Posted: 21 February 2013 1236 hrs
SINGAPORE: Singapore is making a major push to
develop the local space industry.
Minister in the Prime Minister's Office and Second Minister for
Trade and Industry S Iswaran announced the setting up of the Office
for Space Technology and Industry (OSTIn) to oversee the
development of Singapore's local space industry.
The new program office is set up under the Economic Development
Board (EDB) - includes government agencies such as the Agency for
Science Technology and Research (A*STAR), Ministry of Defence
(MINDEF), Ministry of Education (MOE), Ministry of Foreign Affairs
(MFA), Ministry of Trade & Industry (MTI) and the National
Research Foundation (NRF).
Speaking at the Global Space Technology Convention on Thursday, Mr
Iswaran said the inter-agency office will plan and execute economic
strategies to drive the growth of the local space industry.
The office will also work with various industry stakeholders to
help them realise their satellite business and innovation
initiatives from Singapore.
Those who are keen to either expand their businesses into the space
industry or strengthen their existing satellite capabilities could
also tap on funds from the new office.
In addition, the office will champion the build-up of local public
research capabilities and talent pool in the industry.
For a start, the office will be supporting two R&D projects
from the Nanyang Technological University and the National
University of Singapore.
Mr Iswaran said: "We believe Singapore will become a compelling
location for satellite-related companies to grow their businesses,
develop their technologies and export new solutions to the
world.
"In view of the growing competition, many satellite companies are
now looking to develop expertise that will enable them to maintain
their competitive edge while finding new growth and market
opportunities.
"In this context, these companies will be able to tap on
Singapore's strengths in adjacent industries, as well as our market
connectivity, geo-political neutrality, pro-business environment,
and R&D infrastructure to bring their business and innovation
initiatives to fruition."
- CNA/ck
