Where the real returns on Singapore’s deep-tech investments lie

EVERY few years, Singapore asks a familiar question: Are we getting enough return from our investments in research and innovation?

It is a fair question. Taxpayers deserve to know whether decades of funding into science, startups and emerging technologies are creating lasting economic value.

Much of the debate focuses on visible outcomes – initial public offerings, unicorns, fundraising rounds and exits. These are important milestones, but they are also the final chapter of a much longer story.