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JTC, the national developer of industrial infrastructure, is currently constructing Launchpad@JID, to serve as a space for entrepreneurs, researchers and students to design, prototype, and test-bed their new innovations.
JTC has also launched an Open Innovation Call to invite private sector technology owners to test-bed and develop innovative and sustainable infrastructure solutions within the district.
There are already other new types of industrial parks being built in other parts of Singapore,
JTC, for instance, is also building a creative industry cluster across the road from Singapore Institute of Technology (SIT) which will move to Punggol.
SIT, Singapore's fifth autonomous university, was set up in May 2009 to offer more degree opportunities to polytechnic graduates. It now operates from an interim campus at Dover with satellite branches in each of the five polytechnics.
Besides the new innovation district, the Government will also try to encourage innovation by promoting start-ups in new and existing industries.
To achieve this, a new entity called SG-lnnovate will be set up, Mr Heng announced.
SG-lnnovate will match budding entrepreneurs with mentors, introduce them to venture capital firms, help them to access talent in research institutes, and open up new markets.
It will build on what has been done by the lnfocomm Investments Private Limited (llPL), and work with Spring and EDB to expand the accelerator programmes to new and emerging sectors such as smart energy, digital manufacturing, fintech, digital health and Internet-of-Things.
In addition, up to $4 billion from the Research, Innovation and Enterprise 2020 Plan will be directed to industry-research collaboration.
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