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Singapore Government to invest $150 million in space-tech R&D
Singapore Government to invest $150 million in space-tech R&D
Singapore will be investing $150 million in research and development (R&D) of space capabilities applicable to key industrial sectors for Singapore and daily life, according to Minister for Trade and Industry Gan Kim Yong at the 14th Global Space and Technology Convention earlier this month (Reports: ST, CNA, 8World and TODAY).
The Space Technology Development Programme, started by the Office for Space Technology and Industry and the National Research Foundation, will fund researchers in Singapore. This investment aims to encourage local space innovation for nationally important sectors, such as aviation and maritime, and everyday applications such as global positioning systems (GPS) that are crucial to ride-hailing services and parcel delivery tracking.
Minister Gan also said that Singapore would focus on building international partnerships and continuing to nurture local space-tech firms as part of its space strategy. Singapore Space & Technology Ltd (SSTL), a non-government organisation that runs a space accelerator programme with Enterprise Singapore, signed a memorandum of understanding in February to form a trade corridor with the United Kingdom.
SSTL is also tying up with SLA to develop more precise satellite positioning and earth observation for real world problems. “A lot of times, working from home, we do a lot of Grab or with other companies as well. No ambiguity about which gate to pick you up from because it is so precise. You save a lot of time, it is cost efficiency and better fleet management,” said SLA CE Colin Low.
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