Page 6 - 201907G20Entrepreneurship Newsletter

US: University of Utah Launches Master's Degree for Entrepreneurs

Currently in Mexico, non-traditional financial companies have become the main financing channel for SMEs. Traditional banks
in Mexico require companies applying for loans to provide a variety of financial records and related documents, and verification
processes are very lengthy and complex. However, for SMEs, the speed of loan approval is a crucial factor, because many SMEs are
in urgent need of funds to maintain operations and overcome the problems they confront in the management.
Konfío is a financial company that focuses on solving the SMEs' difficulties in access to the fund. Any entrepreneur who conducts
business activities can apply for loans through the company's platform. Konfío's online platform focuses on small and medium-
sized businesses. Unlike traditional banks with loan approval process of more than 70 days, the platform is able to grant up to
1.5 million pesos (approximately $78,745) in credit within 4 hours. Since its inception in 2014, the company has raised 2 billion
pesos (approximately US$104,994,000) through three rounds of financing and is growing at a rate of 700%. Konfío is changing the
financial ecosystem through liquidity loans for SMEs. This allows companies with inadequate conditions, even those with no official
credit history, to obtain funding to promote business development.

Singapore Intellectual Property Office Announces Initiative to Support Innovative
Business in Global Markets
The Intellectual Property Office of Singapore announced a new initiative to support innovative enterprises as they enter global
markets. The initiative is called the intellectual Property Insurance Initiative for Innovators (IPIII), and it will give innovative
enterprises insurance coverage for legal expenses that may be incurred in intellectual property (IP) infringement proceeding
worldwide.
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Under IPIII, enterprises and innovators with a Singapore patent, trademark or registered design can take up an insurance policy
with substantial cost savings that pays the legal costs of enforcing IP rights or defending against allegations of IP Infringement,
which can often be expensive and detrimental to business cash flows.
New business risks will emerge as more enterprises use innovation and digitalization to grow and enter global market. With over
60 million IP in force in the world today, about 10 IP for every 1000 people globally, securing business interests with an IP insurance
policy is emerging as a business priority.

Chief Editor: Gao Jian
Executive Editor: Shao Hong
Editor: Su Qing
website: www.g20e.tsinghua.edu.cn/EN
E-mail: g20erc@sem.tsinghua.edu.cn
Tel: +86 10 82159850
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to visit our website. for more information.
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