Environmental Technologies, Digital Media to be new areas for R&D

Two new areas will be the focus for research and development efforts in Singapore over the next 10 years. They are Environmental and Water Technologies and Interactive and Digital Media. With an initial war chest of S$5 billion for 5 years, its directive is to fund R&D initiatives that would reap economic benefits for Singapore.

In the water industry, Singapore's expertise in using innovative technologies to produce clean water from waste water reclamation and seawater desalination has been exported to China and the Middle East. In digital media, big names, such as Lucasfilm, have set up shop here even as local companies are building up capability in areas like animation. Both areas are expected to grow at double digit rates annually world-wide.

The Foundation is looking for concrete results. It hopes to double jobs from the current 40,000 to 80,000 and triple value-added to the economy from the current S$8.9 billion to S$27 billion a year by 2015.

(2006-01-13 08:06:38 SGT) [Tech] Permalink

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