Chart of the Week September 9, 2022: R&D Innovation in Singapore

Summary:

The patent application data from PATSTAT over the period 2010 to 2019 reveal that high-tech patent applications have exponentially risen in Singapore, suggesting forward-looking innovation in Singapore’s R&D. In contrast, patents applications in other tech levels remain largely stable. The increase in high-tech patent applications was further propelled by government initiatives to strengthen innovation from technology startups, such as Startup SG and Smart Nation.

Highlights:

  • In 2018, the Smart Nation initiative announced that Singapore would invest in artificial intelligence (AI), a part of high technology.
  • Startup SG Network, part of the initiative Startup SG, was launched in 2018; focused on supporting and encouraging innovation and collaboration.
  • In the Budget 2018 Statement, several measures were introduced to boost innovation, such as raising tax deductions for IP registration fees and qualifying R&D expenses.

Data sources: Imputed patent application data from PATSTAT (by Yixuan GE) and NACE Rev. 2 industry classifications.

Article By TAN Shih Yun, Faith

Graphic By Yixuan GE

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