1 MedTech Manufacturing Consortium to Help Local Industry ...

3. Commented Dr Lim Ser Yong, Executive Director of SIMTech, “Since ourestablishment in 1993, SIMTech has been working with medical technology andsupporting enterprises in the precision engineering and electronics clusters in productdesign, manufacturing processes, creation of medical technology systems andimproving manufacturing operations. With the support of the relevant governmentagencies and industry associations, we are now able to provide a more holisticassistance to local enterprises in the medical technology sector.”Importance of Medical Technology Industry4. The medical technology industry is a new area of growth for Singapore and providesan excellent opportunity for the local electronics and precision engineering industries todiversify and expand their businesses. As part of Singapore’s burgeoning biomedicalsciences sector, the medical technology industry doubled its manufacturing output fromS$1.5 billion in the year 2000 to about S$3 billion in the year 2008. Over the sameperiod, its manpower base also doubled from about 4,000 to more than 8,200 last year.By the year 2015, the medical technology sector targets to achieve S$5 billion inmanufacturing output (Source: EDB, 2009).About MedTech Manufacturing Consortium5. The MedTech Manufacturing Consortium is supported by the Economic DevelopmentBoard (EDB), International Enterprise Singapore (IE Singapore), Singapore WorkforceDevelopment Agency (WDA) and SPRING Singapore, with the Singapore PrecisionEngineering and Tooling Association (SPETA) and Biomedical Engineering Society(BES) participating as an industry association partner.6. Said Mr Thian Tai Chew, Director of Technology Business Division, IE Singapore,“With the forming of this consortium, we hope to grow the capabilities of moreSingapore-based companies in the medtech segment. Singapore-based companies inthe consortium can leverage on IE Singapore’s overseas activities, such as businessmissions and trade fairs, to increase their exposure to the potential and requirements of2