Singapore steps up efforts to turn research into real-world impact under S$37 billion RIE2030 plan

The grant can fund up to S$2 million per project, while projects that have secured early involvement of investors can receive up to S$3 million. 

“This helps ensure that commercial considerations are incorporated early in the translation process, improving the prospects of translating promising research into globally investible deep-tech ventures,” said NRF. 

The 2030 plan also sets out new and enhanced schemes to nurture research and entrepreneurial talent, including an attachment programme for young researchers and scholarships for local students pursuing a PhD.

An additional S$1 billion has also been set aside for the Startup SG Equity scheme to continue investing in early-stage startups.

GRAND CHALLENGES AND FLAGSHIPS

Under the plan, S$3 billion will be set aside for large-scale initiatives dubbed “flagships” and “grand challenges”. Semiconductors and longevity were announced as the first two focus areas last December, followed since by transport and connectivity and decarbonisation.

Research into transport and connectivity will cost an estimated S$800 million and aims to strengthen Singapore’s status as a global connectivity innovation hub. The Ministry of Transport, which will lead the initiative, said in July that it will support the planning and management of the movement of goods and passengers in, out and through Singapore as a “single, connected system”.

Decarbonisation research is also estimated to cost S$800 million, aimed at advancing low-carbon technologies for Singapore’s industry and power sectors. It will begin with a programme to co-fund and accelerate low-carbon technology pilots in these sectors.

Semiconductor research will receive S$800 million and longevity research S$350 million. The remaining S$250 million will serve as “a buffer for future, unanticipated needs”, said NRF.