The S$135-million (Bt4.2-billion) fund, announced last year, will support innovative ideas and solutions for a "highly liveable, economically vibrant and a resilient city of the future".
For example, the government will consider funding a project that focuses on underground goods transportation, which would relieve road congestion. It also hopes that there will be projects focused on natural ventilation and noise reduction.
The Development Ministry is also awarding $12 million in grants for projects including “smart” windows that reduce heat and glare.
The ministry has also earmarked another $25 million for new programmes, Lee added.
"Creating a future-ready city challenges us to stretch our planning and design parameters to accommodate both known and unknowns," he said.
“We may not always anticipate right but we can make enough provisions and room for growth, for taking in innovations and solutions we have yet known.”