Funding of up to $1m for any project with cutting-edge innovations
JTC Corporation is looking for ‘cutting-edge’ ideas from the private and public sectors and academic institutions on how to intensify land use and create new industrial space.Ins
And it will provide funding of up to $1 million for each project proposal. The industrial landlord has decided to open up its innovation ‘dream fund’ – created to fund innovative projects internally – to external partners too.
‘Innovation is a high priority for JTC and we recognise that we can increase our capacity for innovation if we pro-actively reach out to external partners,’ said JTC chief executive Manohar Khiatani. ‘With this initiative, we hope to seek new inspiration to complement our own ideas and boost industry research in optimising, intensifying and creating new industrial space for the advancement of the economy.’
The maximum funding amount for each project proposal is capped at $1 million, and the duration at one year. Projects should not have started before the funding is approved.
Also, foreign organisations will have to partner a local organisation or have a local arm to participate. Applicants will know if their proposals have been successful by the third quarter of this year.
The overall theme for the inaugural proposal exercise is on the intensification of industrial land use – in line with what was recommended by the Economic Strategies Committee in early February.
The committee’s report said that Singapore has to support the intensification of industrial land use as there are now greater demands on the country’s limited land resources.
The focus for the proposal will be on three main areas: clustering relevant industries for increased synergy; reducing land use for infrastructure, transport networks, buffer zones and other facilities; and mitigating issues relating to high-rise industrial operations such as goods handling, vibration and urban heat.
JTC’s ‘dream fund’ was set up in 2004 to grow new capabilities to sustain Singapore’s competitive industrial edge.
Its innovative projects include Fusionopolis, Biopolis, Seletar Aerospace Park and the recently launched CleanTech Park. Besides these parks, JTC is pursuing other ideas such as new mega-hoist systems and a ’small-footprint high plot ratio’ for standard factories, which could cut costs and save space for businesses.
‘As an infrastructural solutions provider in Singapore, JTC places priority on developing innovative and sustainable infrastructure solutions to meet the evolving needs of businesses,’ JTC said in a statement.
Source: Business Times, 18 Mar 2010