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A Knowledge Based Economy (KBE) * Money, Time and Talent ! History | KBE | Biomed | S&E | Talent | Enterprise Building.

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Presentation on theme: "A Knowledge Based Economy (KBE) * Money, Time and Talent ! History | KBE | Biomed | S&E | Talent | Enterprise Building."— Presentation transcript:

1 A Knowledge Based Economy (KBE) * Money, Time and Talent ! History | KBE | Biomed | S&E | Talent | Enterprise Building

2 Map of Singapore: Location of one-north Changi Airport Changi Airport National University of S’pore National University Hospital National University of S’pore National University Hospital Tuas Biomedical Park Tuas Biomedical Park City Centre Seaport & Container Terminals one-north SGH Nanyang Technological University Jurong Island Biopolis Fusionopolis

3 Labour-intensive Skills-intensive Capital-intensive Technology-intensive Innovator of new products & services Knowledge- Intensive Singapore’s Economic Progress Keep moving up ! History | KBE | Biomed | S&E | Talent | Enterprise

4 The Turning Point 1985: Economy shrank 1.5% 1985: 4% unemployment 1986: 7% unemployment 1985/6 Recession 1987 Recovery Independence 1965 S$ 1,567 (1965) S$14,345 (1986) GDP Per capita (S$)

5 The UpTurn History | KBE | Biomed | S&E | Talent | Enterprise GDP Per capita (S$) 1986: Economy grew 2% 1987: Economy grew 9% 1988: 20,000 new jobs created S$14,345 (1986) S$ 1,567 (1965) Independence 1965 S$46,832 (2006) 0 5,000 10,000 15,000 20,000 25,000 30,000 35,000 40,000 45,000 50,

6 Building the Data Storage Industry Cluster Cumulative Output ( ): S$170 billion S$11 billion (2006) S$20 billion (1997) S$2.4 billion (1986)

7 Building the Semiconductor Industry Cluster S$36 billion (2006) Cumulative Output ( ): S$122 billion S$11 billion (1998) S$2.3 billion (1986) 0 10,000 20,000 30,000 40,

8 Building The Chemicals Industry Cluster 10,000 20,000 30,000 40,000 50,000 60, S$ Million Cumulative Output (1986 – 2000) - S$266 billion S$76 billion (2006) Official Opening of Jurong Island 1995 Construction started on Jurong Island History | KBE | Biomed | S&E | Talent | Enterprise (S$32 billion) (S$17 billion)

9 The Jurong Island Story These seven tiny islands (800 ha in all) then became ….. … a 3,400 ha single island 1991present History | KBE | Biomed | S&E | Talent | Enterprise

10 Jurong Island Today Jurong Chemical Island ….Today … a 3,400 ha single island

11 2006 GDP Pie (S$210 billion) 27.7% (Manufacturing) 3.6% (Construction) 15.2% (Wholesale & Retail Trade) 9.6% (Transport & Storage) 1.9% (Hotels & Restaurants) 3.8% (Info & Comms) 11.2% (Financial Svcs) 11.5% (Business Svcs) 10.2% (Other Services) 5.2% (Others) Manufacturing Construction Wholesale & Retail Trade Transport & Storage Hotels and Restaurants Information & Communications Financial Services Business Services Other Services Others History | KBE | Biomed | S&E | Talent | Enterprise MANUFACTURING

12 Manufacturing S$ Million Biomedical Sciences Electronics Chemicals 0 20,000 40,000 60,000 80, , p Electronics (incl Data Storage and Semiconductors) ChemicalsBMS Precision Engrg History | KBE | Biomed | S&E | Talent | Enterprise Total Manufacturing Output of 4 key clusters : $235 billion (2006)

13 Manufacturing p ElectronicsChemicalsBMSPrecision Engrg Person Electronics Precision Engrg Chemicals Biomedical Sciences History | KBE | Biomed | S&E | Talent | Enterprise Total Employment in 4 clusters : 223, 277 (2006)

