Innovation and entrepreneurship are the micro-fundamentals of sustained growth in incomes and living standards. Absent innovation and productivity growth, economic growth would depend on increases in factor inputs, which would generate more economic activity but not yield higher incomes.
Entrepreneurship – the creation of new businesses, new products, new processes – is the organizational outcome of innovation. New businesses, potentially being nimble and flexible, can more quickly adopt new methods of organization and production and provide new value in the form of goods and services.
Having attained a high standard of living, Singapore’s future economic growth will depend on innovation and entrepreneurship. Singapore can no longer be a low-cost production base for multinational companies, and must increase the relative contribution of factor productivity over factor inputs for sustained economic growth.
The study of innovation and entrepreneurship within the context of institutions and actors in Singapore and Asia will provide useful insights on management, organization and economy-wide options and outcomes.
The research will be carries out by multi-disciplinary teams, using empirical, theoretical, and legal methods.
The NUS Research Program on Innovation Strategy and Entrepreneurship (RISE) aims to build a large-scale research program focusing on the management of and policy towards innovation and entrepreneurship.
In three years, the objective of RISE is to build capability and increase collaboration among the faculty participants and with external institutions, with the view to preparing a Tier-2 grant proposal in the next three to five years.
In the medium to long-term, we envisage to yield the following deliverables
- Scholarly output in books, journals, conferences;
- Regular academic seminar with presentations by well-reputed guest speakers as well as program members;
- New mini-courses focusing on innovation and entrepreneurship at the BBA and MBA levels and the eventual introduction of a specialization in one or both levels;
- Enhancing research and teaching in entrepreneurship throughout the NUS;
- Business impact through incubation, consultation, and advice;
- Policy contribution
- Internationalization of innovation activities by global MNCs
- Impact of search processes on innovation
- Music copyrights
- University technology transfer programs
- Trademarks and economic growth
- Venture investors and start-ups