This month the National Research Foundation of Singapore announced its S$19 billion, five-year research program. The program aims to increase private investments and convert the city-state's raw research into commercial opportunities.
The research body intends to create a more collaborative approach, enabling laboratories to work together and assist with talent from research and industry parties.
In the past 25 years, Singapore Government's spend of S$40 billion on R&D comprising work on stomach cancer, eye diseases and water treatment, has propelled Singapore to world-leader status. However with private investment falling by 2.5 per cent last year in gross domestic product investment, R&D and private sector funding requires improvement.
The five-year program includes health and biomedical sciences, together with funding for digital sectors, advanced manufacturing and engineering and funding for urban solutions and sustainability.
With the R&D tax incentives and a strong IP system, Singapore offers the ideal environment for innovative businesses looking to make contributions on a global scale. We are working closely with many businesses to develop IP strategies to take full advantage of these developments. What's your plan?