The EDB has a mission to bring in big names to 'buzz up' the local R&D environment. For this it has been given a fairly massive war chest. The strategy appears to be to throw money at big named companies to entice them to set up research facilities in Singapore. Create a buzz, has been the buzzword. Eli Lilly was not the only company to have tasted of these low lying fruits. Now after sampling these fruits for 8 years Lilly has decided that it is better off elsewhere, especially after the EDB grants wear off.
I am personally not so convinced of the EDB's strategy to just throw money at these companies for dramatic short term buzzes. I am unsure how much real benefit follow from such extravagance. A high end research facility employing how many locals? Did the research facility really benefit the local research environment; really result in long term enhancement of the local research infrastructure? I am more than skeptical. The money could have been better spent developing real quality in home grown efforts. Methinks this would have had more enduring effects than the printing of glossy annual reports.
Who audits the EDB, I wonder?