Speech by Ms Thien Kwee Eng, Director, Lifestyle

FOR EMBARGO UNTIL 27 SEPTEMBER, 1030 HRS
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SPEECH BY THIEN KWEE ENG, DIRECTOR, LIFESTYLE PROGRAMME
OFFICE, SINGAPORE ECONOMIC DEVELOPMENT BOARD, AT THE
MEDIA LAUNCH OF LIVE WELL COLLABORATIVE SINGAPORE
27 SEPTEMBER 2010, 1030 HRS AT INNOVILLAGE, SINGAPORE
POLYTECHNIC
Good morning
Mr. Tan Hang Cheong, Principal, Singapore Polytechnic
Mr. Craig Vogel, Associate Dean of Research and Innovation,
College of Design Architecture Art and Planning, University of
Cincinnati & President, The Live Well Collaborative (Cincinnati)
(“LWC-C”)
Mr. Matthew Doyle, Director & Senior Researcher, Healthcare R&D
– Worldwide, P&G, and Vice-President, LWC-C
Distinguished speakers and partners of the Live Well Collaborative
Singapore and members of the media.
Introduction
1. It gives me great pleasure to join you this morning for the
media launch of Live Well Collaborative in Singapore. I would
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like to congratulate the parties involved, P&G, Singapore
Polytechnic and Live Well Collaborative Cincinnati on the
inauguration of this open innovation platform.
2. This project is the first of its kind in Singapore and would help
to establish Singapore as the Asian Hub for companies
focussed on consumer insights for research and development
of consumers of ages 50 and above.
Singapore as a hub for Pan-Asian Consumer Insights
3. We recognise that Design is exceedingly growing in importance
to companies as a competitive edge to create products and
services that enhances the quality of life of people and also
makes business sense. To come up with a successful product
requires more than the ability to sketch and build things.
Instead, a deep understanding of consumer needs and deriving
consumer insights, coupled with the ability to translate those
insights into a useful product is the key.
4. To address this, EDB plans to build up capabilities to establish
Singapore as a leading base to gather and analyse consumer
insights, as well as to develop products for Asian consumers.
This was the result of a recommendation from the Economic
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Strategies Committee earlier this year, and would enable
companies to anchor consumer-centric innovation activities
out of Singapore.
5. Singapore‘s multi-culturalism and strong connectivity to the
region also offers companies a valuable pan-Asian perspective
as it is close to key markets such as China, Indiaand Southeast
Asia. This has already led to a growing interest from design
consultancies from US, Europe and other parts of Asia to set
up a base in Singapore. For instance, Elmwood, a design
consultancy from UK recently announced plans to open an
office in Singapore as an English-speaking gateway to the
developing markets of East Asia.
We expect to see more of
such companies use Singapore to reach the growing markets in
Asia.
Singapore is well-positioned to support the growth of consumer
centric research in aging demographic
6. Besides, Singapore is the right location for studying aging
Asian consumers as we are experiencing the second fastest
ageing country in Asia after Japan. These aging consumers
represent unprecedented purchasing power for products and
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services that meet their changing physical needs and enhance
their quality of life.
Significance of LWC-Singapore
7. P&G’s initiative to bring the LWC to Singapore, for Asia,
attests to our efforts to facilitate strategic industry
collaborations that will foster consumer-centric design
innovation activities. This supports Singapore’s aspirations to
be a leading consumer business centre in Asia. LWC-Singapore
is particularly meaningful, as it builds design research
capabilities in academic institutions through industry
collaborations to create paradigm-changing new solutions and
concepts.
8. These partnerships between industry and academia are made
Closing
possible through LWC’s unique model to provide mutually
beneficial outcomes for both. The open innovation platform
allows for non-competing companies to have shared access to
insights created by faculty and students, to provide consumer
opportunities with fresh eyes and unbiased perspectives.
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9. When I visited LWC in Cincinnati, I was most impressed with
the variety of marketable solutions generated within it short
period of its establishment. It is exciting that Singapore could
now be the source of Asian-centric innovations and solutions.
10. In closing, let me thank P&G for your confidence in Singapore
through the years and for choosing to partner Singapore in
establishing Live Well Collaborative. We at the EDB look
forward to strengthening this partnership to support you to
better harness the many exciting opportunities ahead,
especially in Asia. I wish you every success.
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