12 Sep 2012, BioSpectrum Bureau , BioSpectrum
Singapore: The Agency for Science, Technology and Research (A*STAR) received ‘Frost and Sullivan's 2012 National Innovation Development Award for Science and Technology' in the Asia Pacific region.
The award recognises A*STAR's outstanding contribution in driving development through innovative strategies that create value for investors in applied sciences and technology. A*STAR was credited with enhancing Singapore's economic growth through nurturing a thriving environment for research and innovation.
The new National Innovation Development Award was created by Frost & Sullivan to honour the best practices adopted by organizations to drive innovation and subsequently, growth and investment in a specific economy. This vision is exemplified in the judging criteria for the award which includes a commitment to an enabling vision and strategic plans; investment promotion strategies; nurturing of an innovation ecosystem and the enablement of growth and sustainability.
Citing the reasons why A*STAR was chosen for the award, Ms Prerna Mohan, team leader, economic research and analytics division, Frost & Sullivan, said that, "A*STAR has taken a three-pronged approach to ensure that the right infrastructure, opportunities and incentives exist for the active promotion of innovation. This entails the establishment of research facilities for world-class research; the development of technological prowess with a focus on growing the economy and catalyzing the development of human capital."
Acknowledging the award, Mr Lim Chuan Poh, chairman, A*STAR, said, "We are honoured to receive this prestigious award from Frost & Sullivan. The award is a testament to A*STAR's contribution in helping to transform Singapore into a knowledge-based innovation-driven economy to catalyse growth and create high value jobs for Singapore. The award is also in recognition of every member of A*STAR, the scientists, the technical staff and the corporate staff who have contributed to Singapore's progress and to our goal of becoming Asia's innovation capital."