Enterprise Singapore‘s SEEDS Capital officially open its door to welcome co-partners in grooming Singapore’s agrifood tech companies. The specific choice is a part of the company’s vision to bring Singapore Food Manufacturing sector to become a leading food and nutrition hub in Asia in seven years.
Agrifood tech involves the technologies that exist to improve both the efficiency and sustainability of food supply chain from farm to fork. The key in this industry is sustainability in growing food products to achieve 50 per cent food produce by 2050 to fulfill dietary and nutritional needs to about 9 billion population.
SEEDS Capital’s strategy is to co-partner with candidates who can identify and co-invest in Agrifood startups in Singapore and who can provide mentorship and networking access to fast-track commercialisation.
For this round, SEEDS Capital will provide a co-matching of 7:3 (up from 1:1 previously) for the first S$500,000 of co-investment, and up to S$4 million per deep tech startup (up from S$2 million after the government co-investment ratio’s enhancement, under Startup SG Equity, which is a scheme catalysing private-sector investment for startups where SEEDS Capital is acting administrators of funds).
Application criteria for future co-investors are as follows:
- Applicants will need to demonstrate financial commitment, resources, expertise in agrifood tech, and experience in nurturing startups in these areas.
- Applicants will be selected mainly based on the capabilities and experience of the team, adequacy of commercialisation resources and fund management processes.
- Applicants must have a track record of nurturing and investing in early-stage tech startups and access to investment capital and follow-on investors.
Enterprise Singapore is accepting partner applications and proposals until October 5, 2018. All interested parties residing in Singapore are welcome to submit their proposals.