Solar energy start-up Sun Electric pioneered an innovative solution for electricity consumers to access clean energy generated from rooftops in Singapore. This means that rooftop owners and consumers can now trade solar-generated power through the SolarSpace platform. Intellectual property has been an integral part of Sun Electric’s development – from inception to commercialisation, encouraging our own staff to take risks and securing investments in research is what has led to Sun Electric’s success in Singapore.
This is made possible through a regulatory environment that encourages progressive disruption for the good of consumers and society. As well the significant appetite for advancements and innovation in this competitive economy. Sun Electric’s success would not have been possible without the Energy Market Authority’s interest to regulate the industry, SPRING’s grant funds, and JTC’s buildings as a test bed in a real world environment. There is no doubt that standardization of IP will assist within an environment that is ready to test and develop the technology that will set the stage for the future.
As a solar energy start-up and a disruptor that pioneered a world-first offsite solar programme in Singapore. The standardised IP protocol could encourage more players to file patents and copyrights for their inventions. IP rights create jobs for technicians, scientists, and allow knowledge workers to secure and trade their ideas, assisting them in progressing potentially significant commercial discoveries. IP allows innovators to collaborate, enhance their entrepreneurial ventures, and lower the costs of a combined optimisation of emerging infrastructure which provides benefits to everyone.
Regulation is important, however, there needs to be a recognition of the typically bottom-up nature of innovation and disruption. To create a more vibrant start-up ecosystem, the focus should be on empowering the participation from those who want to challenge the status quo – with faith in the fact that no single person can predict the future. Through diversity of contributions to the arts and sciences, and creativity, IP securities can help develop the balance for top-down initiatives like the CFE’s strategies. There needs to be support for entrepreneurs and businesses to compete and create more excitement and competition in the landscape, and standardised IP can set the stage for this transaction