Efforts by universities here to encourage entrepreneurship attest to its enduring importance in a knowledge-driven economy. The National University of Singapore has announced an additional investment in its entrepreneurial arm. Nanyang Technological University has a five-year plan to turn the technological innovations of its students and teachers into commercial successes. These plans tie in well with the Economic Development Board's vision of the country as an innovation centre for multinational corporations moving to Asia. Entrepreneurial initiatives help to place Singapore on the trajectory of advanced economic development, much as top entrepreneurial institutions such as Stanford University, the Massachusetts Institute of Technology, the University of California at Berkeley and Cornell University do for the United States.
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