Singapore unveils new push to turn research into real‑world impact under S$37b RIE030 plan

The Singapore Government has unveiled its ambitious S$37 billion Research, Innovation and Enterprise (RIE2030) plan, with a focus on turning scientific research into tangible commercial products, deep-tech ventures and solutions to national challenges. A key component of the plan is the launch of the Research Translation Grant, which will provide up to S$2 million per project, with an additional S$3 million for projects that attract early investor involvement. This grant aims to address longstanding gaps in the commercialization process.

The RIE2030 plan represents Singapore's largest research investment to date, aimed at bolstering economic competitiveness, strategic resilience, and long-term technological leadership. Four priority areas have been identified: semiconductors, longevity research, transport and connectivity, and decarbonisation. For transport, the government intends to manage passenger and cargo flows as a single, connected system.

Decarbonisation efforts will support low-carbon technology pilots in industry and power sectors, with an additional S$250 million reserved as a buffer for unforeseen needs.

To further bolster the deep-tech ecosystem, S$1 billion will be allocated to the Startup SG Equity scheme, ensuring early-stage companies have access to growth capital. The government will also introduce new scholarships and attachment programmes to cultivate research and entrepreneurial talent. Recent data shows that business R&D expenditure has increased by 64 per cent, from S$5.5 billion in 2018 to S$9 billion in 2023, with industry R&D jobs growing 33 per cent.

However, deep-tech deal activity has declined since 2023, a trend reflective of global financial conditions.

Despite this, Singapore's research ecosystem has produced over 250 impactful findings between 2021 and 2024, including advancements in wind flow modeling for new housing and floating solar farms capable of powering 100,000 four-room flats. NRF Chairman Heng Swee Keat emphasized the importance of sustained investment, noting that fields such as AI and quantum technologies require decades of groundwork.

He reaffirmed the government's commitment to keeping Singapore competitive and resilient while ensuring that research delivers real-world impact at home.