14 Singapore has promoted and attracted 4 waves of investments: - * Data storage ( ) * Semiconductors ( ) * Chemicals (1996 to 2000) * Biomedical industries (2001 to 2006) Creation of 4 clusters of growth

15 Four Industry Waves (1986 to 2006) Data Storage S$170 b Semiconductors S$122 b Chemicals S$266 b Biomedical Sciences S$125 b History | KBE | Biomed | S&E | Talent | Enterprise

16 Stagnation Labour Intensive Skills Intensive Capital Intensive Technology Intensive GDP Per capita (S$) Where do we go from here? High Growth Decline History | KBE | Biomed | S&E | Talent | Enterprise

17 1965 – 1978: Export Oriented Industrialisation 1986 – 2000: Capability Building and Economic Diversification Moving forward to a Knowledge Based Economy model 1979 – 1985: Industrial Restructuring 2001 onwards: Transforming to Knowledge- Based Economy History | KBE | Biomed | S&E | Talent | Enterprise

18 From Manufacturing to Knowledge-Based Economy An Economy based on cost efficiency is not sustainable in the long term Move up the Value chain with focus on high value- added activities Graduate Education is a necessity for high value- added R&D-oriented industries Research  Development  Production  Marketing  Distribution  Servicing History | KBE | Biomed | S&E | Talent | Enterprise

19 What is a Knowledge-Based Economy?  How do we create knowledge and useful ideas? R&D and innovation.  Where? New high growth areas like biomedical sciences, nanotechnology, energy.  Why? R&D generates intellectual property (IP) and this is the “real value-added” R&D complements our manufacturing core. Coupling the two will create clusters of high value-added activity. Create, Own + Exploit (COE) Knowledge History | KBE | Biomed | S&E | Talent | Enterprise

20 Science and Engineering Research Council Biomedical Research Council Exploit Technologies Corporate Planning and Administration A*STAR Graduate Academy Building up the R&D foundation (2001) History | KBE | Biomed | S&E | Talent | Enterprise

21 A*STAR’s Foundations Research governance framework * Established Research Councils and RI Scientific Advisory Boards Research Infrastructure * Completed Biopolis Phase 1 & Phase 2 Focus on Talent * Attracted international scientific leaders and scientists * Set up A*STAR Graduate Academy to groom Singaporean PhD talent Encourage Commercialisation * Streamlined Intellectual Property policies * Established Commercialisation of Technology Fund International Partnerships * Partnerships for research collaboration and graduate education/training History | KBE | Biomed | S&E | Talent | Enterprise

22 A snapshot of Singapore’s current R&D scene History | KBE | Biomed | S&E | Talent | Enterprise

23 International Comparison of R&D Intensity Source: National Survey of R&D in Singapore 2005 and OECD MSTI 2006_1 Finland Ireland Japan Korea Total OECD Singapore 2.36% (2005) United States Taiwan Year R&D / GDP % History | KBE | Biomed | S&E | Talent | Enterprise Singapore’s Goal: 3.0% by 2010 Limit: TALENT Singapore 1.88% (2000)

24 Building up R&D Human Capital Research Scientists and Engineers (RSE) RSE per 10,000 History | KBE | Biomed | S&E | Talent | Enterprise No. of research manpower No. of research manpower per 10,000 labour force

25 No. of Patents Applied / Awarded History | KBE | Biomed | S&E | Talent | Enterprise Patents applied Patents awarded Goal

26 Building up Biomedical Sciences A*STAR 2001 History | KBE | Biomed | S&E | Talent | Enterprise

27 Vision Singapore – The Biopolis of Asia Basic, Translational & Clinical Research Product & Process Development Pilot & Commercial Manufacturing Regional HQ & Shared Services Healthcare Delivery An International Biomedical Sciences Cluster Advancing Human Health Through the Pursuit of Excellence in Research & Development, Manufacturing, and Healthcare Delivery History | KBE | Biomed | S&E | Talent | Enterprise

