Wednesday, July 05, 2006
[RealEdge] TodayOnline : A Silicon Valley in Singapore in 10 years?
 This story was printed from TODAYonline | |
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| A Silicon Valley in Singapore in 10 years? Coupled with manufacturing strength, this would sharpen country's competitive edge Wednesday July 5, 2006 Christie Loh christie@newstoday.com.sg Ask Mr Wong Ngit Liong why a Silicon Valley has never sprouted here, and the founder of Singapore's largest electronics contract manufacturer will tell you: "The time has come." While Singapore devoted the last 41 years to growing from "a nation of shopkeepers and traders" to an industrialised economy with manufacturing capabilities, the country will likely take the next 10 to 20 years to cultivate a research and development (R&D) ecosystem that will hopefully rival the world's best. The timeframe is shorter because "for R&D, we're already in it. There are several companies in Singapore that have already embarked on product design and development. We have to trigger the gun to accelerate the process," the 64-year-old Mr Wong, who is the chairman and chief executive of mainboard-listed Venture Corp, said in an interview at his office yesterday. The trigger is the Government's commitment of billions of dollars and top brains to building an R&D pillar to drive economic growth. Helping evaluate ideas are Mr Wong and 17 other members of the high-level Research, Innovation and Enterprise Council (RIEC), which today kicks off its inaugural meeting that will span three days. Their deliberations will largely affect three industries biomedical sciences, environmental and water technologies, and interactive and digital media that the Government has decided to focus on initially. But the impact will go beyond those sectors, which though prosperous today, may not be prospering 20 years from now. Mr Wong said: "Are we able to create an ecosystem of enterprising companies that can continuously create innovations? That's the challenge we're facing. It's not somebody spending so much money in R&D that will spawn innovative products. It's the calibre of the people, the determination and human spirit that counts a lot more." Take, for example, an entrepreneur Mr Wong met in Switzerland during his recent tour of Europe's companies. The Swiss microelectronics engineer added a modern dimension to the age-old art of intricate watch-making by combining his skills with micromechanics to create high-tech devices for the healthcare industry. "Innovation can come from places least expected," Mr Wong said. What is more, R&D, which is a "continuum of activities", would abound with business opportunities for Singapore's small firms. Ultimately, R&D's goal is to sharpen a country's competitive edge by churning out marketable products. And once Singapore couples a research community with its existing manufacturing strength, the tiny red dot needs only to establish a strong network of 'product-marketers' who can foresee customer requirements to become an economic powerhouse, Mr Wong said. | |
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// posted by Shajahan @ 10:12 AM 