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 intensifying its efforts to transform research into practical applications through its RIE2030 plan, allocating a record S$37 billion to research, innovation and enterprise spending by 2030. A new Research Translation Grant will provide funding for early-stage technologies developed from public research, enabling private sector investment and further development.
The grant, capable of covering up to S$2 million per project, aims to ensure commercial considerations are integrated early in the translation process, enhancing the prospects of turning promising research into globally investable deep-tech ventures. Additionally, the plan includes new schemes to nurture research and entrepreneurial talent, such as an attachment program for young researchers and scholarships for local students pursuing a PhD.
A further S$1 billion is earmarked for the Startup SG Equity scheme to continue investing in early-stage startups. The plan also allocates S$3 billion for large-scale initiatives, or "flagships," and "grand challenges" in areas such as transport, connectivity, decarbonisation, semiconductors, longevity, and transport and connectivity.
These investments are expected to bolster Singapore's position as a global connectivity innovation hub, advance low-carbon technologies, and support semiconductor research.
Written by urgent.news from Channel News Asia's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
