Singapore steps up efforts to turn research into real-world impact under S$37 billion RIE2030 plan
A new Research Translation Grant will fund the development of early-stage technologies from public research so the private sector can invest in and further develop them.
Singapore is enhancing efforts to convert research into tangible results as part of its RIE2030 plan, which has allocated a record S$37 billion for research, innovation and enterprise spending until 2030. The National Research Foundation (NRF) unveiled the comprehensive five-year plan on August 31, with a significant portion of the funds dedicated to a new Research Translation Grant.
This grant aims to facilitate the development of early-stage technologies from public research, enabling private sector investment and further advancement. The grant offers up to S$2 million per project, with projects involving early investor participation eligible for up to S$3 million. This structure ensures that commercial considerations are integrated early in the translation process, improving the prospects of developing globally investable deep-tech ventures.
Additionally, the 2030 plan includes new and enhanced schemes to cultivate research and entrepreneurial talent, such as an attachment program for young researchers and scholarships for local students pursuing a PhD. The plan also earmarks S$3 billion for large-scale "flagship" and "grand challenge" initiatives, including research in transport and connectivity and decarbonisation.
Written by urgent.news from CNA - Singapore's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
