Speech by Deputy Prime Minister and Minister for Energy, Trade and Industry (Trade) Gan Kim Yong at the Launch of PhysicsX SG

Dr Robin Tuluie, Founder and Chairman, PhysicsX,

Mr Jacomo Corbo, Co-Founder and Chief Executive Officer, PhysicsX,

Mr Teo Chee Hean, Chairman, Temasek Holdings,

Mr Dilhan Pillay, Chief Executive Officer, Temasek Holdings,

Distinguished Guests,

Ladies and Gentlemen,

1. Good evening. It is my pleasure to join you for the opening of PhysicsX’s Singapore office.

2. Since its founding in 2019, PhysicsX has grown to almost 400 employees globally, and is working with leading companies across multiple sectors, including aerospace and defence, automotive, semiconductors, materials, energy, as well as renewables.

3. PhysicsX brings together AI, physics and engineering to allow companies to model physical systems more rapidly, explore more design options and develop new solutions faster.

4. Singapore is a natural partner for PhysicsX.

a. Our industrial strengths can help the company develop its technology further and scale up faster.

b. In turn, its solutions can help our manufacturers build new capabilities, become more competitive and expand.

c. Their growth can create further opportunities for PhysicsX, while strengthening Singapore’s position as an advanced manufacturing hub.

Building on Singapore’s industrial depth

5. Over many decades, we have built strong capabilities in semiconductors, aerospace and biomedical sciences. These industries bring together experienced engineers, specialised suppliers and manufacturers, to work on demanding technical challenges.

6. This ecosystem will be especially valuable to PhysicsX.

a. By working alongside our manufacturers and engineers, PhysicsX can develop and test its models and platforms against challenging industrial requirements.

b. Solutions that work well in these settings can then be adapted for other customers facing similar challenges.

7. Our maritime, offshore and logistics sectors also offer opportunities to apply PhysicsX’s technology.

a. PhysicsX’s work with Seatrium on applying AI to pipe stress analysis for complex offshore structures, which Jacomo mentioned, illustrates some of these possibilities.

8. Singapore will be PhysicsX’s second largest base outside London, but opportunities will extend beyond our domestic market.

a. From here, PhysicsX will develop and deploy AI solutions to serve customers across the region.

Strengthening our manufacturing competitiveness

9. As our manufacturers partner PhysicsX, they can also use the solutions to strengthen their own competitiveness – through better products and higher productivity.

10. With faster modelling, engineers can explore more designs, compare their performance and refine them before moving them to production. This can shorten development cycles, lower costs and reduce the time to market. Better simulation can also help manufacturers improve production processes and plant operations.

11. Through our Champions of AI programme, we will help leading companies move beyond isolated pilots to embed AI at the core of their operations, while redesigning jobs and upskilling their workforce.

12. At the same time, our National AI Missions will drive transformation in four key sectors – namely, advanced manufacturing, connectivity, finance and healthcare – which together account for more than 40 per cent of our GDP.

Supporting growth through research, capital and talent

13. Technology, especially AI, is expanding what startups can achieve and how quickly they can grow. But making the transition from startup to scale-up still takes capital, talent and strong partnerships.

14. Singapore can bring these different elements together to support companies to grow and realise their ambitions

15. PhysicsX’s expansion here illustrates how different parts of our ecosystem can contribute.

a. Its collaboration with A*STAR will bring together PhysicsX’s capabilities with Singapore’s scientific and engineering expertise to develop AI-enabled solutions for complex industrial challenges in areas such as advanced manufacturing, maritime engineering and biotechnology. The two parties will commit $40 million over the next five years.

b. Through A*STAR’s research and industry collaborations, the partnership will also explore opportunities to apply these AI-powered capabilities.

c. PhysicsX will also partner EDB to anchor a substantive Asia-Pacific R&D and engineering mandate in Singapore.

16. Temasek first invested in PhysicsX last year and led its latest funding round in June.

a. Temasek’s support helps PhysicsX invest in technology and expand its business, while Temasek’s networks can connect the company with partners and markets around the world.

b. Drawing on its industrial investment experience and knowledge of our business and research ecosystem, Temasek has also helped shape PhysicsX’s Singapore and regional strategy.

c. It also supported the company in identifying potential partners, such as Seatrium.

17. As PhysicsX builds its team here, it can draw on Singapore’s pool of engineers and researchers to develop and deploy solutions for regional projects from Singapore.

a. Singapore will be its key R&D and engineering hub for Asia-Pacific. PhysicsX will create more than 70 high-value technical jobs in Singapore over the next three years, including engineers and research scientists.

b. Our people will have the opportunity to work at the intersection of AI, physics and engineering, addressing multi-disciplinary industrial challenges across the region.

c. Through this work, they can deepen their skills in industrial AI and advance their careers.

d. PhysicsX also plans to work with local universities to develop engineering and AI talent. This could include supporting PhD students and collaborating on research and training.

18. This ability to bring together research, industry, capital and talent is an important part of Singapore’s value proposition to companies like PhysicsX.

Conclusion

19. We look forward to working with PhysicsX as it expands from Singapore.

20. Our industrial experience, research capabilities, capital and talent will support its growth, and in turn, its success can help our manufacturers compete, give our researchers new opportunities to apply knowledge, and createjobs for our people.

21. Once again, congratulations to the PhysicsX team on this key milestone.

22. Thank you.