Innovation boost for Singapore food companies

Over 300 regional and global leaders from the food & beverage (F&B) industry gathered in Singapore for the inaugural Food for the Future Summit hosted by Food Industry Asia (FIA) on April 26, 2018.
Over 300 regional and global leaders from the food & beverage (F&B) industry gathered in Singapore for the inaugural Food for the Future Summit hosted by Food Industry Asia (FIA) on April 26, 2018. PHOTO: FIA

Local food companies looking to innovate are set to receive a boost from an initiative that aims to equip them with knowledge and resources required to tackle future food trends.

Called FoodInnovate, the programme will be led by Enterprise Singapore and involve various other government agencies, like the Agri-Food and Veterinary Authority.

To drive change in the $4.3 billion food-manufacturing industry here, it will focus on four main strategies: provide physical infrastructure; equipfirms with food science knowledge and market insights; create platforms to incubate ideas; and build a base for food-tech start-ups.

FoodInnovate was announced by Finance Minister Heng Swee Keat at a food industry summit yesterday.

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A version of this article appeared in the print edition of The Straits Times on April 27, 2018, with the headline 'Innovation boost for Singapore food companies'. Print Edition | Subscribe