Singapore is positioning itself as an agri-foodtech hub in Asia and globally. The country has taken several measures to attract investments. Last year, Enterprise Singapore appointed seven co-investment partners that are expected to attract over S$90 million worth of investments to develop Singapore-based startups in the Agrifood tech sector. They will also provide hands-on assistance, such as introductions to new business partners and providing support to enter new markets.
Singapore is also setting up a Agri-Food Innovation Park (AFIP) – which will be a reference site for high tech farming operations to test and iterate technologies and explore cross-value chain synergies. The first phase of 18 hectares will be ready from Q2 2021, with the potential for expansion. Singapore is in active discussions with companies – ranging from indoor plant factories, insect farming companies, and aquaculture production to set up there.
Singapore is also promoting R&D – for instance the National Research Foundation announced the Singapore Food Story R&D program – a S$144M multi-year program that will enable collaboration between public research institutes and key private sector partners to solve agri-food challenges, including in the areas of novel proteins, urban agriculture, aquaculture, and food safety. Agencies will be announcing grant calls in the near future.
Singapore Economic Development Board (EDB) plays an important role in establishing Singapore as an agri-foodtech hub. EDB works with global leaders to create an ecosystem to develop and demonstrate the best technologies for Asia to nourish itself sustainably and help these companies scale their solutions into Asia.
CMT’s 3rd Sustainable Food Proteins Asia is aptly held in Singapore.