British newspaper The Guardian reported that Oxford University is raising money for investment by issuing bonds.
Singapore should take the same route and cut the apron strings of the local universities.
The universities here should mature and stand on their own and open up bond issues that are specific to their own strategic needs and focus.
There are a few advantages.
First, the Singapore Government can invest more in the pre-school sector to improve curriculum and bring down fees.
Second, the local universities can leverage the high global rankings that they currently attain.
Third, with the new bond funds, the local universities can quickly go into new industries without being bogged down by bureaucratic red tape. The administration can also create more bursaries for needy students and urge more academics to monetise their intellectual properties and patents.
Colin Ong Tau Shien