Singapores Economy Research and Development Aim: Become an innovation-driven and knowledge-based economy.

Reasons for R&D: Create the intellectual capital that will give Singapore an edge as lower-cost competitors catch up with us. Upgrade our industries and open up new market opportunities As global demand shifts towards Asia, our strong public R&D capabilities put us in a good position to capture more corporate R&D investments whose innovations are tailored to the Asian markets.

Focus: Aggressively promoting and developing its biotechnology and biomedical industry. Aims to become the Asian hub for biomedical research. Heavy investment in LIFE SCIENCES fourth pillar of Singapores manufacturing sector & Biological, medical and pharmaceutical fields. R&D focus on drug discovery, Genetic Screening, Gene therapy.

Leading drug makers, such as GlaxoSmithKline (GSK), Pfizer and Merck & Co., have set up plants in Singapore. On 8 June 2006, GSK announced that it is investing another S$300 million to build another plant to produce pediatric vaccines, its first such facility in Asia. Pharmaceuticals now account for more than 16% of the country's manufacturing production. To persuade western pharmaceutical and research companies to move to Singapore, hundred of millions of dollars were invested into the sector to build up infrastructure, fund research and development and to recruit top international scientists to Singapore.

Strategies: Build up infrastructure Constructed the Biopolis, Fusionopolis, and Buona Vista Science Hub

Attract and develop scientific talent

Recruit top international scientists. To sustain the R&D industry, local schools prepare and train undergraduates and postgraduates to give them a grounding in science and engineering for a career in R&D. E.g. Under Establish

Science Research Programme to develop pupils with an aptitude for science and the opportunity to participate in research projects

Heavy funding:

Government announced in 2010 a $16.1 billion national budget for R&D, for 2011 to 2015. This is a 20% increase from the $13.6 billion we allocated for the current five-year period, 20062010. Increased outlay for R&D stands in contrast with trends elsewhere. Fiscal tightness has created greater uncertainty for public R&D spending in many countries. But in Singapore, they want to maintain steady commitment to R&D because they believe that it is key to transforming our economy and securing our long-term prosperity.

Important questions: What we invest it for and where we invest it? o

Six strategic thrusts:

1. Focus on economic outcomes: Working in closer collaboration with industry, creating more intellectual properties (IPs), leading to innovative products and services that can be commercialised.

$1.35 billion Industry Alignment Fund (IAF) for projects that bring together our public sector R&D performers with industry players, to work on projects with industry relevance. This will in turn facilitate more efficient private sector R&D investment.

2.

Greater emphasis on competitive funding,

To spur innovation and bring out the best ideas for further support and development. 3. Strengthen synergies across our various R&D performers In the A*STAR research institutes, universities, hospitals, CREATE centres, and

industry. Through partnership and collaboration across different capabilities and institutions, they aim to build new horizontal strengths, especially in multidisciplinary areas. Greater funding priority will be given to such multi-disciplinary and collaborative efforts. Collaboration will also be extended across to corporate R&D laboratories, to enhance the commercial value of our public sector IPs. 4. Support foundational research Seed the intellectual capital that forms the basis for future innovations. Scientists have the autonomy to pursue the questions that emerge from their research, to create new knowledge in

areas they are passionate about. For 2011 to 2015, 19% of the $16.1 billion budget will be set aside to strengthen our base of knowledge and to enable flexibility to capture new opportunities that may emerge in the course of the five-year period.

5. Stronger support for our scientists to take their ideas from basic research through to commercialisation Foster a more conducive environment for our scientists to realise the commercial value of their discoveries in the form of licenses and start-up companies, and new products and services.

6. Continued emphasis on attracting and developing scientific talent From both at home and abroad, to meet the needs of our industry and public sector research institutions. For 2011 to 2015, 5% of our $16.1 billion budget will be set aside for scholarships and programmes to grow our pipeline of local and foreign young scientific talent.