Procter & Gamble (P&G) and Singapore's Agency for Science, Technology and Research (A*STAR) have entered into a Master Research Collaboration Agreement (MRCA) whose innovations could benefit over four billion consumers worldwide.
The agreement announced recently in Singapore's e-government portal said it both extends and expands an earlier 2010 MRCA between the two organisations.
The agreement will involve research partnerships with Singapore's network of over 25 research institutions, medical institutions, and the academe.
The agreement will also provide up to S$60 million in potential joint funding for the various R&D projects, according to the announcement.
The research partnership will focus on both upstream and downstream innovations, enabling "Singapore research and development expertise to contribute to the P&G innovation pipeline," said the announcement.
Such innovations will be made available to consumers worldwide as they will bring about the creation of new Procter and Gamble brands to be marketed everywhere in the world where P & G has a presence.
Cooperation will cover a broader reach than the earlier agreement, giving P&G access to research services and facilities in Singapore's research hubs, Biopolis and Fusionpolis.
The new MRCA also provides for joint partnership in talent development, including industry-relevant PhD programmes and post-doctoral fellowships.
The announcement described the agreement as one that "will marry P&G's deep consumer understanding with A*STAR's state-of-the-art knowledge in multi-disciplinary sciences".
Sign up for CIO Asia eNewsletters.