Singapore is a country that has given great importance to its research and development because the natural aspect of the country is on the lesser side. Since its independence in 1965 singapore research and development has taken the country forward by encouraging the industries to take necessary risks. The research and development are important to people because it gives powerful insight to industries for creating new products.
An insight into the research and development of Singapore
Singapore has given great importance to its research and development sector. The government has always tried to encourage the R&D sector by investing in it and allowing the industries to create new products and keep the competition alive in the market.
The data on research and development is collected through the national survey of R&D that is conducted annually by Astar or the Agency for science and technology and research. The survey covers the research and development activities in all the public and private research and the government sectors.
So this way the government of Singapore keeps a close tab on its research and development tactics and helps industries to maintain a healthy competition with each other.
The advantages of Research and Development
- Investment in research and development has always been the driving force in the innovation and growth of an industry
- Great support by the government so that their home industries grow without the help of the outside intervention
- Tax incentives and grants by the government are also a plus point of the research and development sector
In short singapore research and development is a way of supporting the industries and encouraging them to come out with innovative ideas and new products that the consumers find useful.