SINGAPORE: The Chairman of the National Research Foundation (NRF), Dr Tony Tan, said the Foundation would promote innovation and enterprise in Singapore.

This will be done through comprehensive programmes and initiatives aimed at tertiary institutions, designed to inculcate an entrepreneurial spirit in youths.

Speaking at the end of his four-day visit to top Israeli universities – the Israel Institute of Technology in Haifa and the Hebrew University of Jerusalem – Dr Tan said Israel and Singapore are both small, highly-competitive countries that depend solely on human resources for economic development.

Israel has successfully developed a platform to encourage high-tech start-up companies.

On Singapore's future, Dr Tan said, "We need to build up sufficient numbers of high-growth companies leveraging on technology and knowledge that will provide an additional engine of growth... (and) we must now move the value chain into the next phase of strengthening innovation and enterprise."

This will be discussed further at the Third Research Innovation and Enterprise Council meeting in March, which will be chaired by Prime Minister Lee Hsien Loong.

Dr Tan was accompanied by senior officials from the NRF, the education, trade & industry and finance ministries, and institutes of higher learning during his visit to Israel from 7 to 10 January.


- CNA/so