Singapore is a recognised innovation hub, with an innovation ecosystem that ranks fifth globally and second in Southeast Asia1. Supportive policies, strong research and industry partnerships and world-class talent – with Singapore topping the Global Talent Competitiveness Index – have underpinned the creation of breakthrough products. These range from Dyson’s PencilVacTM to EssilorLuxottica’s spectacle lenses, which slow myopia progression in children. In the past five years, companies have committed more than S$14 billion to research and innovation investments here2.
Singapore: A global innovation hub
Under Singapore’s Research, Innovation and Enterprise (RIE2030) plan, the government is committing S$37 billion over the next five years to strengthen Singapore’s competitiveness and resilience in national strategic priorities such as healthy longevity research, and four key domains of human health and potential; manufacturing, trade and connectivity; urban solutions and sustainability; and smart nation and the digital economy.
Singapore also brings together companies, research institutions and academia to co-develop cutting-edge technologies, with leading pharma companies like GSK, Sanofi and Takeda partnering with Singapore’s public research institute A*STAR and universities to advance biologics and vaccine innovation. Local universities here are among the world’s top institutions, with NUS and NTU in 8th and 12th place respectively in QS 2026.
Firms here are adopting diverse innovation models, from corporate venture building and co-innovation labs to incubators and accelerators, and tapping into more than 4,500 tech startups3 in Singapore, the top startup hub in Asia4.
Reinventing next-generation manufacturing: Hyundai
Hyundai Motor Group established the Hyundai Motor Group Innovation Center Singapore (HMGICS) in 2023, the company’s first global hub and testbed for future mobility solutions, pioneering AI- and robotics-driven manufacturing to realise a Software-Defined Factory.