Gov't pledges $37b for RIE2030 to advance innovation, economic growth

It will start its billion-dollar investment in April 2026.

Singapore is investing $37b — equal to 1% of its total GDP— in research, innovation and enterprise over the next five years.

The Research, Innovation, and Enterprise 2030 (RIE 2030) plan aims to nurture and attract science and technology talents to the city, Senior Minister Lee Hsien Loong told attendees of the 15th RIE council (RIEC) meeting held on 5 December 2025.

The five-year masterplan aims to nurture local talents in various fields, such as research, engineering, data science, entrepreneurship, and programme management. Singapore also seeks to attract top international REI talents.

Funding schemes will be established to hone and entice young researchers and entrepreneurs. Benefits include a NRF postdoctoral award that provides salary and support for research, international postgraduate scholarships for international exposure, and new programmes for trained researchers to acquire entrepreneurial experience in deep tech start-ups internationally.

They will also launch two RIE Flagships and two Grand Challenges, which will foster the city-state’s economic outcomes and strategic priorities in key areas. The first flagship and grand challenge will be established by next year.

The first RIE Flagship focuses on developing the country’s R&D related to the semiconductor industry.

The first Grand Challenge will tackle the country’s swift transition to a “super-aged society” through research related to the aging population. It will garner research insights to create new approaches on maintaining brain health and physical function, and hamper onset and progress of cognitive and functional decline.

The NRF also plans to form the Singapore-Horizon Europe Complementary Fund to extend its collaboration with Horizon Europe as part of the efforts. The fund will allocate financial resources to eligible Singapore-based researchers participating in the programme’s activities who have received awards in priority areas of Singapore.

The research foundation also plans to establish National Contact Points. This aims to encourage local researchers to partake in the Horizon Europe grant calls and offer guidance and assistance.

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