28 S*BIO ResearchDevelopmentManufacturingHealthcare Services Human Capital Development Intellectual Capital Development Industrial Capital Development Biomedical Sciences Value Chain History | KBE | Biomed | S&E | Talent | Enterprise

29 How It All Started…. A/Prof. Kong Hwai Loong Prof. John Wong Prof. Tan Chorh Chuan 26thJune 2000

30 Sir Richard Sykes (Chairman) Imperial College (UK) Dr John Mendelssohn (Co-Chairman) MD Anderson (USA) Dr David Baltimore (Emeritus) California Institute of Technology (USA) Dr Leland Hartwell Fred Hutchinson Cancer Research Center (USA) Dr Colin Blakemore Medical Research Council (UK) Dr Richard Lerner (Emeritus) Scripps Research Institute (USA) Dr John Reed (Emeritus) Burnham Institute (USA) Dr John Bell University of Oxford (UK) Dr Sydney Brenner The Salk Institute (USA) Sir George Radda (Emeritus) University of Oxford (UK) Dr Harriet Wallberg-Henriksson Karolinska Institutet (Sweden) Dr Peter Gruss Max Planck Society (Germany) Dr Philippe Kourilsky (Emeritus) College de France (France) Dr Alan Bernstein (Emeritus) Canadian Institutes of Health Research (Canada) Dr Suzanne Cory WEHI (Australia) Dr Samuel Barondes (Emeritus) University of California, San Francisco (USA) Dr David I. Hirsh (Emeritus) Columbia University (USA) Dr Paul A. Marks (Emeritus) Memorial Sloan-Kettering Cancer Center (USA) Dr Alan Munro (Emeritus) University of Cambridge (UK) Sir Keith Peters (Emeritus) GlaxoSmithKline (UK) Dr Hans Wigzell (Emeritus) Karolinska Institutet (Sweden) Dr Axel Ullrich (Emeritus) Max-Planck Institute of Biochemistry (Germany) Dr John Shine (Emeritus) Garvan Institute of Medical Research (Australia) Dr Susan Lindquist (Emeritus) Whitehead Institute of Biomedical Research (USA) Dr Stanley N. Cohen (Emeritus) Stanford University (USA) Dr Helen Hobbs UT Southwestern (USA) Dr Tadataka Yamada Gates Foundation (USA) Dr Rolf Zinkernagel University of Zurich (Switzerland) Dr William Evans St Jude (USA) Sir Philip Cohen University of Dundee (UK) Dr Anthony Pawson Samuel Lunenfeld Research Institute (Canada) BMS International Advisory Council

31 Breaking New Ground in 2001 … Biopolis History | KBE | Biomed | S&E | Talent | Enterprise

32 Biopolis Biopolis Phase 1  All 5 BMRC Research Institutes  S&T offices (British High Com and RIKEN)  Corporate labs (NITD, GSK)  185,000 square metres  Officially opened on October 2003 Biopolis Phase 2  BMRC Research Institutes  Corporate labs  Additional 37,000 square metres  Officially opened on 30 October 2006 Biopolis 1 Biopolis 2

33 BMRC Research Institutes Genome Institute of Singapore (GIS) Institute of Bioengineering & Nanotechnology (IBN) Bioinformatics Institute (BII) Institute of Medical Biology (IMB) Singapore Institute for Clinical Sciences (SICS) Bioprocessing Technology Institute (BTI) Institute of Molecular and Cell Biology (IMCB) History | KBE | Biomed | S&E | Talent | Enterprise

