{
  "id": 4545009,
  "title": "Singapore’s inaugural RIE2025 report card shows business R&D spending up 64% at S$9 billion",
  "url": "https://urgent.news/2026/08/31/singapores-inaugural-rie2025-report-card-shows-business-r-d-spending",
  "topic": "science",
  "section": "Science",
  "published": "2026-08-31T02:00:00.000Z",
  "source": {
    "name": "The Business Times - Singapore",
    "slug": "the-business-times-singapore",
    "url": "https://www.businesstimes.com.sg/singapore/economy-policy/singapores-inaugural-rie2025-report-card-shows-business-rd-spending-64-s9-billion"
  },
  "original_language": "en",
  "account": "Singapore's inaugural RIE2025 report card indicates a significant increase in business R&D spending, up 64% to S$9 billion between 2018 and 2023. The Research, Innovation and Enterprise 2025 plan, which ran from 2021 to 2026 with a S$28 billion budget, evaluated the country's research and innovation outcomes during this period. National Research Foundation chairman Heng Swee Keat emphasized the importance of these reports in mapping a clear path forward for Singapore's science and technology investments. The report highlights the growing private-sector participation in the R&D ecosystem, with businesses spending S$1.87 for every S$1 in public R&D expenditure in 2023, up from S$1.48 in 2018. This trend is reflected in the rise of R&D-performing firms, increasing from 855 in 2018 to 1,030 in 2023, and value-add from S$161.2 billion to S$161.2 billion. Industry R&D jobs grew by 33% to 32,509 in 2023, with over 70% filled by Singapore residents. The report also notes the development of diagnostic tools and research that aided Singapore's response to the Covid-19 pandemic, as well as advancements in floating solar farms and wind flow optimization in residential areas. Despite these accomplishments, the report identifies room for improvement in commercializing research, as licensing revenue from public-sector intellectual property stood at S$18.6 million in 2023, significantly lower than top US research institutions. Additionally, funding for deep-tech startups has become more challenging due to global trends of macroeconomic uncertainty and tighter financial conditions. To address these issues, the RIE2030 plan includes an additional S$1 billion for the Startup SG Equity scheme and a new S$300 million Research Translation Grant to support the commercialization of early-stage technologies.",
  "summary": "Private-sector participation in ecosystem has grown, but gaps remain in turning research into commercial successes",
  "key_points": [
    "Business R&D spending in Singapore increased 64% to S$9 billion from 2018-2023.",
    "Private-sector contributed S$1.87 for every S$1 in public R&D in 2023.",
    "Industry R&D jobs grew 33% to 32,509 in 2023, mostly filled by Singapore residents."
  ],
  "editors_take": "The surge in business R&D spending and growing private-sector participation signal a significant shift in Singapore's research and innovation landscape, positioning the country for enhanced science and technology investments.",
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}