Summary:

Innovation plays a crucial role in pursuing long-term economic prosperity. Within the Asian context, Singapore and Hong Kong have experienced parallel economic achievements, yet they exhibit varying levels of innovation performance. Notably, Singapore excels in nurturing R&D talent and attaining higher patent quality.

Highlights:

• In 2012, approximately 100 individuals were engaged in R&D per 10,000 people in Singapore. Over the years, this number has steadily grown, reaching 114 in 2020, with a total R&D personnel (FTE) exceeding 46,000 individuals. In contrast, Hong Kong’s R&D workforce, although showing an upward trend, has remained significantly lower than that of Singapore. This disparity underscores Singapore’s relative strength in nurturing and attracting R&D talents.
• Singapore has experienced exponential growth in revenue generated from transfers and licensing patent ownership. The widening gap, which has expanded from approximately 2.3 billion USD to nearly 8 billion USD, serves as further evidence of Singapore’s ability to produce high quality inventions with a broad international impact.

Article By ZHANG, Xuyao

Graphic By GE, Yixuan