Singapore state investor to provide R&D and manufacturing support to help start-ups scale their operations
Singapore investment powerhouse Temasek has established the Asia Sustainable Foods Platform to help scale alt-protein production and accelerate the commercialisation of sustainable foods in Asia.
The platform will invest over $30 million in the Food Tech Innovation Centre (FTIC) which will provide R&D advisory services as well as a manufacturing facility for start-ups to increase production and enter the Asian market.
The platform will also assist in making key industry connections and allocate capital to the start-ups it views as particularly innovative.
Former Unilever, Kerry and Guvaudan executive Mathys Boeren will lead the initiative.
“Our key differentiating factor is our end-to-end enabler, operator, and investor capabilities that provide bespoke solutions and support to aspiring food-tech companies at every stage of their growth cycle,” Boeren said of the platform’s launch.
According to the CEO, the initiative is exploring joint venture opportunities with German food multinational Peter Cremer Holding and ingredients and US nutrition specialist ADM.
Cremer operates high moisture extrusion facilities which assist in the process of producing meat alternatives, while ADM uses natural ingredients to create food products and nutritional supplements.
The FTIC has signed an agreement to provide space in its facility to plant-based food start-up Next Gen Foods as part of its global R&D centre.
In a statement, Temasek said the FTIC would “address pain points foodtech businesses face in bringing their innovations to market, such as long wait-times for pilot-scale facilities and equipment, the lack of deep product and process development capabilities and the difficulty in navigating regulatory processes and understanding unfamiliar markets in other parts of Asia.”
Date published: 22 November 2021