Iswaran wants collaboration in deep tech, genome and bioinformatics research
The Department of Science and Technology (DST) and Enterprise Singapore (ESG) will conduct joint research for innovative projects between their corporations while startups will be co-funded to enable them to capture new business opportunities.
“This is especially so in areas like the green economy, advanced manufacturing and agritech which are of mutual interest to both countries’ economic transformation and growth,” Edwin Chow, Assistant Chief Executive Officer, Innovation & Enterprise, ESG, said following the signing of a MoU at the India-Singapore Technology Summit 2022, held virtually and co-organised by Singapore’s Ministry of Trade and Industry (MTI) with DST and the Confederation of Indian Industry (CII).
The MOU, on cooperation in the Fields of Science, Technology, and Innovation, was signed by Permanent Secretary (Development), MTI, Lee Chuan Teck, and DST Secretary S Chandrasekhar. It was witnessed by Minister-in-charge of Trade Relations, S Iswaran and his Indian counterpart, Minister of State (Independent Charge), Ministry of Science and Technology, Dr Jitendra Singh.
The MOU will encourage, develop and facilitate collaborative projects in fields of mutual interest, said a MTI release on 23 Feb 2022.
These projects could advance progress in research, innovation and technological development in a range of sectors, including advanced engineering and manufacturing; energy, climate, and natural resources; health; and other emerging technologies.
Speaking on signing the MoU, Lee said, “Singapore and India look forward to taking our economic collaboration further in the fields of science and technology. I am confident that this MOU will catalyse further economic collaboration as our research institutes and companies work together in areas such as climate change and healthcare.”
Following the MOU, ESG and India’s DST also signed an Implementation Agreement (IA) to bring together corporates and startups from both countries to collaborate on developing new innovative technologies and solutions.
DST and ESG will open at least one call for proposal annually to invite joint proposals by Singapore and Indian companies and funding will be provided for the final approved innovation projects.
The IA was signed by Chow and Director, International Cooperation, DST, Dr Sanjeev Varshney.
In his Keynote address to the summit, Minister Iswaran noted that the bilateral trade in goods between both countries has increased by 35% from SGD$19.8 billion in 2020 to SGD$26.8 billion last year.
“It is a sign that our economies are recovering from the Covid-19 crisis,” he added.
Iswaran suggested three areas in which both countries could collaborate. The first is deep tech, which includes technologies such as artificial intelligence and the Internet of Things and involves the construction and built environment sector. The two other areas are clean tech, involving renewable energy, as well as genome and bioinformatics research. fiinews.com
