Changes to Singapore public policy highlight need for government support of entrepreneurship

The Deputy Prime Minister of Singapore recently announced major changes to Singapore's public policy regarding entrepreneurship and intellectual property. The most significant change is that the government will now allow entrepreneurs to retain patents developed as a result of government-funded research. This affords small businesses the opportunity to develop products and bring them to market, ultimately giving wealth back to the state via taxes and job creation. The situation highlights the need for public policy changes in many countries in order to encourage and give opportunity to entrepreneurs. Read more...