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Creating an Innovation Economy in Singapore Mr. Philip Creating an innovation economy in Singapore 12 February 2015 Presented by Mr. Philip Yeo Chairman, Standards, Productivity and Innovation for Growth SPRING, www.spring.gov.sg Chairman, Economic Development Innovations Singapore EDIS, www.edis.sg Singapore’s Economy Today Total Value 2013 GDP: US$295.1 bil* Output Added Financial Others Services Construction 34% 7% 6% Chemicals 4% 12% Other Services Electronics 28% 30% 18% 19% Manufacturing Precision 11% 13% Transport & Engineering Storage 7% Transport 11% 17% Engineering 16% Business Services Biomedical 21% Wholesale & 18% Sciences 8% Retail Trade General 8% 12% * 2 January 2015 –MTI press release indicates GDP for 2014 is estimated to have grown by 2.8 per cent (Manufacturing by 2.4 per cent) 50 Years of Economic Development Singapore: A Vibrant Business Hub ►7,000 Multinational Corporations 60% with global or regional headquarters. ► 37,400 Ease of Doing Business Strong IP Protection Best Labour Force International Companies Including 3,200 from China, 4,400 from India, and 7,900 from Rank Country Rank Country Singapore 89 ASEAN. United States 76 1Singapore 1Sweden Taiwan 75 Switzerland 75 2Hong Kong 2 Finland Belgium 73 3New Zealand 3Singapore Japan 73 ► 116,000 Ireland 66 4United States 4 Luxembourg Sweden 66 Small & Medium Enterprises 5Denmark 5Austria Netherlands 65 1,000 identified with the goal of Australia 65 growing revenues to S$100 Source: World Bank’s “Ease of Source: The Global Source: BERI’s 2010 Labour Doing Business” Index 2011 Competitiveness Report million. (2010,2011), World Economic Force Evaluation Forum Source: Accounting & Corporate Regulatory Authority, 2Q 2010. 3 Phases of Economic Development Jobs & Innovation GDP Growth Intensive Technology Intensive 2000s Capital Knowledge‐based Intensive 1990s Economy Skill Cluster Developments: Intensive 1980s One‐North Key Game Changer Development Labour Creating Business 200 hectares Jurong Island Intensive Parks: Twin Engine 2000‐20 Master Plan 1970s of Manufacturing Petrochemical Industrial estates and Services Complex with amenities at Singapore Science 1960s the fringe of Parks residential towns The First Industrial Township Flatted Factories Jurong Industrial Estate Our Approach: Industry Development We have no markets, no raw materials. All the industry we’ve created is illogical. But what choice do we have? ELECTRONICS CHEMICALS • 40% of world’s hard disk media production • 14 silicon wafer fabrication plants • 20 semiconductor assembly & test operations • 40 IC design centres PRECISION BIOMEDICAL SCIENCES ENGINEERING • Largest & most comprehensive aerospace maintenance, repair & overhaul centre in Asia • 70% of world’s production of jack‐up oil rigs and FPSO conversion; 20% of world’s ship repair market Industrial Development: Biomedical Sciences Manufacturing Output* S$22.9 billion (US$18.3 billion) Manufacturing mil Employment S$ 16,704 employees Value‐Added* S$11.8 billion (US$ 9.4 billion) GDP Share (2013): 3.81% Launch of Opening Total Employment: >20,000 BMS Initiative of Biopolis CAGR (2013): 10% Compounded Annual Growth Rates (CAGR) computed over 5 years *Value‐Add = Labour Cost + Depreciation + Interest Cost + Profit before Tax + Land Cost Pharma Manufacturing Plants Industrial Development: Biomedical Sciences Pharmaceutical Manufacturing Plants Tuas Biomedical Park Bulk API and secondary Bulk biologics Microbial and mammalian manufacturing plants manufacturing plant bulk biologics facility 1 Cell Therapy Facility 3 Bulk API plants with Tablet facility Bulk nutritionals pilot facility and Biologics Manufacturing plant pediatric vaccines Facility 2 plant Bulk API and Biologics and Bulk API nutritionals recombinant intermediates Vaccines plant plant therapies plant plant Biologics plant Biologics and API plant Quality & Operational Excellence ‐ Zero major observations with regulators Manufacturing for the world ‐ Track record producing for global markets ‐29 commercial scale manufacturing facilities ‐ Strong global logistics ‐7 of the top 10 Big Pharma ‐ Secure business environment ‐API, biologics, cell therapy, nutrition ‐ Access to talent Industrial Development: Biomedical Sciences BioMedical Sciences (BMS) Initiative PHARMACEUTICALS MEDICAL TECHNOLOGY Development of Bioimaging Medical devices, small molecule Bioprocessing info tech, diagnostics therapeutics Genomics & Proteomics Molecular & Cell Biology Drug/Biologics Discovery and Development Bioengineering & Nanotechnology Computational Biology Development of Immunology INDUSTRY INDUSTRY high‐value nutrition Skin Biology Development of and personal care / Nutritional Sciences protein‐based consumer products Metabolic Disease therapeutics NUTRITION & BIOTECHNOLOGY PERSONAL CARE & BIOLOGICS BIOMEDICAL