SPEECH BY MR CHAN SOO SEN, MINISTER OF STATE, MINISTRY OF EDUCATION, AT CITIGROUP’S ‘IDEAS IN ACTION’ FINAL CONVENTION, ON FRIDAY, 24 SEPT 2004 AT 4.00 PM AT NAN HUA SECONDARY SCHOOL, 41 CLEMENTI AVENUE 1

Mr Richard Stanley
Citigroup Country Officer in Singapore

Principals
Teachers and students
Ladies and Gentlemen
 
Good afternoon

Introduction

         I am pleased to be here today at Citigroup’s Final Convention of “Ideas in Action” Programme. This programme is into its third year and I am impressed to see the development of many creative ideas.

2.      This brings to mind a saying, that every time a man puts a new idea across, he finds ten men who thought of it before he did – but they only thought of it. They did not do anything about it. I am glad that each of you here have done something about your idea.

Importance of creative and innovative thinking

3.      Creativity and innovation is the germ of entrepreneurship. The “Ideas in Action” programme is very much in sync with the Education Ministry’s approach to learning. We are well aware that in a knowledge-based economy where things are being re-defined all the time, we must have the agility of mind to anticipate and respond to changes quickly, not just to keep ourselves relevant, but more importantly, also to ride on the waves of new developments and thrive in a dynamic environment.

4.      In today’s economic context, success is no longer dependent on paper qualifications alone. Every student needs the right aptitude and skills to adapt and flourish in a constantly changing workplace. Those who can think up new and original ways of doing things and respond to the unexpected will be better positioned to deal with challenges ahead. Programmes such as “Ideas in Action” where students are encouraged to think creatively outside of the classroom, help to broaden students’ learning horizons.

Participation

5.      I am happy to note that the “Ideas in Action” programme has seen rising participation amongst schools. Launched in 2002 by Citigroup with support from the Ministry of Education and The Learning Society, the number of entries has since more than doubled, from 141 in 2002 to 321 in 2004. And for the first time, we have teacher teams participating this year. It is heartening to see teachers rising to the innovation and enterprise challenge. I am sure that their enthusiasm, coupled with the experience gained from this competition, will help them to promote the spirit of innovation and creativity among their students.

6.      Some great ideas have come out of this year’s programme. We have many creative entries such as having a system that shuts down a car engine if alcohol is detected in the driver’s breath, a computer system that might help to reduce a child’s risk of myopia, and a solar-powered handphone charger. I am happy to note that many innovative entries are the brainchild of primary school students.

Venture Capital Grant

7.      I understand that Citigroup has given about $90,000 to the teams participating in this year’s event. Today, one of these teams will receive an additional $10,000 in the form of a Venture Capital Grant to further develop its project into a marketable venture. I hope this will engender a greater spirit of innovation and entrepreneurship among its team members. But let me emphasise that each and every team here is a winner. You have been selected because your project was outstanding, creative and, above all, because you demonstrated an entrepreneurial spirit so crucial to the success of any venture. Whoever wins the Venture Capital Grant, do put the money to good use and see how it can be utilised for the benefit of others.

Conclusion

8.      I would like to commend Citigroup for its commitment to contributing to the community in Singapore.

9.      I would also like to congratulate all of you for the effort you have taken in coming up with novel and innovative projects. The grant that you had received is an affirmation of your capabilities, and an acknowledgement of the hard work that you have invested in. The experience and knowledge that you have acquired in preparing for the competition will be invaluable as you continue on your journey of life. Keep the spirit of innovation alive, and on that note, I wish you all an enjoyable afternoon. Thank you.