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AgTech FoodTech

ESG set aside over S$55 million to develop a vibrant agri-food tech ecosystem

Enterprise Singapore (ESG) has set aside over S$55 million to accelerate the growth of promising local agriculture and aquaculture companies. ESG’s ongoing efforts will catalyse innovation and scalable solutions to meet evolving needs. ESG has put in place various initiatives to support the growth of the agri-food tech startup ecosystem and drive deep tech commercialisation.

Modern technology in agriculture and aquaculture has enabled the development of climate-resilient, resource-efficient and high-yield farming solutions, offering opportunities for food producers to ‘grow more with less’ in densely built-up environments. ESG has been supporting local food producers in their development and adoption of these technologies.

“There is an urgency for our agriculture and aquaculture companies to leverage agri-food technologies to address the growing demand locally, as well as globally. We will also continue to support agri-food tech startups and the use of disruptive innovation to future-proof food production in Asia. This will not only contribute towards national food resilience, but further strengthen their global competitiveness.” 

Mr Ted Tan, Deputy CEO, Enterprise Singapore

ESG has anchored six global agri-food tech and life sciences accelerators in the past year under the Startup SG Accelerator programme – Big Idea Ventures, GROW, Hatch Blue, The Yield Lab, Trendlines Agrifood Innovation Centre and Temasek Life Sciences Accelerator – to nurture and mentor agri-food tech startups in fundraising, product development, commercialisation and internationalisation. These six accelerators are expected to groom over 150 agri-food tech startups over the next three years.

ESG is working with innovative aquaculture and agriculture companies, like:

  1. Singapore Aquaculture Technologies (SAT) is a sustainable aquaculture nutrition & healthcare company based in Singapore. It complement natural processes from the ocean, sun, micro-algae and aquaculture, with technology to create scalable solutions. It currently runs a smart floating fish farm incorporating Internet of Things (IoT) and artificial intelligence to control processes and optimise resource inputs, such as feed, energy and oxygen. 
  2. Sustenir Agriculture produces seasonal crops all year round through Controlled Environment Agriculture. A passion for nutrition and the environment runs through the Sustenir team. The company uses 95% less water than traditional farming and by growing locally, it reduces carbon emissions for a happier healthier earth.

Beyond growing enterprises, ESG will continue their efforts to build trust in Singapore products and services through quality and standards, as well as establish Singapore as a leading startup and trading hub.

Read more at SG Press Centre

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