Singapore's National Research Foundation (NRF) said that industry research and development jobs grew by about a third between 2018 and 2023 [1].
The inaugural RIE2025 report card tracks the progress of a five-year research plan designed to encourage the commercialization of research and support the local startup ecosystem.
Business R&D spending rose 64% to reach S$9 billion [2]. The NRF said that Singapore residents filled more than seven in 10 of the new R&D roles created during the measured period [1].
The broader RIE2025 plan involved a total funding commitment of S$28 billion over five years [1]. These investments aimed to strengthen the nation's position as a global hub for innovation and scientific discovery.
Looking toward future goals, the NRF is shifting focus toward the RIE2030 plan. This subsequent initiative carries a total commitment of S$37 billion [1]. As part of this new phase, the NRF will allocate S$300 million specifically for startup projects [1].
Funding for individual projects under this new allocation can reach up to S$3 million [1]. This targeted financial support is intended to bridge the gap between academic research and market-ready products, a key priority for the government's long-term economic strategy.
The RIE2025 report serves as the first formal evaluation of how government-led research funding translates into private sector growth and employment.
“Industry research and development jobs grew by about a third between 2018 and 2023”
The transition from RIE2025 to RIE2030 represents a scaling of Singapore's ambition to convert scientific research into economic value. By increasing total commitment to S$37 billion and earmarking specific funds for startups, the government is attempting to reduce the 'valley of death' where promising lab discoveries fail to reach the commercial market due to lack of early-stage capital.
