Singapore, South Australia seal food innovation deal

The agreement will facilitate information exchange between the two countries.

Singapore and Australia have signed a memorandum of understanding to establish and foster closer collaboration in food innovation.

The deal, signed by SPRING Singapore (SPRING) and Primary Industries and Regions South Australia (PIRSA), will leverage Singapore’s Food Innovation Cluster (FIC) and South Australian Food Innovation Centre (SAFIC) as platforms to promote business and facilitate knowledge exchanges between the two countries in the area of food innovation, and to actively engage each other in topics such as functional food development and food waste reduction.

Led by SPRING, the FIC in Singapore is a multi-agency effort to catalyse innovation amongst multinational companies, local SMEs and research institutions, and accelerate the development and commercialisation of new products. The FIC is a key initiative under Singapore’s Food Manufacturing Industry Transformation Map (ITM), which was launched in November 2016, to steer the industry’s growth over the next five years.

In South Australia, the SAFIC has been established to maximise future opportunities for its food and beverage industry by supporting innovation and encouraging commercialisation of new ideas and products.

Singapore is a key trade partner for South Australia. Between 2015 and 2016, the state’s agriculture, food and wine exports to Singapore were valued at AUD$111m.

The business delegation to Singapore supports South Australia’s larger South East Asia Engagement Strategy to explore opportunities in the food and beverage sector of the region