SINGAPORE - Procter & Gamble (P&G) and the Agency for Science, Technology and Research (A*STAR) have signed a Master Research Collaboration Agreement for five years of research partnerships with Singapore's institutions.
This will be one of P&G's largest public-sector research collaborations which will see them working with and having access to facilities at over 25 local research, medical and education institutions, according to a statement from A*STAR.
The agreement, which provides the potential for up to $60 million in joint funding, expands on an earlier agreement made in 2010. The new MRCA further includes a component for joint partnership in talent development that offers industry-relevant PhD Programmes and post-doctoral fellowships.
Part of P&G's Connect+Develop programme, the partnership with A*STAR will marry P&G's consumer understanding with A*STAR's knowledge in multi-disciplinary sciences.
This is P&G's approach of tapping on externally developed technologies to accelerate internal innovation and to share company-developed assets and know-how with others. Focusing on both upstream and downstream innovation, collaboration between P&G and A*STAR will enable Singapore research and development expertise to contribute to the P&G innovation pipeline - touching over 4 billion consumers around the world.
"We are delighted by the extension and expansion of our partnership with P&G. Singapore's flourishing R&D eco-system encompasses our hospitals and universities in addition to the A*STAR research institutes. It is therefore important that we harness synergistically the full range of capabilities that are available in the public sector to sustain our competitive value proposition as an innovation hub.
"One example of this is the newly-established Skin Research Institute of Singapore (SRIS) that draws on the expertise of scientists, clinicians and engineers from A*STAR, National Skin Centre and Nanyang Technological University. It demonstrates clearly that meaningful public-public partnerships create platforms that can greatly enhance our public-private partnerships under the Open Innovation Framework." said Mr. Lim Chuan Poh, Chairman of A*STAR.
P&G will soon be opening its Singapore Innovation Centre in the centre of Biopolis.