20 Feb 2019 Israel: The Perfect Country for Singapore Companies to Conduct R&D In
For businesses to thrive, expand, and succeed, it should continuously innovate and spend serious efforts in its research and development. As business productivity rises, not only the company benefits but the economy of the country also grows.
The government of Singapore fully recognizes the value of innovation as it allocates a sizeable amount of the budget for this purpose. Singapore-based companies are provided grants and incentives to aggressively pursue their research and development efforts including building R& D partnerships.
Research and development partnerships offer numerous benefits. It gives the entity access to resources and know-how that would not have been available otherwise. It also helps expedite the creation phase, thereby, making the new products or systems available to the market much faster. R&D collaboration also gives parties a competitive edge and access to new markets, among others.
Given the many benefits of research and development partnerships and the incentives given by the Singapore government to companies keen on collaborating with other firms across the world, the only thing that Singapore companies need to focus on is finding the perfect country to conduct R&D in. Which country would be more suitable than Israel – one of the leading countries in the world for research and development?
Why Choose Israel for R&D?
Israel is a young and small nation with very few natural resources. Early Israelis have faced numerous adversities and hardships which helped in producing a nation of thinkers, problem solvers, and innovators. Thanks to this innovative spirit and commitment to finding solutions to make their lives better, Israel is now one of the most robust and technologically advanced economies in the world.
For Singapore companies searching for the best country to carry out research and development, here are the top reasons why they should consider choosing Israel for R&D partnership.
Commitment to R&D
Israel’s commitment to research and development is unquestioned. In 2018 alone, the country spent 4.2 percent of its Gross Domestic Product (GDP) on research and development — the second highest spending on R&D in the world by percentage.
Israel’s higher education system is also invested in training scientists and engineers. The government is also implementing different mechanisms to ensure the transfer of knowledge and to encourage partnerships between academic researchers and other members of the economy. The goal of universities is not only to produce graduates but for students to produce quality academic research and intellectual property.
Israel’s strong commitment to R&D is reflected on the remarkable growth of its high-tech sector, the number of its foreign-funded investments, and the achievements and accolades it has received, including the following:
- One of the top 10 countries in the 2018 Bloomberg Innovation Index outperforming the United States
- Ranked first in the world in terms of number of researchers per million population
- Ranked first in the world in terms of number of engineers per capita
- Ranked third in the world in terms of the quality of scientific research institutes
- Ranked third in the world in terms of corporate spending on research and development
- One of the highest in the world in terms of per capita rates of filed patents
Dynamic R&D Industry
Israel houses more than 320 R&D Centres, most of which are operated by the world’s leading players in the high-tech industry such as Google, Apple, Intel, Microsoft, HP, and eBay. As of 2018, multinational companies do about 50% of Israel’s civilian R&D, dealing largely with the most cutting-age technologies, according to The Times of Israel.
Considering the importance given to research and development by multinational companies in Israel, the productivity rates of these businesses are much higher even when compared to other developed countries like Germany, France, and England. Given this trend, Singapore companies can be assured of the same positive results if they partner with Israeli companies for their R&D activities.
Access to Incentives and Benefits
The government of Israel offers incentives, benefits, and even funding to encourage collaboration on research and development projects with other countries. Singapore companies keen on collaborating with Israeli companies on R&D can access grants, enjoy certain privileges, and be assured of the overall support of the Israeli government.
Producer of World’s Top Innovations
Ultimately, the reputation of Israel in the field of research and development can be clearly seen in their contributions to the world. Here are some of the inventions and developments that the world owes to Israel:
- USB Flash Drive
- Wide Format Printing Ink
- Waze – A GPS-based social network mobile app used for navigation
- Iron dome – a mobile all-weather air defense system
- Unmanned aerial vehicle
- PillCam – pioneering solution that features a small camera inside a capsule for an endoscopy procedure
- Portable operation room
- Solar water heating – the use of solar power to heat water
- Water desalination
- Mobileye – vision technology for autonomous driving
- Computerized irrigation system
Given the reasons mentioned above, coupled with Israel’s innovative culture as well as a stable and dynamic economy, it is evident that this country is ideal in carrying out various research and development efforts. Singapore-based companies from various fields and industries can benefit greatly if they partner with Israeli companies in their innovation and R&D efforts.