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.
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