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