Budget 2016: National Research Fund to get S$1.5b top-up

TO support the Research, Innovation and Enterprise (RIE) 2020 effort, the government will provide a top-up of S$1.5 billion to the National Research Fund this year, said Finance Minister Heng Swee Keat in Parliament on Thursday.

Of the commitment announced for the RIE 2020 plan, up to S$4 billion will be directed to industry-research collaboration.

"This represents a concerted shift towards innovation and enterprise, to capture the economic and social value of R&D," said Mr Heng.