SPEECH BY MR LEE YI SHYAN MINISTER OF STATE FOR TRADE AND INDUSTRY AT THE OFFICIAL OPENING OF FUSIONWORLD ON MONDAY, 20 OCTOBER 2008, AT 9.50AM AT FUSIONOPOLIS@ONE-NORTH
Mr Lim Chuan Poh, Chairman of A*STAR
Professor Charles Zukoski, Chairman of A*STAR Science and Engineering Research Council
Professor Chong Tow Chong, Executive Director of A*STAR Science and Engineering Research Council
Distinguished Guests
Ladies and Gentlemen
Good morning
Introduction
I am delighted to be here today to officiate the opening of Fusion World. In the midst of the current financial turmoil, the opening of Fusion World is indeed a breath of fresh air. Welcome to this special occasion.
More than a multi-sensory and interactive exhibition gallery that showcases more than 60 technologies, Fusion World illustrates how excellence in R&D and innovation can transform our home and office environment into smart environment. It also brings us back to the point that in despite of the prevailing economic uncertainties, we should continue to invest in R&D. This allows us to enhance our core strengths and sustain future growth and progress.
Our commitment to R&D is evident. We encourage firms to establish their corporate R&D centers. We also make our environment conducive to continue to host top scientific and research talents conducting frontier researches in Singapore. Our R&D expenditure last year stood at 2.61% of GDP. We are on track to achieve our target of 3% for 2010, bringing us closer to other small but effectively high-tech countries such as Finland and Sweden.
A*STAR plays a critical role in our national R&D drive. With about 2,500[1] research scientists and researchers from more than 50 countries, and combined capabilities spanning the range of science and engineering, and biomedical sciences disciplines, A*STAR is well-poised to drive and transform R&D in Singapore and collaborate with local industry to develop new research capabilities in areas that the world economy would need. To this end, A*STAR has pro-actively reached out to industry through its Growing Enterprises with Technology Upgrade or Get-Up programme. Some 166 A*STAR researchers have joined the ranks of 116 SMEs to help jump-start and strengthen their in-house R&D capabilities.
Growth of R&D Industry
I would like to encourage our local companies to be more technologically savvy, so as to harness technology and create new niche areas. This would allow them to move up the value chain, offer more innovative products and services, so as to compete in the global knowledge-based, innovation-driven market.
Some of our local companies have done so by capitalizing on the knowledge, experience and expertise available in our public research institutes. For example, our precision engineering industry has collaborated with the Singapore Institute of Manufacturing Technology to move beyond traditional areas such as semiconductors and electronics, to new areas, such as aerospace, automotive, medical technology and clean energy.
Maximizing A*STAR’s Technologies
I understand from the organizers that Fusion World showcases a number of A*STAR’s technologies. Some of the technologies on display have already been adopted and achieved much success globally. Let me briefly elaborate on the two examples.
The first example is the new range of micro-needles developed by the Institute of Materials Research and Engineering. By using a mix of silicon, metal and plastic, our researchers have significantly reduced the cost of producing micro-needles. Sumitomo Corporation Asia and A*STAR have set up a joint venture company, Micro point Technologiesto roll out micro-needles commercially to allow more patients access to pain-free injections and extractions.
Another noteworthy example is the non-slip, transparent coating developed by the Singapore Institute of Manufacturing Technology for glass flooring to make it slip-resistant even when wet. This has been a commercial success. A local glass manufacturing company – Singapore Safety Glass – has been able to penetrate local and international markets including the United States, Japan and Malaysia with this technology. This product has been identified as one of the "Products of the Year for 2005" by US-Glass Magazine.
Conclusion
Fusion World shows us in tangible ways how collaborations between public and private sector can lead to cost effective and innovative solutions with market potentials. I hope we can refresh the exhibits here in the Fusion world ever so often reflecting the speed of innovations in this country. My heartiest congratulations to the opening of Fusion world.
Thank you.
[1]The 2,500 research scientists and engineers in A*STAR refer to PhDs, post-docs, master's degree holders, and bachelor degree holders.