Singapore-Israel invests $2.3M for R&D projects
Singapore and Israel are stepping up efforts and forking out US$2.3 million to kickstart four new research and development (R&D) projects between high-tech companies in both countries.
In a statement Tuesday, the Singapore-Israel Industrial R&D Foundation (SIIRD) said the projects were selected to "solve existing real-world problems with innovative breakthroughs" by tapping relevant expertise from both countries. The SIIRD was jointly set by Singapore's Economic Development Board and Israel's Office of the Chief Scientist to promote and facilitate industrial R&D initiatives between organizations from the two nations.
One of the four projects is a "scents" chip, built on microelectromechanical systems (Mems), which will enable devices such as handsets, home theater systems and mobile game systems to emit scents, providing an "immersive 4D entertainment experience" for gamers and other users.
The other projects include a chipset for portable computers to boost Wi-Fi networking speed, a newly developed business intelligence software that derives information by analyzing signaling information of telecom networks, as well as a skin cream to reduce skin inflammations and ulcerations from radiation therapy.
Some 60 research scientists and engineers from Singapore and Israel will be involved in the projects, which are estimated to generate revenues of US$205 million in the first three years of commercialization.
SIIRD also announced plans to increase its funding ceiling from the current US$750, 000 to US$1 million for the next round of project approvals in December. The funding will also be extended to non-commercial research projects.
According to its Web site, the next deadline for project proposal submissions is Sep. 9, 2011.