34 Phase 1  185,000 sqm  S$500 million invested  Public & corporate R&D labs  > 95% of space committed Phase 4 Phase 3 Shared Facilities  Shared R&D equipment  Shared animal facility Phase 2  37,000 sqm  Opened on 30 October 2006 Biopolis Tuas Biomedical Park Tuas Biomedical Park I & II  360 Ha of prepared industrial land  Ready infrastructure provided - Stable water, Electricity, Telecommunications, Sewerage discharge Integrated Infrastructure: Tuas Biomedical Park History | KBE | Biomed | S&E | Talent | Enterprise

35 Biomedical Sciences (BMS) Manufacturing Performance History | KBE | Biomed | S&E | Talent | Enterprise Output $ ‘000 S$23 billion (2006) 0 5,000 10,000 15,000 20,000 25, Manufacturing OutputValue-Added S$6 billion (2000) Cumulative Output (1986 – 2006) - S$125 billion

36 Biomedical Sciences (BMS) Actual Employment ,880 (2000) 10,572 (2006) Employment History | KBE | Biomed | S&E | Talent | Enterprise

37 Genomics & Proteomics Bioprocessing Chemical Synthesis BIOTECHNOLOGY HEALTHCARE SERVICES & DELIVERY Molecular & Cell Biology Bioengineering & Nanotechnology Computational Biology Industry Sectors Bioimaging Cohort Studies Biomarkers Stem cells Drug Discovery CLINICAL RESEARCH TRANSLATIONAL RESEARCH PHARMACEUTICALS MEDICAL TECHNOLOGY Biomedical Cluster Map History | KBE | Biomed | S&E | Talent | Enterprise

38 MEaT = Medical Enginering and Technology IMCB = Institute of Molecular & Cell Biology GIS = Genome Institute of Singapore BTI = Bioprocessing Technical Institute IBN = Institute of Bioengineering and Nanotechnology BII = Bioinformatics Institute CMM = Centre for Molecular Medicine SICS = Singapore Institute for Clinical Sciences SBIC = Singapore Bioimaging Consortium SIgN = Singapore Immunology Network SSCC = Singapore Stem Cell Consortium STN = Singapore Tissue Network SCS = Singapore Cancer Syndicate SCCS = Singapore Consortium of Cohort Studies DPF = Data Privacy Framework BMS IF = Biomedical International Fellowship CSI = Clincian Scientist Investigatorship IRBs = Institutional Review Boards Mission-oriented BENCH INDUSTRY Co-investment, VC funding RISC grants, infrastructure, tax breaks Pharma MEaTBiotech Biologics (cells / vaccines) Med tech / devices Drug discovery & devt Singapore Clinical Trials IMCB, GIS, BTI IBN, BII, CMM, SICS Research Institutes SBIC SSCC SIgN Biomarkers Research Consortia Set up by A*STAR / BMRC BEDSIDE Clinical Research Programmes Focus, strategy Human Capital Development, recruitment Infrastructure For Clinical Trials Regulatory Framework IRBs DPF Office MBBS PhD / BMS IF / CSI awards Translational / Investigational Medicine NMRC / HSA Clinical Trials Overseas Clinical Trials STN SCS SCCS Academic BENCH NUS, NTU

39 Clinical BIOMEDICAL RESEARCH TranslationalBasic Singapore Health Services Singapore General Hospital National Cancer Centre National Heart Centre Singapore National Eye Centre KK Women and Children’s Hospital National Neuroscience Institute National Healthcare Group National University Hospital The Cancer Institute Tan Tock Seng Hospital Communicable Disease Centre National Skin Centre Extramural Grants −Singapore Cancer Syndicate −Singapore Bioimaging Consortium −Singapore Stem Cell Consortium −Singapore Immunology Network −Member of Intl Cancer Biomarker Consortium Singapore Institute for Clinical Sciences (SICS) Develop programmes in Translational Clinical Medicine Develop critical resources: -Singapore Tissue Network -Singapore Consortium of Cohort Studies Develop Clinician Scientists: -Clinician Scientist Investigatorship (CSI) Awards -PhD training for medical doctors -Biomedical International Fellowships MOH HQ - Ethical regulations/framework for clinical research e.g. IRBs NMRC -Clinical research strategy -Grant management -Manpower development -HSA -Evaluation capabilities for new technologies Research Institutes Institute of Molecular & Cell Biology Genome Institute of Singapore Institute of Bioengineering & Nanotechnology Bioprocessing Technology Institute Bioinformatics Institute UNIVERSITIES Institute of Medicinal Biology (IMB) Biopolis ( ) −Singapore Oncogenome Group −Regenerative Medicine −Epithelial Biology Consortia Kent Ridge -Genetic Medicine -Virology/Infectious Diseases Outram ( ) −Cardiovascular Diseases −Eye Diseases A*STAR Biomedical Research Ministry Of Health

