As emerging industries such as clean technology and biomedical engineering gain traction in Singapore, entrepreneurs are in good stead to tap a new generation of workers with R&D background and industrial know-how.
Singapore (PRWEB) August 15, 2011
Singapore’s Economic Development Board (EDB) and Ministry of Education (MOE) have recently announced the Industrial Postgraduate Program (IPP), a postgraduate program that aims to bridge the gap between academic and industrial spheres of research and development (R&D) in Singapore. The IPP, which is backed by a S$70 million grant from EDB, is a collaborative effort between Singapore-based universities Nanyang Technological University and the Technical University of Munich as well. The program is set to foster closer ties between academia and industries and in turn, bolster Singapore’s industrial R&D sector, reports the leading Singapore business setup portal SingaporeSetup.com.
The IPP is set to benefit approximately 200 students over the next five years. Under the program, IPP students will be able to work on projects with more than ten local and multinational companies as part of their studies. They will also enjoy the waiver of tuition fees and earn up to S$3,300 monthly as well. Analysis by SingaporeSetup.com shows that the program, which accepts Singaporeans and Singapore permanent residents only, will benefit the larger R&D business community.
Ms. Catherine Lee, a Senior Editorial Board Member of the http://www.SingaporeSetup.com portal commented, “The launch of the IPP is a strong indication that R&D is a vital component of Singapore’s economic blueprint for the years to come. It also shows that Singapore is making inroads in innovation as well as value creation in the region by anticipating the needs of its business community. The IPP is a platform by which academic experts are nurtured into industry-ready talent who add value to the organizations they choose to contribute to. In turn, the deeper pool of academics with industry experience will encourage science, technology and engineering entrepreneurs to incorporate companies in Singapore.”
Further analysis by SingaporeSetup.com shows that the IPP is part Singapore’s Research, Innovation and Enterprise (RIE) 2015 goals and fulfils two of its six thrusts. According to Singapore’s Ministry of Trade and Industry, RIE 2015 aims to develop industry-ready talent and elevate Singapore’s position as a research hub. It also hopes to encourage collaboration between the private and public sector with the aim of creating products which will benefit society and the economy. RIE 2015, which was announced in September last year, has been backed by a cool $16.1 billion funding. By 2015 Singapore’s aims to be an innovative and research-friendly economy, very much like Finland or Sweden.
“Since its first National Technology Plan in 1991, Singapore has been bullish in bolstering its R&D efforts, recognizing that innovation is crucial to its economic future. As emerging industries such as clean technology and biomedical engineering gain traction in Singapore, entrepreneurs are in good stead to tap a new generation of workers with R&D background and industrial know-how. Foreign entrepreneurs who are interested in starting a business venture and relocating to Singapore have the option of applying for either the EntrePass or Employment Pass work visa schemes,” Ms. Lee added.
Targeted for global entrepreneurs and firms, SingaporeSetup.com is the leading Singapore-oriented information portal offering comprehensive and up-to-date information about establishing and operating a business in Singapore.