Which countries come to mind when you hear "agriculture"? China? Yes. Japan? Probably. Singapore? Not so much. The country has never had a large role to play in agriculture. Yet in the past two years, the authorities cannot seem to stop waxing lyrical about the potential of Singapore as an agrifood tech hub for the region.
Just earlier this week, Enterprise Singapore (ESG) investment arm Seeds Capital appointed seven co-investment partners to pump more than S$90 million into Singapore agrifood tech startups. The last year also saw notable movements within the private sector as well. Catalist-listed Trendlines announced plans to open an innovation centre to develop agrifood technologies here, and wants to raise a US$40 million venture fund. Global agrifood tech accelerator network The Yield Lab rode into town too, basing their regional operations in Singapore.