SINGAPORE - The Agency for Science, Technology and Research (A*Star) has increased its industry projects by nearly six times over the last five years, from 1,547 projects in 2010 to 8,965 in 2015.
And for every 100 these industry projects, 45 are in collaboration with local enterprises, 80 per cent of which were small and medium-sized enterprises.
"We have in fact observed that these local companies are increasingly recognising the importance of research and innovation in improving their productivity, and developing new products that will enable them to be more competitive on the global stage," said A*Star chairman Lim Chuan Poh on Monday (April 25).
Giving the media an update on A*Star's work in research, innovation and enterprise efforts in the last five years, Mr Lim said the agency has helped local companies by lending them its expertise.
Over the last five years, more than 300 researchers were seconded to more than 160 companies. The agency also seeded more than 70 start-ups that attracted more than $90 million in follow-on funding.
Collectively, more than $1.6 billion in research and development spending were catalysed through collaborations with A*Star, he said.