Got a 'green' idea? Here's the money

By Sharmilpal Kaur

PEOPLE and groups with good green ideas can draw on a new fund that will pay out $20 million over five years to kickstart their projects.

Called the Innovation for Environment Sustainability Fund, it is the first such fund to be set up by the Environment Ministry (ENV).

Acting Environment Minister Lim Swee Say revealed this yesterday at a ceremony for the ministry's first ENoVation awards, which aims to spur innovation within the ENV.

He explained to reporters that the fund is part of the ministry's drive to make sure Singapore can sustain its environment over the long run.

One way to do this, is to 'speed up the pace of innovation' in eco-friendly technology here.

He said: 'From time to time, we receive very interesting proposals from the '3P' sector - the people, public and private sectors.

'They come to ENV and say, 'Look, can we find a way to try out these promising solutions?' Many times we've said 'Yes, we would like to do it, but where do we find the money?' '

He said his officials then had to source for funds.

One such proposal is Singapore's move towards natural-gas vehicles.

He said the ENV had to find funds to fuel the project, which will put natural-gas buses and taxis on the roads here by the end of the year as part of a pilot project.

He said: 'To ensure funding will not become a bottleneck, slowing the pace of innovation, we thought, 'Why not set aside some budget as a ministry, so funding will no longer be a constraint?' '

The fund will cover ideas related to all aspects of the environment.

Mr Lim said: 'When we think about environmental sustainability, we think about water, air, solid waste, communicable diseases.

'So anytime the public or industry comes across new ideas and technology - whether these are tested or untested - they think are relevant to Singapore, we are prepared to work with them.'

He added that he hoped the $20 million would be 'just the starting point'.

If the money can be put to good use, then 'we can even think about increasing the size of the fund'.

The ideas will have to be developed here. However, new technology developed overseas but which can be used here will be considered, like natural-gas vehicles.