Budget 2026 debate: Kenneth Tiong on money, speed and market for R&D ecosystem
The popular Hong Mei Ren (Red Beauty Mandarin) was once called Ehime, developed in Japan. But due to a lack of intellectual property protection, it was lost - as some scion cuttings made their way to China to be widely cultivated there. MP Kenneth Tiong highlighted this agricultural loss for Japan in parliament on Thursday (Feb 26), saying it reminded him of Singapore’s R&D ecosystem, which has "not produced impressive commercial outcomes". The Budget's commitment to S$37 billion under the Research, Innovation and Enterprise 2030 plan and the expansion of Startup SG Equity are steps in the right direction, he said. But there must be an honest reckoning with limited commercial outcomes and value leakage that the ecosystem needs three things - money, speed and a market. Unless there are preparatory measures and efforts to design for the upside, “one day you will find your R&D being sold as a Hong Mei Ren Mandarin - incubated in Singapore, harvested in Zhejiang and Hong Kong”, he said.
The popular Hong Mei Ren (Red Beauty Mandarin) was once called Ehime, developed in Japan. But due to a lack of intellectual property protection, it was lost - as some scion cuttings made their way to China to be widely cultivated there. MP Kenneth Tiong highlighted this agricultural loss for Japan in parliament on Thursday (Feb 26), saying it reminded him of Singapore’s R&D ecosystem, which has "not produced impressive commercial outcomes". The Budget's commitment to S$37 billion under the Research, Innovation and Enterprise 2030 plan and the expansion of Startup SG Equity are steps in the right direction, he said. But there must be an honest reckoning with limited commercial outcomes and value leakage that the ecosystem needs three things - money, speed and a market. Unless there are preparatory measures and efforts to design for the upside, “one day you will find your R&D being sold as a Hong Mei Ren Mandarin - incubated in Singapore, harvested in Zhejiang and Hong Kong”, he said.
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