Speech by Mr S Iswaran, Minister, Prime Minister's Office and Second Minister For Home Affairs and Second Minister For Trade and Industry, at Opening of IBN International Symposium, 10 January 2013, 9:00 am at Biopolis
Distinguished Guests,
Ladies and Gentlemen,
A good morning to all of you.
It is my pleasure to join you at the inaugural IBN International Symposium to commemorate the 10th anniversary of the Institute of Bioengineering and Nanotechnology (IBN).
Singapore as Asia’s Innovation Capital
2. Singapore is committed to developing an innovation-driven economy, and Research and Development (R&D) is a cornerstone of this economic strategy. Since the launch of our first National Technology Plan in 1991, Singapore’s total annual R&D expenditure has increased tenfold from $760 million[1] to $7.4 billion in 2011[2]. To further boost research, innovation and enterprise, we have committed to invest $16.1 billion from 2011 to 2015 under the RIE2015 plan.[3] This investment will continue to strengthen Singapore’s position as Asia’s innovation capital, and attract companies to form partnerships with Singapore.
3. These long term investments are already bearing fruits. In the 2012 Global Innovation Index by INSEAD, Singapore was ranked the most innovative country in Asia and the third most innovative country in the world.[4] This is a marked improvement from 2010, when Singapore was ranked seventh in the world. Our gross expenditure on R&D as a percentage of GDP is moving us into the ranks of research-intensive countries such as Finland, Sweden and Denmark. In 2011, it stood at 2.3 per cent, where we registered a record high of S$7.4 billion in gross expenditure. Business expenditure on R&D was on the rise as well, from S$3.9 billion in 2010 to S$4.6 billion in 2011. This good result is a testament to our positioning as an ideal location within Asia, for innovation-led activities across the various clusters in both the manufacturing and services sectors.
A*STAR – A Strategic Partner for Industry
4. Indeed, a central plank of our strategy is to foster a vibrant R&D eco-system that companies can tap to serve their future needs. Under the RIE2015 plan, a key thrust is to catalyse greater synergies in the R&D efforts of our public and private research entities, supported by a wide spectrum of capabilities that has been built in A*STAR’s research institutes and our academic institutions.
IBN’s role in converging for impact
5. In this regard, IBN has played an integral role by successfully forging many public-private partnerships. Multinational companies such as P&G, Unilever, Menicon, Roche and Janssen are collaborating with IBN to co-develop next generation materials and technologies for their products. For example, Menicon, Japan’s largest contact lens manufacturer has an on-going research collaboration with IBN to develop new materials for use in medical applications. The partnership could result in the creation of high-value jobs both in research as well as technical and managerial positions.
6. Besides MNCs, IBN has also worked with local SMEs to develop innovative products that will help them gain a competitive edge. For instance, SG Microlab Devices licensed IBN’s award-winning[5] MicroKit technology and launched its first product, the Lysonator, last year. Based on the Microkit’s automated diagnostics technology, the Lysonator is a laboratory tool that could homogenise and disrupt tissue samples in less than two minutes - an important feature since many samples are being processed on a daily basis. As a result of the collaboration, SG Microlab Devices has increased its staff strength from four in 2009 to 12 in 2012.
7. In addition to these public-private partnerships, IBN has been successful in commercialising research outcomes. Since its inception in 2003, IBN has licensed more than 46 patents and patent applications, and spun-off six start-up companies.
8. Two of IBN’s spinoffs, Curiox Biosystems and HistoIndex, have developed bioassay and liver fibrosis diagnosis platforms respectively, which are highly novel products that could revolutionise the healthcare industry. Collectively, they have raised over $7 million in funding, and received international recognition for their technologies and entrepreneurship. For example, HistoIndex was recognised by Biospectrum Asia as Asia Pacific’s Bioscience Industry Emerging Company of the Year in 2012.
The Next Lap for IBN
9. Going forward, IBN remains committed to strengthen its partnerships with industry, and our medical and academic institutions to create greater social and economic impact. For example, IBN’s collaboration with IBM Almaden Research Centre has led to biodegradable polymer nanoparticles capable of combating drug-resistant superbugs via a new mode of attack that is fundamentally different from antibiotics. Published in Nature Chemistry, this nanomedicine breakthrough was named one of 10 World Changing Ideas by Scientific American in 2011. I look forward to more of such successful innovations from the IBN-IBM partnership.
10. IBN has also partnered with Singapore’s and Southeast Asia’s first and only hospital dedicated to colorectal diseases management, Fortis Colorectal Hospital, to establish the Fortis-IBN TissueBank, or FIT, last year. The FIT will focus on expanding the epidemiology of colorectal cancer in Singapore and Asia to develop new approaches that can improve diagnosis, treatment and personalised therapy.
11. IBN has played a key role in grooming future scientists and engineers for the biomedical sciences industry through its dedicated Youth Research Program, or YRP. Since the YRP was launched in 2003, it has attracted over 1,600 students and teachers to participate in research attachments at IBN. Close to 130 former YRP students have been awarded scholarships for further studies in science, engineering and medicine. Another 26 former YRP students are currently pursuing research careers in IBN.
Conclusion
12. The inaugural IBN International Symposium today is an excellent platform to commemorate IBN’s 10th anniversary. Gathered amongst us are leading scientists from renowned institutions around the world who will share the latest research advancements in IBN’s four research focus areas, namely drug and gene delivery; cell and tissue engineering; biodevices and diagnostics; and pharmaceuticals synthesis and green chemistry.
13. In closing, I would like to congratulate IBN on its excellent achievements and contributions to Singapore over the past 10 years. I look forward to IBN building on its success in engaging global industry partners, supporting the growth of SMEs and start-ups, and fostering the development of excellent research talent for Singapore.
14. Let me wish everyone a fruitful symposium. Thank you.
[5] IBN’s Microkit won the Silver Award at the Asian Innovation Awards 2011, organised by The Wall Street Journal Asia. This is an event that aims to recognise innovations that break with conventional processes in creative ways.