Monday, December 14, 2009

Innovation in Singapore

Singapore does well on the many global innovation rankings, but the Singapore Competitiveness Report 2009 (released on 11/25/09, 92 pgs) by the Asia Competitiveness Institute at the Lee Kuan Yew School of Public Policy points out some weaknesses in the country’s innovation system. Singapore's profile of relative strengths and weaknesses when it comes to innovation is atypical of advanced economies such as South Korea, Iceland, the US, and Japan. Instead, it is more similar to economies like Armenia, Peru and Uganda, the report says.

“Doing the math on innovation,” a Business Times article, discusses the report’s conclusions that Singapore should focus more on the commercialization of its science research. Instead of being an R&D hub, Singapore can position itself as a 'global connector of knowledge', refining its 'innovation-driven economy ambition' to include developing new concepts, management strategies, processes and business models.

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