Nordic-Agri Food-Tech Delegation Singapore 2024

what
  • By 2030, 30% of nutritional needs in Singapore must be met with local produced food – up from less than 10% today.
  • Whole-of-government approach has been engaged tapping into both private and public players to make Singapore a secure and sustainable agri-food tech hub.
  • With one per cent of its land arable for food production, Singapore recognises the critical need for farms to maximise their output. This requires new innovations and enabling technologies. As of December 2022, Singapore has allocated a total of USD 220 million to provide funding for farms to expand and optimise their production capabilities, and USD 23 million for R&D in sustainable food production.
  • As of now, Singapore is home to more than 30 indoor vertical farms, it’s an R&D hub for four of the world’s top five food and nutrition companies and ranks among the top five locations for flavours and fragrance and ingredient companies. Singapore is home to many alternative protein manufacturing companies and is also the world’s first regulatory authority to allow cultured meat to be sold. Other Southeast Asian countries are now closely watching how Singapore resolves its food security issue with a view to incorporate best practices in their own economies.
  • Key Agri-food technologies needed to address Singapore’s food challenge:
    • Urban Agriculture
    • Aquaculture
    • Alternative Proteins
  • These key areas promise growth opportunities for global agrifood companies looking to meet the increasing needs of Asian consumers, with the region’s food spending expected to double to over S$10.65 trillion (US$8 trillion) by 2030.
  • Further, Singapore has allocated a total of USD 229 mn to drive research and development in Urban Agriculture, Aquaculture & Alternative Proteins.

how

Singapore is home to more than 30 indoor vertical farms, an R&D hub for four of the world’s top five food and nutrition companies and ranks among the top five locations for flavours and fragrance and ingredient companies. It is also a base for many alternative protein manufacturing companies, being the world’s first regulatory authority to allow cultured meat to be sold. Other Southeast Asian countries are now closely watching how Singapore resolves its food security issue with a view to incorporate best practices in their own economies.

Swedish agri-food tech companies can tap into several opportunities in Singapore:

  • Explore the R&D capabilities of local public sector institutes or private sector partners. They can help jumpstart market trials for Swedish companies. Businesses are also eligible for funding if they intend to start local manufacturing of biotech-based protein or sustainable urban food production like leafy greens or berries.
  • Share best practises and monetise your technologies. Sweden has built one of the highest standards in sustainable food production and food quality. The same may not be said for Singapore, as regulations for monitoring animal feed and alternative protein safety are still in the early stages. Swedish best practices and technological innovations for safe food, proper storage, and sustainable food production both downstream and upstream to open potential business development and consultation opportunities in Singapore.
  • Use Singapore as a testbed for Asian taste buds. Even though Swedish businesses are in the forefront in healthy foods and alternative proteins, to tap into the Asian or Southeast Asian market requires that the product goes well with Asian flavours. Since Singapore is a melting pot of races and cultures, it presents a good testbed for Swedish companies to understand the market, and recalibrate flavours, before committing fully to expand their business to the rest of Asia.

Call to action 

Join Business Sweden for the 3rd Agri-food Tech delegation to Singapore, emphasizing business opportunities and ecosystem partnerships in the agriculture and food technology sector across Southeast Asia: https://invitepeople.com/events/ed93217d50

For this year, two different tracks have been prepared. The first is aimed at businesses or research institutions looking for research or scientific collaboration, or just to see if Singapore has the right market fit. The second track is aimed at companies looking to take the next step in securing their seed funding or commercialize their products in the region. Both tracks will have you meet local startups, venture capitalists, government stakeholders, and visit public institutions instrumental in building the agri-food tech landscape.

This event also coincides with the Singapore International Agri-Food Week 2024, a platform showcasing the latest innovations in sustainable food production in Asia. With over 1000 global leaders from diverse sectors, including suppliers, corporates, startups, institutes, and governments, this delegation offers a unique opportunity to connect and explore collaboration possibilities.

For more information: Nicholas.song@business-sweden.se