Saturday, September 15, 2012
Singapore - A*STAR Wins 2012 Frost & Sullivan Innovation Development Award
Singapore’s Agency for Science, Technology and Research (A*STAR) has won the 2012 Asia Pacific Frost & Sullivan Award for National Innovation Development.
Frost & Sullivan, a Mountain View, California-based consultancy and coroporate training firm, has awarded Singapore’s Agency for Science, Technology and Research (A*STAR) with its 2012 Asia Pacific Frost & Sullivan Award for National Innovation Development.
The inaugural award recognizes Singapore’s lead science agency for improving and nurturing the ecosystem of Singapore in applied sciences and technology, creating value for the country beyond a mere investment channel.
“While research and development (R&D) has been increasingly occupying center stage as a key factor for sustainable long-term economic growth, translating R&D investments into palpable competitive advantages for the economy is a continuous challenge for economic development agencies,” said Frost & Sullivan VP, Emerging Market Innovation and Economic Development Innovation, Sath Rao.
“A*STAR has taken a three-pronged approach to ensure that the right infrastructure, opportunities and incentives exist for the active promotion of innovation: the establishment of research facilities that allow world-class research; the development of the nation’s technological prowess with focus on growing Singapore’s economy, catalyzing new growth areas; and the development of human capital.”
With its 20 research institutes mainly located at two hubs called Fusionopolis and Biopolis, A*STAR has helped to enhance the attractiveness of Singapore as an R&D destination through its critical mass of scientists who focus on integrated and multi-disciplinary projects.
According to INSEAD’s Global Innovation Index, Singapore ranks as the third-most innovative country in the world (2012) for the second consecutive year. Frost & Sullivan says A*STAR has played a vital role in attracting and retaining foreign investment into Singapore by positioning her as a knowledge-driven economy.
In July 2012, Tokyo-based Chugai Pharmaceutical Co., Ltd. opened a SGD$200 million antibody laboratory at A*STAR’s Biopolis hub that will conduct research into new antibody drugs.
Chugai Pharma follows a number of companies that have established collaborations with A*STAR, such as Rolls-Royce, Baidu Inc., Picosun Oy, Seiko Instruments Inc. and GE Global Research, among others.
“These efforts reflect Singapore’s vision to provide new value added technologies, based on visionary innovation. This is having an impact on the global economy and the investment community is taking notice,” said Frost & Sullivan Chairman, David Frigstad.