Updated on 29 October 2012
Mr Simranjit Singh, chairman, BioSingapore
Biomedical association of Singapore, BioSingapore, recently appointed Mr Simranjit Singh, director, strategic planning Asia, Quintiles, as its new chairman. In an interview with BioSpectrum Asia, Mr Singh talks about his role as the head of the association and plans for the future.
Among various things, the association plans to put together a directory of profiles of Singapore companies and their technologies highlighting opportunities for international collaboration and partnerships to enhance the reputation and brand equity of its biomedical sciences companies in the region. In his new role, Mr Singh says he will encourage greater interactions among various stakeholders and build BioSingapore as a catalyst for further growth and maturity of the industry. Excerpts from the interview:
In your new role as the chairman, what are the initiatives you are going to take for BioSingapore?
BioSingapore has refocused its strategy to three broad areas. Firstly, to develop a talent and financing framework by working collaboratively with the academia and the research institutions to develop entrepreneurship courses for researchers to encourage them to focus on R&D that can translate into useful commercial applications. In order to create awareness on available financing options, BioSingapore is intending to set up an investor panel comprising government entities such as SPRING, A*STAR and the Economic Development Board (EDB), venture capitalists, incubators or accelerators and angels (investors) to provide mentorship, investment guidance and possibly investments in local companies.
BioSingapore will also assist in nurturing and encouraging new start-ups in biomedical sciences industry by amplifying and aggregating existing programs by various government entities and business federations. This includes programs such as the GET-Up Scheme that encourages scientific researchers to be part of a start-up environment and the Action Community for Entrepreneurship (ACE), a mentoring program to guide and provide grants for new start-ups. BioSingapore will also look at driving more regional collaborations for market expansion and co-development opportunities for local start-ups and biomedical sciences companies in the region. A directory of profiles of Singaporean companies and their technologies will be put together highlighting opportunities for international collaboration and partnerships. This will enhance the reputation and brand equity of Singaporean Biomedical Sciences companies in the region.
Will there be any major changes in the structure, focus or overall plans of the association?
The major change will be in increased attention on growing the pool of Singaporean biomedical start-ups. This will be done by reaching out to more local researchers, scientists, academia and entrepreneurial graduates. Also, BioSingapore will focus on increasing the engagement and participation of successful local companies to act as mentors to share their road to success.