Connecting you to opportunity
While there are excellent opportunities for agrifood startups in Australia (recently voted the fifth most startup friendly nation in the world), there is no secret to the fact that global expansion will probably be required to achieve significant growth. Similarly, for larger companies looking to access disruptive innovations, it is essential that they take a global perspective when scouting for solutions to their problems.
More recently we identified that Singapore was increasing in importance as a ‘place to be’ when it comes to innovating in the food system. This is partly driven by the fact that they have a very proactive and supportive government that understands the importance of new technologies and the role of startups in addressing some of the big food security and sustainability challenges. Singapore has also long been a ‘gateway’ for food exports to the rest of the region, one of the fastest growing markets in the world. In 2018, Singapore announced it wanted to be the ‘Food Startup Nation’ and it is therefore not surprising that it is now starting to attract startups from all over the world.
It made sense for Food Futures Company to establish a base in Singapore – both as a source of innovation for our Australian partners, but also as a ‘launch pad’ for the startups we work with looking to expand globally. In 2019 we formed a joint venture with the US-based investment fund, AgFunder (one of the most prolific agrifood tech investors globally) to create the new Singapore-based accelerator GROW AgriFood Tech. To learn more about GROW’s exciting portfolio of investments and programs for startups and scaleups go to www.gogrow.co