SCIENCES DIRECTION BENCH BEDSIDE Basic Translational Clinical Service Delivery Ministry of Health Public Sector Healthcare Groups Research Institutes Institute of Medical Biology •Ethical regulations/framework for •Skin Basic & Translational biology clinical research, e.g. IRBs • Institute of Molecular & Cell • Genetic Diseases 1. Singapore Health Services •HSA – Evaluation capabilities for new Biology • Regenerative Medicine (including • Singapore General Hospital technologies stem cells) •KK Women and Children’s Hospital •Genome Institute of • National Cancer Centre Singapore Experimental Therapeutics National Medical Research Council • National Dental Centre • Clinical research strategy • National Heart Centre Centre •Grant management • National Neuroscience Institute • Institute of Bioengineering & •Drug Discovery & Development • Manpower development 2. National Healthcare Group Nanotechnology from target validation to early • Getting research outcomes into phase clinical trials • Tan Tock Seng Hospital • Bioprocessing Technology usage in patient care • Institute of Mental Health Institute • National Skin Centre • Communicable Disease Centre • Bioinformatics Institute Hospital Institutions 3. National University Health System Consortia 1. Tertiary Centres • National University Hospital • Singapore BioImaging Consortium •NUS School of Medicine • National University Hospital • National University Cancer Institute • Singapore Immunology Network • National University Cancer Institute • National University Heart Centre • Singapore Stem Cell Consortium •NUS Cancer Science Institute • National University Heart Centre (now subsumed into IMB) 4. Alexandra Health •Khoo Teck Phuat Hospital •Duke‐NUS Graduate Medical Outram Campus 5. Jurong Health • Singapore General Hospital School • Alexandra Hospital Singapore Institute for Clinical • National Cancer Centre Sciences • National Heart Centre •Ng Teng Fong General Hospital • Develop programmes in • National Neuroscience Institute 6. Eastern Health Alliance translational & clinical medicine • Singapore National Eye Centre • Changi General Hospital •Focus on Growth, Development & •Duke‐NUS Graduate Medical School Metabolism Private Sector Healthcare Groups • Develop Clinician Scientists 2. Others with specific capabilities • Parkway Group •KK Women and Children’s Hospital • Raffles Medical Group •Thomson Medical •Tan Tock Seng Hospital 9 Building Biomedical R&D Capabilities Phase 1: 2000 – 2005 Phase 2: 2006 – 2010 Developing Basic Translational & Science Capabilities Clinical Research Other BMRC labs and joint initiatives: Institute of p53 Laboratory Bioengineering & Singapore Institute Molecular Nanotechnology for Clinical Engineering Sciences Laboratory Genome Singapore Institute of Bioimaging Singapore Consortium Experimental Translational Therapeutics Centre Laboratory in Genetic Medicine Bioprocessing Singapore Technology Immunology Institute of Institute Network Molecular & Cell Bioinformatics Institute of Biology Institute Medical Biology Clinical Imaging Research Centre Before 20002001 2003 2005 2006 2007 2011 2000 Phase 3: 2011‐2015 Integrating for Impact BMS Phase 1: Developing Basic Research Capabilities World Class Expertise World Class Infrastructure World Class Talent Core technologies and expertise Biopolis: 4M sq ft integrated Pioneers and thought leaders in areas including genomics research campus from around the globe analysis, animal disease models, stem cells, drug screening, construction and mass production of monoclonal antibodies, bioimaging Institute of Molecular & Singapore Cell Biology Stem Cell Singapore Institute Consortium for Clinical Sciences Institute of Experimental Bioengineering & Therapeutics Nanotechnology Centre Genome Singapore Bioprocessing Institute of Bioimaging Institute of Technology Singapore Bioinformatics Consortium Medical Biology Institute Institute Pre‐2000 20002001 2002 2003 2004 2005 2006 2007 onwards11 BMS Phase 2: Translational & Clinical Research (TCR) Efforts Basic Translational and Clinical Phase I, II & III Medical Research Research (TCR) Clinical Trials Applications Initiatives to promote TCR Supporting Infrastructure 1 (TCR) Flagship Programme • Investigational Medicine Units •5 strategic disease‐orientated areas • Singapore Clinical •Each awarded S$25mil over 5 years Research Institute Cancer Metabolic Disease Eye Disease • Clinical Imaging Neuroscience Infectious Diseases Research Centre Talent Attraction / Development Developing a pipeline of 2 Bedside & Bench Grant Call Clinician Scientists •Foster collaboration between basic •S'pore Translational Research scientists and clinical investigators Investigator Award (STaR) • Funded for up to 3 years • Clinician Scientist Award (CSA) BMS Phase 3: Integrating for Impact Basic Translational
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