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R&D spending surges in Singapore

Posted: 24 Oct 2005 ?? ?Print Version ?Bookmark and Share

Keywords:singapore? research? development? r&d? electronics?

Singapore witnessed a significant increase in research and development spending in 2004, with electronics and precision engineering firms accounting for much of the growth, a government report released Oct. 19 stated.

The National Survey on R&D 2004, conducted by Singapore's Agency for Science, Technology and Research (ASTAR), found total R&D spending surged 18.6 percent to just over $2.4 billion, nearly 64 percent of which came from the private sector.

ASTAR named the manufacturing industry, which allotted some $968 million to R&D last year, as the biggest single contributor to the cause. Electronics firms were particularly active, with semiconductor, computer peripherals, storage and component makers garnering $678 million for R&D initiatives.

The manufacturing sector also came out on top in terms of patents, filing some 500 patent applications last year, or 64 percent of the total, and winning over 73 percent of the 317 patent awards doled out by the government. Most went to electronics companies.

The survey found more companies in Singapore are reporting R&D activity, with 52 firms now boasting R&D budgets of over $6 million-- up almost 16 percent from last year.

"Research and innovation will be key drivers to transform the Singapore economy in the next 10 to 20 years," said Boon Swan Foo, ASTAR managing director, in a statement. "Corporate R&D laboratories and top R&D talent has been drawn to Singapore by the government's strong commitment to R&D and education, an attractive environment for R&D activities, and access to high quality, well-trained Singaporean and foreign R&D talent."

- Jonathan Hopfner

EE Times

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