SINGAPORE, Aug 31 — The National Research Foundation (NRF) has released the full details of the S$37 billion (RM117 billion) Research, Innovation and Enterprise (RIE2030) plan, outlining a major shift toward accelerating the translation of scientific research into commercial products, deep‑tech ventures and solutions for national challenges.

CNA reported that a centrepiece of the plan is the new Research Translation Grant, designed to close long‑standing gaps in commercialisation. The grant will fund up to S$2 million per project, and up to S$3 million for projects that secure early investor involvement — a move aimed at ensuring commercial considerations are built in from the start. “This helps ensure that commercial considerations are incorporated early in the translation process,” NRF said.

The RIE2030 plan marks Singapore’s largest research investment to date, channelled into economic competitiveness, strategic resilience and long‑term technological leadership.

Four major domains have been identified as national priorities:

  • Semiconductors — S$800 million
  • Longevity research — S$350 million
  • Transport and connectivity — S$800 million
  • Decarbonisation — S$800 million

Transport research will support Singapore’s ambition to manage passenger and cargo flows as a “single, connected system”, while decarbonisation efforts will co‑fund low‑carbon technology pilots in industry and power sectors. A remaining S$250 million will be kept as a buffer for emerging needs.

To strengthen the deep‑tech ecosystem, the government is injecting S$1 billion into the Startup SG Equity scheme, ensuring early‑stage companies have access to growth capital. New scholarships and attachment programmes will also be introduced to nurture research and entrepreneurial talent.

The report reviewing the previous RIE cycle found that business R&D expenditure rose 64 per cent, from S$5.5 billion in 2018 to S$9 billion in 2023, with industry R&D jobs growing 33 per cent. However, deep‑tech deal activity has declined since 2023, mirroring global trends amid tighter financial conditions.

Despite this, Singapore’s research ecosystem delivered more than 250 impactful findings between 2021 and 2024 — including modelling studies that improved wind flow in new housing precincts by up to 15 per cent, and floating solar farm research enabling deployments capable of powering 100,000 four‑room flats.

NRF chairman Heng Swee Keat said sustained investment remains crucial as fields like AI and quantum technologies require decades of groundwork. “Science, technology and innovation will have an even bigger impact on the world… We will stay focused on keeping Singapore competitive and resilient while creating real impact here at home,” he said.