Speech by Minister-in-charge of Energy and Science & Technology in the Ministry of Trade and Industry Dr Tan See Leng at the Singapore Medical Device Venture Showcase

Distinguished guests,

Ladies and gentlemen, 

1.             Good afternoon. It is a pleasure to be here at the Singapore Medical Device Venture Showcase. 

2.             Looking around this room — with founders, researchers, investors, venture builders, industry partners, and government agencies, together — I see the ecosystem that Singapore is building. 

a.    At this year's Committee of Supply debate, I spoke about how our R&D translational platforms such as MedTech Catapult are attracting global partners, uplifting local enterprises, and anchoring high-value activities in Singapore. Today’s showcase brings that to life. 

3.             There is good reason why we are placing emphasis on Medical Technology, or MedTech. 

a.    Healthcare systems globally are facing growing pressures from ageing populations and rising demand for quality care. 

b.    At the same time, technological advances are expanding possibilities for earlier diagnosis and personalised treatments. 

c.     These trends are strengthening demand for innovative medical technologies. 

4.             Singapore is well-positioned to capture these opportunities as a proven global hub for biomedical innovation. Over the years, we have built deep capabilities across research, product development, advanced manufacturing, and global market access, as reflected in the strength of our MedTech sector. 

a.    Our MedTech manufacturing output has grown over threefold from S$5.5 billion in 2013 to S$20.3 billion in 2024. 

b.    Today, Singapore has more than 400 global and local MedTech enterprises, employing over 17,000 people. 

c.     This strong industry base provides a solid foundation for MedTech companies to develop and manufacture products from Singapore. 

5.             Our public research ecosystem has also produced promising innovations and companies that are making an impact beyond Singapore. 

a.    Take Biobot Surgical, born out of a collaboration between SingHealth and Nanyang Technological University. It developed the Mona Lisa, a surgical robot for prostate biopsies and ablations, now deployed in more than 35 countries, with over 30,000 procedures performed. 

b.    Respiree, an A*STAR spinoff, has also developed an AI-driven wearable for cardio-respiratory monitoring that has secured two Food and Drug Administration clearances for clinical and home use. 

6.             We want to create more of such success stories, by continuing to strengthen three areas. 

7.             First, accelerating translation of research into clinically-relevant products. A*STAR’s MedTech Catapult plays a key role in helping MedTech companies bridge the gap between research and market adoption. Since its launch in 2025, it has built a network of over 40 local suppliers and contract manufacturers and supported nine companies in their productisation journey. 

a.    One example is Bypass Solutions, a developer of innovative surgical devices, which has completed key preclinical studies, is progressing towards First-in-Human trials, and preparing to close its Series A funding round. These are important milestones that can unlock further investment and commercial growth. 

b.    Moving forward, MedTech Catapult will expand its efforts in providing clinical and regulatory support, as well as venture acceleration. 

8.             Second, we are strengthening access to capital and venture-building talent as innovation requires these to sustain the long journey of clinical trials and regulatory approvals to reach market. Founders also need experienced mentors and global networks to help them scale. 

a.    I am therefore pleased to announce that Santé Ventures is launching Santé Accel Singapore, in partnership with SG Growth Capital. This new platform will incubate and invest in Singapore-based companies across our medtech, biotech, and healthtech sectors, while developing local venture-building talent. By bringing together Santé’s expertise, seed funding and global networks with Singapore’s innovation strengths, this partnership will help strengthen our healthcare innovation ecosystem and further support the development of globally-competitive companies from Singapore. SG Growth Capital and Santé Ventures will share more details later.

9.             Third, a commercially viable MedTech business needs more than good science — it requires regulatory clarity, patient capital, manufacturing capabilities, industry partnerships and talent. Singapore has built strong foundations across these areas, and we must continue to deepen partnerships across the full innovation pathway to move promising innovations to market. 

a.    I am therefore heartened that Singapore’s Health Sciences Authority (HSA) will partner Fogarty Innovation to strengthen its regulatory capabilities, providing a more supportive environment for new MedTech ventures. Adjunct Professor Raymond Chua, CEO of HSA, will share more details later.  

10.          Ultimately, our goal is to build a vibrant MedTech ecosystem that translates research into impact.  Today’s showcase reflects what Singapore can achieve when researchers, entrepreneurs, investors, industry partners, and government agencies come together towards this shared purpose. I encourage you to make full use of today’s showcase to explore new partnerships and back the innovations that will define the next decade of healthcare. 

11.          Thank you.