Shoemaker Masai Group International has successfully received a loan backed by its intellectual property as collateral. This is the first successful loan application of its kind in Singapore.
The loan application was made under the Intellectual Property Office of Singapore’s (IPOS) IP Financing Scheme (IPFS). It was supported by the scheme's three participating financial institutions (PFIs), DBS Bank, OCBC and UOB.
IPOS currently has seven valuers who determine the value of the patent. Under the scheme, once patent value is assessed, one of the PFIs grants the loan, which is partially underwritten by the Singapore government.
Under the IPFS, companies can also monetise other IP assets, such as registered trademarks and copyrights, starting July 1.IPOS has recently added a fourth PFI to the scheme – AFC Merchant Bank. The scheme will also be extended for another two years till March 31, 2018.
