Research and entrepreneurship can be bedfellows

WITH the knowledge-based economy depending on research, innovation and enterprise to thrive, many universities around the world have become increasingly involved in a third mission: Engaging in entrepreneurship activities.

In the past decade, a growing number of academics have been actively involved in this third mission, even as their traditional missions, research and teaching, remain important for their KPIs (key performance indicators).

In Singapore, like elsewhere, the third mission has yielded tangible dividends, with university scientists developing innovative products that not only have commercial potential but also benefit the community, such as technology that can 3D-print a bathroom unit within a day, or an imaging probe that allows for earlier detection of acute kidney failure.