40 Hub for Clinical Trials & Regional Management  14 emp  Phase 1-4 Trials  10 emp  Phase 3-4 Trials  8 emp  Phase 3 Trials  Results Used in NDA Submission  10 emp  Phase 2-4 Trials  GSK and GSK Biologicals  42 emp  Phase 2-4 Trials  20 emp  28 Bed Phase 1 Unit  Phase 3-4 Trials  12 emp  Phase 2-3 Trials  Centralized Data  32 emp  Phase 2-4 Trials  65 emp  31 bed Phase 1 Unit  Japan Bridging Studies  6 emp  Phase 2-3 Trials  Results Used in NDA Submission  4 emp  Phase 2-4 Trials  Data Management  22 emp  Phase 2-4 Trials  Data Management LILLY Bristol-Myers Squibb Company Local: Early Phase and Complex Trials History | KBE | Biomed | S&E | Talent | Enterprise

41 Fusion of Science and Engineering History | KBE | Biomed | S&E | Talent | Enterprise

42 Science & Engineering Industry Clusters ELECTRONICS INFOCOMM ENGINEERING CHEMICALS Semiconductors Storage & Peripherals Devices Digital Content & Media Software & Computing Communications Petroleum/Petrochemicals Performance Materials Bio & Consumer Chemistry Specialty Chemicals Process Engineering * Advanced Display Electronic Components Electronic Modules Microelectronics Computational Science Data Storage Infocomm Research Chemical Sciences Material Science & Engineering Manufacturing Technology I2RI2R IME DSI IMRE ICES SIMTech IHPC Machinery & Systems Precision Modules Aerospace Precision Components Marine & Offshore Automotive Alignment of SERC RIs to meet Industry Needs Science and Engineering Cluster Map History | KBE | Biomed | S&E | Talent | Enterprise

43 ELECTRONICS INFOCOMM ENGINEERING CHEMICALS Machinery & Systems Precision Modules Aerospace Precision Components Offshore Engrg Petroleum/Petrochemicals Performance Materials Bio & Consumer Chemistry Specialty Chemicals Process Engineering MicroElectronics Data Storage Info-Comm Sciences Chemical Sciences Materials Sciences Manufacturing Technology Devices Digital Content & Media Software & Computing Communications Semiconductors Storage & Peripherals Advanced Display Electronic Components Electronic Modules Home 2015 Ultra wide Band Polymer Elec. Photonics Nano-elect. Sensors Mfg Systems Imaging Human-factor Engineering Energy Synthetic Chemistry Nanotechnology Human-machine interface Arrayed sensor networks Developing New Competencies History | KBE | Biomed | S&E | Talent | Enterprise

44 SERC Research Institutes Data Storage Institute (DSI) Institute for Chemical & Engineering Sciences (ICES) Institute for Infocomm Research (I2R) Institute of Micro- electronics (IME) Institute of Materials Research & Engineering (IMRE) Institute of High Performance Computing (IHPC) Singapore Institute of Manufacturing Technology (SIMTech) History | KBE | Biomed | S&E | Talent | Enterprise

