Speech by MOS Low Yen Ling at the Public-Private Partnerships for Research and Innovation, NTU-AmCham-EuroCham Kick-off Event

Professor Subra Suresh, President of Nanyang Technological University,

Ms Lisa Liaw, Chairman of the American Chamber of Commerce Singapore (AmCham),

Mr Federico Donato, President of the European Chamber of Commerce Singapore (EuroCham),

Industry Partners,

Ladies and Gentlemen,

1. Good morning to all of you. I am delighted to be back at my alma mater, NTU. Earlier this year, I had attended the first NTU Service Week when the campaign, ‘We Belong’, was launched. I am proud of NTU and its strong record of achievements – an admirable feat for a 30 year-old university.

2. Today, we mark a significant milestone – the kick-off event for the NTU-AmCham-EuroCham’s Public-Private Partnerships for Research and Innovation. This exciting collaboration offers an excellent platform for our industry partners and NTU research teams to exchange knowledge and insights in Singapore’s innovation-led economy.

Research and Innovation Remain Instrumental to Our Success Story

3. In this era of hyper-innovation, countries must continually strive to develop high-value-added activities to remain competitive. This is especially relevant in Singapore’s context, given our small physical size and natural resource constraints. Since 1991, Singapore has embarked on our research and development journey to advance enterprise and economic transformation. The Government is greatly committed to  research and innovation, which deepens Singapore’s positioning as a global-Asia node of technology, innovation, and enterprise.

4. The Singapore Government has announced the investment of $25 billion in the Research, Innovation and Enterprise (RIE) 2025 plan from 2021-2025. This underscores our goal to sustain efforts in strategic domains such as advanced manufacturing, health and human potential, sustainability, and the digital economy. As part of RIE2025, we will scale up our innovation and enterprise platforms and aim to bring together stakeholders across the public and private sectors to foster a dynamic RIE ecosystem.

NTU’s Five-year Strategic Plan

5. In light of the global challenges and need to strengthen national resilience, I am heartened that NTU has developed a five-year strategic plan, known as the ‘NTU 2025’, to transform research, innovation, and education. The NTU 2025 strategy targets the sub-segments of the broader RIE 2025 plan, and focuses on promoting interdisciplinary research and strengthening the enterprise ecosystem.

Public-Private Partnerships for Research and Innovation – NTU-AmCham-EuroCham

6. As part of the NTU 2025, the collaboration between NTU, AmCham, and EuroCham facilitates a triple helix model of innovation where the academia, industries, and public agencies work hand in glove to achieve commercial and societal outcomes. This enhances Singapore’s positioning in the research arena and encourages more collaborative opportunities with U.S and E.U partner companies.

7. Through this collaboration, industry partners can leverage NTU’s industrial ecosystem and gain access to over 5000 world-class faculty members and state-of-the-art infrastructure, as well as connect with researchers who are at the forefront of innovation and enterprise. This will be supported by the Global Alliance of Industries @ NTU (GAIN), a matchmaker for cross-collaborations. We can look forward to more strategic partnerships and knowledge sharing amongst the research teams and the AmCham and EuroCham members are expected to be initiated.

8. Collaboration is vital to enhancing companies’ access to major innovation hubs and key demand markets. The pandemic has underscored the importance of our supply chain resilience and business agility. It serves as a timely reminder that innovation and partnerships are key drivers for long-term growth and competitiveness. We must not rest on our laurels. We need to continually widen our connections, seek opportunities, innovate, adapt to the dynamic environment and stay relevant. The NTU-AmCham-EuroCham collaboration complements existing programmes supported by the Singapore Government, such as the Global Innovation Alliance, and it will strengthen the international ecosystem by encouraging more cross-border partnerships.

9. I urge the local enterprises, researchers, and industry partners to tap on these platforms, to enhance the transfer of business capabilities, knowledge, and networks.

10. In closing, I would like to commend NTU for organising this event to strengthen public-private partnerships between the academia and the US and European industry partners. I hope this event will ignite new collaborations beyond today. I wish you a fruitful sharing and dialogue session ahead.

11. Thank you.