Is Singapore the Next Center for Legal Innovation?

legal innovation

The is making a big push to promote innovation, fostering programs and initiatives that encourage the development of and other advancements in law. But in other parts of , including Hong Kong, has been largely left to the market.

Lawyers say Singapore has made noticeable progress in legal innovation largely because of the role played by the government, which has rolled out several initiatives designed to help build an ecosystem that fosters cooperation in the local legal community.

In 2016, the Singapore government announced a five-year overarching plan to develop an innovation-driven economy and pledged a $13.6 billion public investment in research and innovation over the five years ending in 2020. Last year, the city-state said that an additional $110 million will be invested into startups and products over the course of five years.

Source: Anna Zhang | The American Lawyer