Posted: 17 October 2012 1238 hrs
SINGAPORE: Deputy Prime Minister Teo Chee Hean has
said Singapore's strategic location places it at the heart of
innovation and transformation in Asia.
He said that with more than two decades of sustained investments in
research and development (R&D), Singapore has built up a strong
R&D ecosystem.
He noted that Singapore is home to several world-class research
universities, industry-oriented research institutes, and corporate
labs, and the universities here have established research
excellence in areas such as energy, water and biomedical
sciences.
Mr Teo, who is also the coordinating minister for national security
and minister for home affairs, was speaking at Techventure 2012 on
Wednesday morning.
Addressing the forum of over 700 researchers, innovators, venture
capitalists and technopreneurs, he also highlighted Singapore's
commitment to maintain R&D funding through the economic
cycles.
He said the S$16 billion that the government has set aside for
R&D from 2011-2015 underscores the intent.
Mr Teo added that these R&D investments would generate new
knowledge, promote innovation, and build deep capabilities to
sustain Singapore's competitiveness for the future.
Singapore's well-recognised strong commitment to the protection of
intellectual property also enhances the environment for business
and innovation, he said.
- CNA/al