Singapore needs innovation champions: Heng Swee Keat

Finance Minister Heng Swee Keat at the Future Of Us exhibition at the Gardens By The Bay.
Finance Minister Heng Swee Keat at the Future Of Us exhibition at the Gardens By The Bay. PHOTO: ST FILE

SINGAPORE - Firms here should make full use of the expertise and infrastructure offered by research institutes to "push the frontiers of manufacturing technology" and become innovation champions, said Finance Minister Heng Swee Keat.

Mr Heng was speaking on Monday (April 11) morning after leading representatives from various economic agencies on a tour of the Agency for Science, Technology and Research or A*STAR's Singapore Institute of Manufacturing Technology (SIMTech) to understand its collaborations with industry for innovation and growth.

Mr Heng told reporters: "I think we need to have innovation champions in different companies because they can proliferate and make innovation more pervasive."

SIMTech, noted Mr Heng, has already been collaborating with manufacturers on various projects.

"SIMTech will play a very important role in the Industry Transformation programme because we have every intention to ensure that our manufacturing sector remains competitive and that we move up the technology curve," said Mr Heng.

"If we organise our efforts better, we will make a very important impact," he added.

Last year, SIMTech collaborated with more than 690 firms across the electronics, semiconductor, precision engineering, medical technology, aerospace, automotive, marine and logistics industries.