Mr Teo Ser Luck at the Launch of SAP Research Centre and Living Lab in Singapore, 16 Jan 2012

SPEECH BY MR TEO SER LUCK, MINISTER OF STATE FOR TRADE AND INDUSTRY, AT THE LAUNCH OF SAP RESEARCH CENTRE AND LIVING LAB IN SINGAPORE ON MONDAY, 16 JANUARY 2012, 11AM AT FULLERTON HOTEL

Dr. Vishal Sikka
Chief Technology Officer, SAP

Gerhard Oswald
Chief Operating Officer, SAP

Ladies and gentleman,

Introduction

Good morning. I am delighted to join you today for the launch of the SAP Research Centre and Living Lab. This centre is especially significant because it will be one of SAP’s largest research centres globally, as well as one of the largest research centres that a leading IT company has set up in Singapore.

Singapore as a Home for Innovation

Today, Singapore has a strong base of established industry verticals such as Finance, Healthcare and Logistics, and a reputation as a trusted location for data hosting, management and analytics. This provides a compelling proposition for technology companies to partner sophisticated enterprise users here, marrying technical and industry domain expertise, to co-innovate, test-bed and commercialise new solutions for global markets. SAP’s decision to establish their Research Centre and Living Lab in Singapore is a strong testament to this.

Having spent more than ten years in Singapore’s logistics industry, I have witnessed firsthand how infocomm technology played a key role in transforming the sector to become more efficient, more effective, and more competitive. The SAP Research Centre’s focus on logistics and urban solutions will complement Singapore’s expertise in these areas. It will also allow these industry sectors to better address the growing complexity of business needs and to derive greater value from the increasingly significant volumes of data generated.

I understand that SAP will also incorporate a commercialisation focus to the Research Centre and Living Lab, by including a team of engineers within the centre that will develop the company’s intellectual property, taking it a step closer to the market. SAP’s move affirms Singapore’s role as a hub where companies can innovate as well as be a value-adding partner that helps translate ideas to reality, creating new products and services for the world.

I am also very pleased to note that SAP Research has already formed research collaborations with Singapore-based universities and research institutes. Student internships will also be an integral part of its plans here. This serves as a model for industry partnership with our public institutes to develop new capabilities in Singapore. By bringing people from diverse backgrounds and experiences together, we hope to catalyse the development of creative solutions to challenging problems.

SAP is an important partner to Singapore

The Research Centre and Living Lab in Singapore marks yet another important milestone in the SAP-Singapore partnership that has been forged over more than 2 decades. SAP first set up its Asia-Pacific and Japan regional headquarters in Singapore in 1989 and the company’s presence in Singapore has grown from strength to strength. SAP now employs more than 800 employees with responsibilities for sales, marketing, consulting, and regional shared services in finance and human resources.In addition to the Research Centre and Living Lab, I am very happy that SAP Research has also decided to make Singapore its Asia Pacific Headquarters.

SAP’s growth in Singapore reinforces Singapore’s vision to be a Global-Asia Hub

Singapore’s successful partnership and growth with SAP is an endorsement of our key attributes, including our business-friendly environment, strong talent base, and connectivity to regional and global markets. It also underlines the growing role of Singapore as a Global-Asia Hub, where Singapore serves as a home base for global companies to orchestrate their pan-Asian business strategies, and for Asian enterprises to access global markets.

Conclusion

On behalf of the Singapore Government, I would like to thank SAP for making Singapore your choice location in Asia for Business and Innovation. I am confident that SAP will continue to leverage on Singapore’s strengths as a Global-Asia hub to tap into growth opportunities in Asia and beyond. I firmly believe that Singapore and SAP can look forward to many more years of successful partnership in the future.

Let me conclude by expressing my heartfelt congratulations to Vishal and the team on the launch of the SAP Research Centre and Living Lab in Singapore. I wish you every success. Thank you.