By Bernie Cahiles-Magkilat
The Philippine Board of Investments (BOI) and the Intellectual Property Office of the Philippines (IPOPHL) signed a Memorandum of Agreement (MOA) to promote commercialization and utilization of IPOPHL-registered intellectual properties by creating linkages to investors and attract more innovation-driven investments in the country.
Through the MOA, the BOI will now be part of the Mind2Market Network of IPOPHL which will tap on the existing programs of BOI, such as the One Window Network (OWN) and the Trade and Industry Development (TID) Talks, to create stronger linkages between creators/inventors and investors.
Both agencies also agreed to establish channels of communication to facilitate technical consultations on matters related to innovation, including on new and emerging technologies that are registrable with the BOI. This will also facilitate the resolution of any issues that may be faced by industry stakeholders on the registration, recognition and enforcement of IP rights.
For two consecutive years, the BOI has continued to set its highest recorded investment approvals in more than 50 years. “While we continue to outperform ourselves in promoting investments, we still need to attract new investments that are considered ‘innovation drivers’ under the 2017-2019 Investments Priorities Plan (IPP),” said Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo.
These include R&D activities, conduct of clinical trials, the establishment of Centers of Excellence, innovation centers, business incubation hubs, fabrication laboratories, and co-working spaces, and the commercialization of new and emerging technologies and products of DOST or government-funded R & D.
The Patent Landscape Reports (PLRs) being prepared by IPOPHL will help BOI in identifying technology gaps that require foreign investments to bring in these technologies into the country.