Singapore officially put its newly-launched Innovation Centre (SGInnovate) into operation on November 24 with the goal of connecting scientists, enterprises and financial resources to promote the application of technology into creativity and economic and social innovation.

Singapore Tharman Shanmugaratnam (centre) at the ceremony launching the SGInnovate. (Source: businesstimes)

Singaporean Deputy Prime Minister Tharman Shanmugaratnam stressed that inspired from the Infocomm Development Authority of Singapore, SGInnovate will be an expansion of the National Research Fund in promoting start-up initiatives of new industries.

SGInnovate is the place where entrepreneurs, engineers and scientists from the network of partners like the National University of Singapore, the Nanyang Technology University, the Singapore Institute of Technology and the Singapore University of Technology and Design work together based on programmes and investment projects funded by the government.

The project will focus on building and commercialise ideas and creativity based on technology in fields like finance, smart energy, digital production, artificial intelligence, and robot.

Besides, scholars and students from Singaporean universities can make use of advantages of the community in SGInnovate to develop ideas in the space of technology and science.

SGInnovate is part of the Singaporean government’s plan worth 4.5 billion SGD (3.2 billion USD) in promoting creative and technological ideas to renovate ecosystem as well as the economy in the green, clean, and sustainable way, pioneering in building the first smart nation in the world.

(Source: VNA)