jurong innovation district
TRANSCRIPT
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Jurong Innovation District
As part of the Singapore government’s plan to promote greater innovation, a new
industrial park will be built in the western part of the island. Named Jurong Innovation
District (JID), it is targeted to kick off in 2022.
In his Budget speech in March 2016, Finance Minister Heng Swee Keat outlined the
objective of JID as a forward-looking industrial district aimed at developing products and
services for the future. JID will bring together different groups of expertise under one
roof. Businesses, students, researchers and innovators come together, bringing
assorted activities thus creating a very vibrant and flamboyant environment.
Industrial estates of yesteryears were purposefully built to meet the demands of specific
industry. Jurong was transformed from swampland 5 decades ago to help power
Singapore economy during the country’s developing era, providing the infrastructure for
manufacturers. JID however is built for the future; for innovation; for research and for
better living. It aptly signals the progress leap the island is taking, brought about by the
remarkable results the economy has made over the past 50 years.
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Meanwhile, Singapore’s national developer of industrial infrastructure – JTC is putting
together a few initiatives such as Launchpad@JID and Open Innovation Call essentially
to serve as platforms for innovators, students and researchers for development and
design works, prototyping and to test out their new ideas.
To further provide more opportunities and motivations for innovators, JTC is building a
creative industry hub near Singapore Institute of Technology (SIT) to tap the technology
brains from the campus.
The Government’s push for innovation does not stop here. SG-Innovate, a platform to
string together like-minded innovators and entrepreneurs and exposing them to funding
and talent hunt, helping them to reach out to untapped markets will be set up. SG-
Innovate will work intimately with Spring Singapore and the Economic Development
Board (EDB) focusing on technologies such as Internet-of-Things (IoT), fintech, digital
manufacturing and smart energy.
Furthermore, as much as up to $4b from the Research, Innovation and Enterprise 2020
Plan will be channeled to industry-research tie-up.
Heng Swee Keat summed up the Government’s commitment to innovation – “Innovation
is enabled and enhanced by the use of technology but innovation goes beyond that. It is
fundamentally about new ways of doing things to meet the needs of people and
industries. Innovation is the engine of value creation and growth. We must make
innovation pervasive in our society.”
With the above being put in place, it is the government’s intention to grow and establish
the Jurong area as the second CBD, the largest commercial hub outside the city area.
This definitely brings good news to the residents of Jurong as their property is sitting on
gold mine. For those who wish to have a share of this treasure, they can seriously
consider some new condo Singapore launches here:
√ LakeVille
√ Lake Grande – launching in June / July 2016