45 SERC RIs initiated 838 Industry R&D projects from FY01-FY06* * As of 31 st December 2006 Attracting and Anchoring Corporate R&D activities History | KBE | Biomed | S&E | Talent | Enterprise

46 Fusionopolis – Home for Integration of Technologies and Capabilities Devices (IME, DSI) Materials (IMRE) Computer Modeling (IHPC) Platform (SIMTech / IME) Technologies Systems / Applications (I2R) System Integration (SIMTech) Central Facilities Chemistry (ICES) History | KBE | Biomed | S&E | Talent | Enterprise

47 SERC, CPAD, ETPL, I2R, IHPC, DSI (network storage), SIMTech (Industrial Informatics) located at Fusionopolis Phase 1 Fusionopolis Phase 1 Facilities History | KBE | Biomed | S&E | Talent | Enterprise

48 Singapore’s most powerful Computers - driving innovations S'pore's largest R&D cleanroom at your service State-of-the-art cleanroom Small Matters! produce high-resolution, 3D images down to an atomic level Science meets business Partnering industry in joint development of next generation technologies Integration of SERC RI Capabilities Bringing Technology From the labs to Your Daily Experience experimental place to innovate and create ideas for R&D and new applications A Magnet for the Best and Brightest Outstanding researchers with diverse cultures to create highly inventive environment Area of Phase 1 : 120,000m2 Area of Phase 2 : 103,688m2 No. of Researchers : > 1600 Realising Fusionopolis

49 One-North

50 FUSIONpolis – Aerial view Circle line MRT Co-location of Fusionopolis and Biopolis History | KBE | Biomed | S&E | Talent | Enterprise

51 HUMAN CAPITAL make up a Knowledge- Based Economy (KBE) History | KBE | Biomed | S&E | Talent | Enterprise

52 Human Capital - Whales History | KBE | Biomed | S&E | Talent | Enterprise

53 2001 Dr Edison Liu Executive Director, GIS 2002 Dr Yoshiaki Ito PI, IMCB Sir David Lane Executive Director, IMCB & Executive Dy Chmn (BSTG), BMRC Dr Birgitte Lane Executive Director, IMB Dr Neal Copeland & Dr Nancy Jenkins PIs, IMCB Dr Phil Ingham PI, IMCB Dr Jean Paul Thiery PI, IMCB Dr Edward Holmes Executive Dy Chmn (TCSG), BMRC & Chmn, NMRC Dr Judith Swain Executive Director, SICS Dr Philippe Kourilsky Chairman, SIgN Dr Axel Ullrich Director, SOG Lab Sir George Radda Chairman, SBIC Dr Jackie Ying Executive Director, IBN When physician-scientists Judith Swain and Ed Holmes take up their posts in Singapore…, they will join a star-studded community at one of the world’s most rapidly developing biomedical research centres. …they are the latest of many Western scientists who have headed for the impressive facilities of the tiny city- state. Naturejobs, 5 Jul 06 Attracting International Talent (Whales) History | KBE | Biomed | S&E | Talent | Enterprise

54 Human Capital - Guppies History | KBE | Biomed | S&E | Talent | Enterprise

55 Youth Science YRAP & JC Awards NSS(BS) NSS(PhD) AGS IF(MD) yrs< 35 yrs Nurturing & Developing Human Capital (Guppies) yrs19-23 yrs24-30 yrs        Talent Pipeline History | KBE | Biomed | S&E | Talent | Enterprise Guppies Senior Guppies Young Whales

56 A*STAR SCHOLARSHIPS BS International Fellowship (IF) for Medical Doctors PhD National Science Scholarships (NSS) A*STAR Graduate Scholarships (AGS) Imperial College London, UK National University of Singapore University of Illinois, Urbana- Champaign, USA Karolinska Institutet, Sweden University of Dundee, UK Nanyang Technological University Carnegie Mellon University, USA Nurturing & Developing Human Capital University of Cambridge, UK MBBS-PhD History | KBE | Biomed | S&E | Talent | Enterprise (3 years) (3-5 years) (8 years) (1-2 years)

