Singapore:  The Agency for Science, Technology and Research (A*STAR) received the inaugural ‘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 organisations 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, Mr Sath Rao, Frost & Sullivan VP, Emerging Market Innovation and Economic Development Innovation said, “While research and development (R&D) has been increasingly occupying center stage as a key factor for sustainable long-term economic growth, translating R&D investments into palpable competitive advantages for the economy is a continuous challenge for economic development agencies. A*STAR has taken a three-pronged approach to ensure that the right infrastructure, opportunities and incentives exist for the active promotion of innovation: the establishment of research facilities that allow world-class research; the development of the nation’s technological prowess with focus on growing Singapore’s economy, catalyzing new growth areas; and 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.”

This is A*STAR’s second award from Frost & Sullivan. In 2009, the agency received the Frost & Sullivan Asia Pacific Aerospace and Defense Award for ‘Aerospace R&D Institution’.