Official launch of OBR Singapore
Singapore’s biomedical sciences (BMS) initiative began with a bang in 2000 with a S$6 billion government commitment over 5 years earmarked to establish new research centres, attract multi-national companies (MNCs), and to build infrastructure such as the Biopolis. Government spending on R&D has now increased to S$16.1 billion for phase 3 of the BMS initiative from 2011 to 2015, with the aim of “capturing opportunities for greater economic and health impact”.
After a decade of government investment, more than 30 of the world’s leading biomedical sciences companies have set up bases in Singapore, growing the nation’s biopharmaceutical industry by more than 30% in 2011. Many of these major biotech companies have invested heavily and Singapore’s biomedical manufacturing output has quadrupled from S$6 billion to $23.3 billion in the last 10 years, now forming 5% of the nation’s GDP. Government support in training local scientific talent and providing essential seed and gap funding contribute to creating an optimal environment to fuel growth of our fledgling biotech ecosystem.
However, impressive as these numbers may be, do they mean we have a thriving biotech industry?
OBR Singapore’s launch event brings together industry leaders, academics, entrepreneurs, venture capitalists, and policy makers in a panel discussion of key questions such as:
- For how long should we rely on a government-led approach?
- Is it time to let natural market forces shape Singapore’s biotech industry?
- Have we become overly reliant on generous government funding and how can we transition towards self-sufficiency?
We aim to connect industry professionals with young scientists (students, postdocs, faculty members) who are the future biotech entrepreneurs, and promote commercial awareness of academic innovators. Join us as we discuss the challenges and opportunities facing Singapore’s biotechnology ecosystem, and how we can determine the future of our industry.
6:30 – 7:00 PM Registration
7:00 – 7:10 PM OBR & Speaker Introduction
7:10 – 8:30 PM Panel Discussion and Q&A
8:30 – 9:30 PM Networking Reception
Prof Low Teck Seng
CEO, National Research Foundation Singapore
Dr Steven Fang
Partner, Clearbridge Accelerator
Dr Rosemary Tan
CEO, Veredus Laboratories