The food sector is one of Singapore’s growth industries. Most recently, the government has announced plans to invest $500 million over five years in this area. This money will be used to drive innovation and entrepreneurship in this area. It will also help to build up a dynamic ecosystem that can support startups in the food industry. This article takes a brief look at what food tech accelerator singapore are all about, how startup entrepreneurs can benefit from them, and where successful entrepreneurs find reliable sources of funding for startup projects.
Food Technologies can be defined as an umbrella term that refers to all the science-based technological advancements which are making food processing faster, safer, more energy-efficient, and cheaper than traditional methods of production. The term also applies to all the technological advancements that are making food more accessible, affordable, and delicious than ever before. Singapore food tech accelerator can be grouped into six categories:
Computerized systems for process automation. Robotics. Tools, machines, and infrastructure for mass production of food items. Biotechnology tools such as genetic engineering, molecular markers, etc., are used to enhance the properties of food products. Nanotechnology applications in food processing help to reduce time and cost while improving quality and safety. Food protection technologies such as packaging materials ensure safe transportation and storage of food products—analytics technology which helps in understanding consumer insights related to eating habits, preferences, product choice, etc.
In Singapore, startups from the above-mentioned fields have been receiving a lot of attention from the government and multiple entrepreneurs’ clubs. Some of these initiatives are outlined below.