Singapore government investment fund Temasek stated in a statement on November 15 that Singapore plans to significantly promote the development of the domestic food industry in the next three years by promoting and funding innovative companies in the industry.
First of all, Temasek and Singapore’s scientific, technical and research institutions will inject more than US$30 million into the Asian Sustainable Food Platform. This is a newly established plan to act as promoters, operators and investors to support the development of food technology companies. Provide R&D consulting, operational capabilities and funding throughout the entire life cycle from product development to commercial scale expansion.
The representative of Temasek stated that the initiative should help encourage the private sector to make additional investments in agricultural technology or the agricultural technology industry.
Support local companies to innovate and commercialize food alternatives
“Since 2013, Temasek has invested more than US$8 billion in the global farm-to-table value chain, and we will continue to increase our investment in this area,” said Yang Jiechuan, Temasek’s Vice President of Corporate Development.
“Singapore can play an important role in the transformation of the agri-food sector. The Asian Sustainable Food Platform aims to support local and regional businesses, innovation, scale-up and commercialization,” he added.
According to research conducted by Temasek, Asia is expected to require approximately US$1.55 trillion in investment in the next ten years to meet consumers’ growing demand for healthier and more sustainable food choices. The most pressing issues are food safety and supply. Strengthening of the chain.
One-stop shop for food startups
The core part of the Asia Sustainable Food Platform will be the Food Technology Innovation Center, which is a base that provides tailored infrastructure and service products for promising food technology start-ups.
The center is designed as a one-stop shop, providing aspiring food technology start-ups with knowledge of using extrusion and fermentation equipment, shared laboratories, test kitchens, joint work spaces, and research and development pilot facilities.
Consumers have a strong demand for healthier and more sustainable food
So far, Temasek has invested in companies headquartered in California, such as Impossible Foods, which produces plant-based meat substitutes, and Eat Just, a cellular protein producer. Both companies are now multi-billion dollar startups or unicorns.
Chuan said that the new platform will support a variety of solutions to sustainable needs, from replacing protein to reducing food waste, and technologies to reduce methane emissions. Methane is the main cause of climate change.
Singapore government investment fund Temasek stated in a statement on November 15 that Singapore plans to significantly promote the development of the domestic food industry in the next three years by promoting and funding innovative companies in the industry. Science, technology, and research will inject more than 30 million U.S. dollars into the Asian sustainable food platform. This is a newly established plan to support the entire life cycle of food technology companies from product development to commercial scale, as a promoter and operator And investors-by providing R&D consulting, operational capabilities and financial support. initiative…
Singapore government investment fund Temasek stated in a statement on November 15 that Singapore plans to significantly promote the development of the domestic food industry in the next three years by promoting and funding innovative companies in the industry.
First of all, Temasek and Singapore’s scientific, technical and research institutions will inject more than US$30 million into the Asian Sustainable Food Platform. This is a newly established plan to act as promoters, operators and investors to support the development of food technology companies. Provide R&D consulting, operational capabilities and funding throughout the entire life cycle from product development to commercial scale expansion.
The representative of Temasek stated that the initiative should help encourage the private sector to make additional investments in agricultural technology or the agricultural technology industry.
Support local companies to innovate and commercialize food alternatives
“Since 2013, Temasek has invested more than US$8 billion in the global farm-to-table value chain, and we will continue to increase our investment in this area,” said Yang Jiechuan, Temasek’s Vice President of Corporate Development.
“Singapore can play an important role in the transformation of the agri-food sector. The Asian Sustainable Food Platform aims to support local and regional businesses, innovation, scale-up and commercialization,” he added.
According to research conducted by Temasek, Asia is expected to require approximately US$1.55 trillion in investment in the next ten years to meet consumers’ growing demand for healthier and more sustainable food choices. The most pressing issues are food safety and supply. Strengthening of the chain.
One-stop shop for food startups
The core part of the Asia Sustainable Food Platform will be the Food Technology Innovation Center, which is a base that provides tailored infrastructure and service products for promising food technology start-ups.
The center is designed as a one-stop shop, providing aspiring food technology start-ups with knowledge of using extrusion and fermentation equipment, shared laboratories, test kitchens, joint work spaces, and research and development pilot facilities.
Consumers have a strong demand for healthier and more sustainable food
So far, Temasek has invested in companies headquartered in California, such as Impossible Foods, which produces plant-based meat substitutes, and Eat Just, a cellular protein producer. Both companies are now multi-billion dollar startups or unicorns.
Chuan said that the new platform will support a variety of solutions to sustainable needs, from replacing protein to reducing food waste, and technologies to reduce methane emissions. Methane is the main cause of climate change.
