SINGAPORE - Temasek has signed an agreement with the Agency for Science, Technology and Research to establish the Food Tech Innovation Centre, a facility to accelerate the commercialisation of food technologies.
Separately at the summit, Mr Alvin Tan, Minister of State for Trade and Industry, had earlier highlighted Singapore's achievements in realising its ambition to produce as much as 30 per cent of its food needs locally by 2030. "We certainly see a lot more opportunities in Asia than we saw a few years ago," he said, referring to start-ups in the agri-food sector.
More on this topic Mr Maheshwari added that global food production would have to be increased by 40 per cent to feed a world population set to hit a total of 9.8 billion by 2050, up from 7.7 billion now. Mr Yeoh Keat Chuan, Temasek's senior managing director for enterprise development, said production of plant-based proteins and precision fermentation to make milk proteins will be the starting point of the collaboration with A*Star.