IPOPHL, AIM partner to help startups grow

The Intellectual Property Office of the Philippines (IPOPHL) has partnered with the Asian Institute of Management (AIM) to help push the growth of startups through improved IP management skills.

In a statement yesterday, the IPOPHL said it signed a memorandum of agreement (MOA) with AIM to help startups train under the AIM Dado Banatao Incubator (AIM-DBI) Program.

Under the MOA, IPOPHL will provide workshops and skills training to increase the startups’ technical knowledge on IP.

AIM-DBI, the country’s first incubator in a business school and supported by the Department of Science and Technology, meanwhile, will help bring IPOPHL services closer to its network of startups called THINCOMMUNITY composed of 47 startups in various stages.

To date, the network of startups has generated 465 jobs and received 87 international recognitions for its innovations and contributions in the local startup scene.

IPOPHL director general Rowel Barba said the partnership with AIM is important as the local startup community has been seeing exponential growth in funding in recent years, even with the ongoing coronavirus disease 2019 pandemic.

Citing the Foxmont Capital Partners’ Philippine Venture Capital report, Barba said local startups recorded $51.8 million in early stage funding in the first half last year, more than the $37.9 million for the whole of 2019.

“Global trade of intangible assets have grown exponentially over the years at a rate that one could only imagine for traditional trade. IP assets are today emerging as key business differentiators. IP ownership and management are defining competition. And we want our startups to be prepared for this so they are able to carve out a successful position for themselves,” Barba said.

Through the partnership, IPOPHL wants to strengthen AIM’s capability and influence in helping startups take advantage of benefits from IP and to contribute in achieving the country’s social, economic and technological development.

“AIM’s excellence in providing startups with world-class training and support through its wide network of key partners make this institution an important link in the country’s innovation ecosystem. Partnering with them will immensely help IPOPHL in our goal of dispersing IP knowledge and embed in the culture of startups the practice of creating and investing in IP strategies,” Barba said.

AIM-DBI executive director Primitivo Paypon Jr. said the partnership shows the importance of IP in the country’s economic growth.

“If IP is in place and investments are carefully attracted, our local startups will be able to create more and provide better economic opportunities to its consumers and stakeholders,” Paypon said.