SINGAPORE (Dec 4): Aspiring food entrepreneurs can now tap on a manual to uncover the dos and don’ts of incorporating a food start-up in Singapore.
“The Good Food Start-up Manual: Singapore Edition” was launched on Nov 29 by The Good Food Institute, a US-based non-profit funded by the Bill & Melinda Gates Foundation, and Feed 9 Billion, a Singapore-based innovation platform.
The manual touches on the conceptualisation and set up of the business; sourcing for funding and mentorship; creation of commercially scalable products; and the navigation of legal and regulatory requirements.
Speaking at the launch of the manual, John Cheng, chairman of Feed 9 Billion, says it serves as a “reference point for start-ups to steer through the Singapore food landscape”.
Cheng, who is also the director of food incubator Innovate 360, observes that there has been a growing number of food technology businesses here that are focused on creating sustainable, healthy food.
His role at Innovate 360 sees Cheng providing advice to eight start-ups in the incubator.
Indeed, the number of food technology start-ups in Singapore is expected to increase.
Under its “30 by 30” goal, the city state aims to domestically produce 30% of its total food consumed by 2030.
“The food industry today is being disrupted by novel technologies and innovations, all with the goal of producing more and better food for the future” says Ted Tan, deputy CEO of government agency Enterprise Singapore.
“Start-ups are key drivers of these disruptions,” Tan adds. He stresses that a stronger start-up support network will allow companies to thrive by connecting with a wider community of insiders and experts for advice on emerging trends and solutions.
Singapore stands to benefit from such a strong network and government support, notes Elaine Siu, APAC managing director of The Good Food Institute.
Going forward, Siu believes the city state is “set to be a pioneer in regulatory development, market entry timing and product innovation”.
