Singapore is well-placed as heart of innovation in Asia: DPM Teo Chee Hean

Deputy Prime Minister Teo Chee Hean says Singapore's strategic location places it at the heart of innovation and transformation in Asia. 

He says that with more than two decades of sustained investments in R&D, Singapore has built up a strong R&D ecosystem. 

He notes that Singapore is home to several world-class research universities, industry-oriented research institutes, and corporate labs. 

And the universities here have established research excellence in areas such as energy, water and biomedical sciences. 

Mr Teo, who's also Coordinating Minister for National Security and Minister for Home Affairs, was speaking at Techventure 2012 this morning.

Addressing the forum of over 700 researchers, innovators, venture capitalists and technopreneurs, he also highlighted Singapore's commitment to maintain R&D funding through the economic cycles. 

He said the S$16 billion that the government has set aside for research and development (R&D) from 2011-2015 underscores the intent. 

The minister remarked that these R&D investments will generate new knowledge, promote innovation, and build deep capabilities to sustain Singapore's competitiveness for the future. 

He added that Singapore's well-recognised strong commitment to the protection of intellectual property also enhances the environment for business and innovation.