Clause 5

encouraging the development in Singapore of innovative products, processes and services;

increasing investment by the public and private sectors in Singapore in research and development activities that will make Singapore more internationally competitive;

promoting the technological advancement of the public and private sectors in Singapore through a focus on innovation; and

creating an environment that is conducive to increase commercialisation of new processes and product technologies.

to provide financial assistance (including loans and scholarships) to any public authority, enterprise, educational institution or other person (whether in Singapore or elsewhere) undertaking or facilitating research and development activities;

to promote or assist (financially or otherwise) any enterprise engaged in the exploitation of research and development activities undertaken by any public authority, enterprise, educational institution or other person (whether in Singapore or elsewhere), where such an enterprise, in the opinion of the Board, is profitable and efficient or capable of becoming profitable and efficient and has reasonable prospects for profitability, development, expansion, growth or providing viable employment;

the payment of remuneration or allowances payable to persons (other than public officers) engaged to advise the Board or Council in the performance of their respective functions under this Act;

the payment of other expenses incurred by the Board or Council in the performance of their respective functions under this Act, including any remuneration or allowances payable to the members of the Board or Council who are not public officers;

the payment of expenses referred to in section 6.

any investment authorised under section 7 of the Financial Procedure Act (Cap. 109); and

such other investments as the Board thinks fit, not being any stock, bond, fund or security issued by the Government.