MEDIA RELEASE | FOR IMMEDIATE RELEASE

Singapore, 6 January 2010
Total: 4 pages (including notes to editor)

Exploit Technologies appoints new Chairman and Chief Executive Officer

Singapore, 6 January 2010 – Exploit Technologies, the commercialisation arm of Singapore Agency for Science, Technology and Research (A*STAR), today announced that Mr Boon Swan Foo stepped down as the Executive Chairman of the Board on 31 December 2009. Mr Boon had served as Exploit Technologies’ Executive Chairman since the organisation’s inception in 2002.

Mr Tan Gee Paw, who has served on the Exploit Technologies’ Board as a founding director from October 2001 to October 2009, has been appointed as Chairman of the Board with effect from 1 January 2010. Mr Philip Lim, who joined Exploit Technologies in August 2009 as its General Manager, had assumed responsibility as the Chief Executive Officer on 1 December 2009.

Mr Boon Swan Foo said, “The next few years have the potential to be an exciting time for Exploit Technologies, making it an ideal time to further enhance the depth and strength of its senior leadership. We have exceptional management and industry expertise throughout the organisation and, in conjunction with the new Board under Mr Tan Gee Paw’s chairmanship, I am confident that Philip will continue to advance our strong position as a leading commercialisation evangelist in Singapore and beyond. Over the past years, Exploit Technologies has incubated a strong technology pipeline and built up an experienced management team; I am confident that Singapore will soon have our very own blockbusters on the world stage."

Mr Lim Chuan Poh, Chairman of A*STAR, said, "We thank Swan Foo for his many contributions to A*STAR since 2002. As Managing Director of A*STAR from 2002 to 2006, Swan Foo played a critical role in laying the foundation to transform A*STAR into an R&D powerhouse. He worked hard to align A*STAR's research focus with the needs of the economy and championed efforts to encourage the research community to work more closely with their industry partners. As the full-time Executive Chairman of Exploit Technologies from 2006, Swan Foo scored many successes in facilitating the transfer of A*STAR's technologies to the market, nurturing start-ups and implementing effective strategies to help incubate and patent technologies for commercialisation. Under his watch, Exploit Technologies set up the Technology Transfer Network (TTN), which boasts of 24 members globally to date, and the Angel Investment Management initiative for aspiring entrepreneurs. He has also put together an outstanding management team and staff to carry on the good work at Exploit Technologies. I would like to acknowledge Swan Foo's role and dedication in developing Singapore's R&D landscape, and wish him all the best in his future endeavours."

Mr Philip Lim, CEO of Exploit Technologies, added, “I thank Mr Boon for his vision in leading Exploit Technologies to where we are today. I am very excited about the challenge of building upon past achievements to make our commercialistaion efforts even more effective. I look forward to working with the new Board and staff in Exploit Technologies to put Singapore on the forefront of technology transfer.”

An exclusive interview with Mr Boon Swan Foo and Mr Philip Lim on their future plans will be featured soon on Exploit Technologies blog at www.exploit-tech.com. All media representatives are invited to register as blog members to receive the latest news on technologies and events from Exploit Technologies.

Exploit Technologies is the strategic marketing and commercialisation arm of the Agency for Science, Technology and Research (A*STAR). Its mission is to support A*STAR in transforming the economy through commercialising R&D. Exploit Technologies enhances the research output of A*STAR scientists by translating their inventions into marketable products or processes.

Through licensing deals with industry partners and spin‐offs, Exploit Technologies is a key driver of technology transfer in Singapore. It actively engages industry leaders and players to commercialise A*STAR's technologies and capabilities, bridging the gap from Mind to Market. Exploit Technologies’ charter is to identify, protect and exploit promising intellectual property (IP) created by A*STAR’s research institutes.

For more information, please visit www.exploit‐tech.com.

1.      Mr Boon Swan Foo had served as A*STAR’s Managing Director from 2002 to 2006. He played a critical role in transforming A*STAR into an R&D powerhouse, brought the research focus of A*STAR to be more aligned with the needs of the economy, and encouraged the research community to work more closely with their industry partners. His innovative approach was imprinted in the development of the National Science and Technology Plan 2010, which included the formation of multi-agency Technology Scan Panels in physical science and engineering. During this period, he was concurrently the Executive Chairman of Exploit Technologies, and from 2006, became Exploit Technologies’ full-time Executive Chairman. He concentrated on leading Exploit Technologies to become a world-class technology transfer organization, and initiated new programmes to encourage the development of a stronger commercial and entrepreneurial mindset in the A*STAR community. Mr Boon is highly regarded for his extensive experience in managing technology businesses as a prominent technology leader in Singapore.

2.      Mr Tan Gee Paw has served on the Exploit Technologies’ Board as a founding director from October 2001 to October 2009. Mr Tan has a wealth of experience in both the public and private sectors. He has had a distinguished career in the public service, serving as the Chairman of the Public Utilities Board (PUB), an appointment he holds since April 2001. Additionally, Mr Tan has been a member of the Presidential Council for Religious Harmony since September 2005. He is also Chairman of OpenNet Pte Ltd and First DCS Pte Ltd, a Director of the Singapore Millennium Foundation Ltd and Ascendas Pte Ltd.

3.      Mr Philip Lim first joined Exploit Technologies in August 2009 as its General Manager; and was appointed the Chief Executive Officer in December 2009. Philip brings his wide and varied management experience to Exploit Technologies. He had a 20-year career with the Ministry of Defence where his last appointment was as Brigadier General/Head Joint Logistics and was the leading senior specialist on logistics and engineering matters to the Chief of Defence Force. Prior to that, Philip was responsible for Supply Chain, Transportation & Engineering in the Army. He was instrumental in spearheading many transformational initiatives in SAF logistics especially in areas of force modernisation, re-organisation and information technology. In 2007, he joined Singapore Food Industries where he oversaw its regional business development and food trading business which had annual revenue of over S$170 million. Philip graduated with a Bachelor of Science in Mechanical Engineering (Hons) from the National University of Singapore. He attended the Harvard Business School’s Programme for Management Development in 2001. Philip also holds a Master of Science from Cranfield Institute of Technology in the UK and a MBA from NUS Business School.