Plans to Promote Homegrown Innovation under Research, Innovation and Enterprise Plan 2025
Ministry of Sustainability and the EnvironmentSpeakers
Summary
This question concerns Ms Poh Li San’s inquiry regarding RIE 2025 plans to promote homegrown innovation and attract sustainability-focused R&D activities to Singapore, alongside progress made thus far. Minister for Sustainability and the Environment Grace Fu Hai Yien noted that RIE 2025 supports the Singapore Green Plan 2030, highlighting over $50 million in agri-food funding and research into low-carbon technologies like hydrogen. To further progress, the Government will launch the Enterprise Sustainability Programme and enhance tax incentives for emissions reduction to support local enterprises. Furthermore, technology translation platforms at various public institutions will be strengthened, and international networks will be expanded to grant companies access to global innovation expertise. These efforts aim to bolster Singapore’s position as a green economy hub by fostering public-private partnerships and developing local research capabilities.
Transcript
57 Ms Poh Li San asked the Minister for Sustainability and the Environment (a) what are the plans to promote homegrown innovation under the Research, Innovation and Enterprise Plan 2025 so as to attract companies to anchor their R&D activities in Singapore to develop new sustainability solutions; and (b) what has been the progress thus far.
Ms Grace Fu Hai Yien: Research, Innovation and Enterprise (RIE) is an important pillar supporting Singapore’s development as an innovation-led economy. Sustained investments in RIE have enabled us to develop a strong knowledge base and talent pool. This has attracted global companies to base their research and development (R&D) and operations here, and enabled local companies to develop new capabilities and enterprises.
For example, Singapore has developed into a global hydro hub with innovative companies providing water solutions globally. In the agri-food sector, SFA and A*STAR just awarded in total over $50 million in funding under RIE 2020 to support over 30 projects in sustainable urban food production and alternative proteins.
RIE 2025 builds on these efforts and contributes to the Singapore Green Plan 2030, which seeks green growth through creating new jobs, transforming our industries, and harnessing sustainability as a competitive advantage for Singapore.
We are making progress in developing technologies needed to meet Singapore’s carbon emissions reduction targets through our energy and decarbonisation R&D programmes. We are creating research partnerships to develop lower cost, low carbon energy technologies such as hydrogen and carbon capture, utilisation and storage (CCUS). A*STAR’s recent call for proposals for its Low-Carbon Energy Research Funding Initiative has generated interest from global and local industries in partnership with local researchers.
More can be done to sustain this momentum. First, we will work with companies to strengthen their capabilities and capacity for innovation. Startup SG initiatives led by Enterprise Singapore, together with other Government agencies and private sector partners from the startup eco-system, supports start-up growth in and beyond Singapore. More mature enterprises are supported by initiatives such as EDB’s New Ventures Group.
Enterprise Singapore will be launching the Enterprise Sustainability Programme this year to support local enterprises to develop capabilities in sustainability and capture new opportunities in the green economy. The Investment Allowance for Emissions Reduction scheme will be enhanced to support projects that improve energy efficiency and/or reduce greenhouse gas emissions.
Second, we will strengthen the technology translation platforms to enable our companies to better tap on the research capabilities and outcomes of our public research institutions. Examples of such platforms include the Environmental and Water Technology Centre of Innovation, the Food Innovation Resource Centre, the Aquaculture Innovation Centre and the EcoLabs Centre of Innovation for Energy at Ngee Ann Polytechnic, Singapore Polytechnic, Temasek Polytechnic and NTU respectively.
Third, we will strengthen linkages with global innovation nodes and build strong international networks for Singapore companies to have access to global and regional markets, innovation expertise and resources. These efforts will increase Singapore’s attractiveness as a destination for global entrepreneurial talent and companies.
As laid out in the Singapore Green Plan 2030, our vision is to ensure Singapore remains a green and liveable home for current and future generations. To achieve this, sustainability needs to be a national movement, undertaken by citizens, industry and organisations across all segments of our society. The Government is committed to partner the private sector and research institutions to promote innovation in sustainable solutions that will help build a greener Singapore.