57 MIT Physics (Malaysia) Human Capital: International Guppies Stanford Chemical Engineering (Shanghai) MIT Bio Engineering (Hong Kong) MIT Chemical Engineering (Germany) Stanford Computer Science (India) MIT Chemical Engineering (Vietnam)

58 Rockefeller Bacteriology Human Capital: Singapore Guppies Stanford Biochemistry Stanford Biochemistry Medicine/PhD Duke Medicine/PhD Camrbidge, London Computer Science Carnegie-Mellon

59 International Linkages History | KBE | Biomed | S&E | Talent | Enterprise

60 A*STAR Partners in PhD Training PhD studies in Biomedical Sciences, Physical Sciences and Engineering Scholars are supervised throughout their course of study Upon completion, Scholar is awarded PhD degree from the respective university Promotes collaborations between A*STAR Research Institutes & Universities LOCAL OVERSEAS History | KBE | Biomed | S&E | Talent | Enterprise

61 NSS(BS) - 3 yrs 232* AGS - 4 yrs 217 at partner universities NSS(PhD) yrs 200 overseas 46 Completed PhDs Nurturing & Developing Human Capital 695 Potential and Completed PhDs IF Correct as at 25 July 2007 Of which, 70 BS and 1 MBBS are NSFs Completed History | KBE | Biomed | S&E | Talent | Enterprise

62 Ng San San, Susanne Yar Kar Peo Keefe Chng Ho Ying Swan Wong Ee Tsin Yeo Yong Kee Zhang Rui Completed PhDs Completed PhDs Chow Keat Theng Andrea Pillai Amanda Chan Cleo Choong Chit Fang Cheok Anwesha Dey Andrew Wan Loo Li Shen Ang Hwee Ching Andrew Ang Gary Ng Sum Huan Leong Li Ming Yeo Sze Ling Leong Siang Huei Ng Kee Woei Yuen Chau Tng Hui Ching, Emilia Foo Yong Lim Ho Han Kiat Koh Kian Peng Lim Chin Yan Low Yen Ling Ng Sean Pin Ng Ching Ging Chua Yang Choo Chan Kok Ping Teo Hsiang Ling Tracy Ho Max Fun Quek Su Ying Wee Boon Yu Biomedical Sciences (30) Science & Engineering (16) As of July 07 Chaw Kwan Chun

63 Even More to Return with PhDs 33 Completed PhDs returned in projected to return in 2007, of which 13 have already been deployed. 80 projected to return annually on average from Correct as at 1 August 2007 Based on reaching annual scholarship targets up to 2010, and 10% attrition rate of NSS(BS) moving onto to PhD

64 LOCAL ENTERPRISE DEVELOPMENT R&D Intellectual Property Sustainable Vibrant Economy History | KBE | Biomed | S&E | Talent | Enterprise

65 Small & Medium Enterprises (SMEs) 46% of GDP and 63% of employment Local SMEs: 25% of GDP and 51% of employment Small is NOT Beautiful. Few small enterprises survive in the long term Elephants can Dance Challenges:  How to sustain broad-based economic growth?  How to encourage Innovation and Creativity? History | KBE | Biomed | S&E | Talent | Enterprise

66 Contribution of Local SMEs (2005) percent Note: SMEs are defined as enterprises with 30% or more local equity ownership, with net fixed assets investment of $15mil or less for manufacturing industries, and enterprises with 200 or less employees for service industries. Share of Enterprises Contribution to GDP Contribution to Employment Local SMEs 90.8% 25.4% 51.0% Foreign SMEs 8.6% 20.5% 11.5% All SMEs 99.4% 45.9% 62.5% Enterprises Value Added Employment percent History | KBE | Biomed | S&E | Talent | Enterprise

