Budget 2022 debate: Sylvia Lim on Singapore’s capacity to innovate
Singapore has fared relatively well on health outcomes during COVID-19, but it may be time to do a “stock take” of its efforts to come up with solutions to tackle the pandemic, said MP Sylvia Lim in Parliament on Tuesday (Mar 1). Citing the Global Innovation Index 2021 published by the World Intellectual Property Office, she noted that South Korea rose to fifth position, overtaking Singapore in eighth. The report found that South Korea had been particularly active in commercialising and patenting inventions in health-related technologies amid COVID-19. Ms Lim said Singapore should strive to move up the value chain to be owners of such intellectual property and that as a high-income country, it can do more to improve the quality of life for humankind. She suggested some “introspection” on whether more efforts are needed to nurture creativity and risk-taking, and if there are “inhibitors” that need to be addressed.
Singapore has fared relatively well on health outcomes during COVID-19, but it may be time to do a “stock take” of its efforts to come up with solutions to tackle the pandemic, said MP Sylvia Lim in Parliament on Tuesday (Mar 1). Citing the Global Innovation Index 2021 published by the World Intellectual Property Office, she noted that South Korea rose to fifth position, overtaking Singapore in eighth. The report found that South Korea had been particularly active in commercialising and patenting inventions in health-related technologies amid COVID-19. Ms Lim said Singapore should strive to move up the value chain to be owners of such intellectual property and that as a high-income country, it can do more to improve the quality of life for humankind. She suggested some “introspection” on whether more efforts are needed to nurture creativity and risk-taking, and if there are “inhibitors” that need to be addressed.
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