Makings of our Ideas Nation

Now is the time to inspire people to pursue rainbows and rally around ideas – big and small.

We're living in exciting times. This year's World Economic Forum discussed how we have entered a fourth industrial revolution, which amalgamation of forces will change the way we live, work, and play. Experts opine that this is driven largely by technology and information. Yet McKinsey projects a shortage of more than 200,000 information workers in the next five years worldwide.

Singapore too shares a similar concern with a 30,000 gap in the information communications and technology (ICT) sector workers next year. Are we being outpaced by the rapid changes that are taking place?

While it might be tempting to address this talent gap by simply nurturing more ICT workers, the reality is that we might be addressing only a symptom, and not the crux of our challenge in Singapore. We are a little red dot whose greatest resource are our people. And it isn't simply the technical know-how, than it is the power of ideas and brave hearts that will keep Singapore well resourced to face these revolutions in the world.

Singapore's most valuable resource: our people
Today, Singapore is regarded as one of the world's innovation capitals. The challenge with being in that pole-position is the dearth of reference points as we chart our own course. Singapore needs to retain our sense of nimbleness that had fueled its stunning transformation over the past 50 years.

Singapore's labor minister, Chan Chun Sing, spoke about the need for such a nimble mind-set extensively in Parliament during the recent Committee of Supply debates, as the country transitions into a high-value, ideas-led economy.

This year's Singapore Budget also saw the introduction of a $25 million initiative, "Our Singapore Fund". According to Mr Heng Swee Keat, Singapore's finance minister, the fund will "support projects that build the spirit of caring and resilience, nurture our can-do spirit, and promote unity and our sense of being Singaporean".

Mr Heng said: "It is 'Our Singapore Fund' because it is about how we all can come together in partnership to share our strengths, share our loves, create something more and better together, to build our Singapore together".

This is a meaningful initiative because, while Singapore enters a phase of prudence, both government and business leaders should also work in concert to raise the sights of our people and workforce, and pursue their ideas. And while ideas must differ, as would personal visions, leaders should inspire our people to "follow that rainbow" – in the spirit of our founding prime minister, Lee Kuan Yew.

Ideas drive intelligent outcomes
Ideas do pay off.

As an industry, we've harnessed the power of ideas to drive intelligent outcomes: the Singapore Girl, SG50's 'Pioneering Spirit', Health Promotion Board's 'I Quit'. We have created movements that made a measurable difference to causes and show how ideas, big and small, can pay off. 

Let me cite you another story on the power of ideas. Corporate advisory firm Pottinger needed to meaningfully connect with prospective clients about their consultancy services and its ability to solve complex business issues. Pottinger had to engage business leaders; and captains of industry have always been a competitive group.

With this insight, we came up with the idea of "Problems get harder as you get older". We tapped on that inner consciousness of presenting "simple" math problems to these business leaders, which on closer inspection, turned out to be financially skewed problems that these businessmen had to solve daily.

The idea was simple. But the twist to the campaign sprung off a simple human truth and was something that resonated strongly with many of these business leaders.

In the same spirit, I believe that if our most valuable assets are our people, then Singapore's continued success over the next 50 years must be the power of ideas – big and small – and the democracy of deeds that stem from our Singapore core.