67 Number of Local Enterprises in Manufacturing & Services Sectors Industry-led: LEAD Prog with industry associations Source: EDB & DOS; excluded NPOs Notes: ^ Figures are SPRING’s estimates + This group of enterprises meet the SMEs’ definitions and are eligible for SME incentives * Excludes local SMEs in Construction, Utilities, Agriculture and Fishing (approx. 15,600 in 2005)

68 “EVERY GREAT OAK TREE STARTED AS A DETERMINED ACORN” Oak Trees Acorn TO HAVE A FOREST OF OAK TREES, WE NEED TO SEED MANY (SURVIVING) ACORNS! History | KBE | Biomed | S&E | Talent | Enterprise

69 Young ACORNs – “New Enterprises, Start-ups” Nurturing, Grooming – “Work of economic agencies” Oak Trees – “Future economic prosperity” “Economic Decline” History | KBE | Biomed | S&E | Talent | Enterprise LIFE DEATH BIRTH An acorn that does not grow up is a dead acorn !

70 The Economy is a dynamic Pyramid    Global Enterprises Large Enterprises (output > $50 million) Medium Enterprises (output < $50 million) Small Enterprises (includes young start-ups) History | KBE | Biomed | S&E | Talent | Enterprise

71 What Small and Medium Enterprises (SMEs) need ? Know How/What Management Global Enterprises Large Enterprises (output > $50 million) Medium Enterprises (output < $50 million) Small Enterprises (includes young start-ups) Money Markets History | KBE | Biomed | S&E | Talent | Enterprise

72 Management Partner MAS and Financial Institutions to enhance SMEs’ access to financing Money Partner IE and EDB to increase overseas market access Markets Know-how / Know-what Partner Universities to upgrade management competence Partner A*STAR, Universities and Polytechnics to help companies acquire & adopt technologies to innovate and grow The 3MK Strategy History | KBE | Biomed | S&E | Talent | Enterprise

73 Guiding principles1) Private sector isprimary source of funds2) Government playscatalytic role wherethere are gaps3) Involve private sectorpartners Enhance SME Financing Review Regulations Educate and Raise Awareness Provide Complementary Sources of Financing $ $ $ for SMEs

74 Improve Access to Overseas Markets  Facilitate access to Global markets  Link SMEs to MNCs and foreign SMEs  Provide Export Technical Assistance History | KBE | Biomed | S&E | Talent | Enterprise

75 Enhancing Know-how / Know-what Research Institutes Universities Polytechnics Technology service providers SMEs Catalyze projects Promote awareness Partial funding SPRING IES EDB Technology Innovation Programme (August 2007) $150m over 5 years to help local SMEs compete on technology, not just cost. SMEs can tap on knowledge centres to innovate Individual companies Consortia Industry Knowledge Centres History | KBE | Biomed | S&E | Talent | Enterprise A*STAR

76 Upgrade Management Skills Co-fund and train 1,000 SME CEOs and Managers over 5 years Funded local Universities to develop curriculum for SMEs EMBA and Executive Development courses History | KBE | Biomed | S&E | Talent | Enterprise Management Development Programme (April 2007)

77 3G – Grow, Glow and Globalise Global Enterprises Large Enterprises (output > $50 million) Medium Enterprises (output < $50 million) Small Enterprises (includes young start-ups) SPRING - Enterprise development A*STAR - Generating Know How - Attracting Whales (Talent) EDB - Attracting Overseas Investments IE Singapore - Oversee Markets Access History | KBE | Biomed | S&E | Talent | Enterprise

78 Key Challenges for Singapore Face Global Competition History | KBE | Biomed | S&E | Talent | Enterprise Transit from Manufacturing to “know-how”, a Knowledge Based Economy (KBE) Nurture an Enterprise culture: - Passion (risk taking) - Determination (hard work) - Vision (Global) - Focus (Operational)


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