Region/Countries: Asia, Singapore Industry: Biosciences / Medical Devices Date: April 2016

Why this is important to Wisconsin businesses: Wisconsin's well-developed bioscience cluster can help Singapore advance.

Singapore has built world-class infrastructure for bioscience research and development (R&D) and manufacturing, and has attracted and developed skilled talent for basic as well as translational research. Over the last 15 years, the sector has managed to attract R&D partnerships from major global players in the pharmaceutical and medical device segments. Today, the bioscience sector accounts for $1.1 billion in R&D expenditure and $225 billion in manufacturing output.

Despite being known for its strength in the sector, Singapore still faces certain challenges, such as a lag in product commercialization with few blockbuster drugs coming through the pipeline, a weak base of small and midsize bioscience firms, gaps in the complex skill sets required to deliver health care products and services to the market, and a small pool of investors.

Wisconsin, conversely, has a strong culture of innovation in bioscience, talented scientists with demonstrated experience in commercializing groundbreaking university research, and a strong reputation as a research partner. Wisconsin’s bioscience cluster can thus make a significant impact in Singapore.

Opportunities for Wisconsin companies lie in bioscience R&D; application of statistics, programming and big data analytics to the bioscience sector; innovative technology to test therapies and devices; expertise in bioscience incubators and accelerators; and skill development, among other areas.

Wisconsin can also take advantage of Singapore's small size and integrated health system, which make it a good test hub for new health technologies and innovations in the continuum of health care. Via Singapore, Wisconsin companies can tap opportunities in emerging Asian markets, which are expanding their populations' access to health care, resulting in soaring demand and expenditures on medical devices, diagnostics and therapeutics.