have welcomed the signing of the Regional Comprehensive Economic Partnership (RCEP), and said they will help local small and medium enterprises tap into the opportunities provided by the agreement.
The RCEP was signed by the ten ASEAN states (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam), and five of their FTA partners—Australia, China, Japan, New Zealand, and South Korea. The 15 member countries account for 30% of the world’s population and 30% of global GDP, making it the world’s largest trade bloc.
EUIPO and INSME collaboration agreement to bring IP to SMEs
The SME ecosystem needs more partnerships to encourage a favorable environment where SMEs can develop and reach their full potential in business. A new collaboration agreement between EUIPO and the International Network for Small and Medium Enterprises aims to do just that. This collaboration agreement enables both organizations to work in pursuit of a common goal, to foster growth and empower SMEs.
Shiok Meats debuts lab-grown shrimp meat
Shiok Meat’s finished product possesses the texture of ground shrimp and has already been tested to make shumai, the Cantonese dim sum mainstay with the yellow dumpling wrapper. But its applications are potentially manifold in Chinese-centric cuisine. Eventually, the company aims to move beyond ground shrimp meat to produce crab, lobster, and a structured deshelled shrimp. Read more.