Singapore’s government enterprise body SPRING is joining forces with economic development agency Primary Industries and Regions South Australia (PIRSA) to collaborate on functional food innovation.
The two organization have signed a MoU to promote business and share understanding.
SPRING is the driving force behind Singapore’s Food Manufacturing Industry Transformation Map, which aims to boost jobs, production, skills and innovation in the sector.
As part of the transformation, SPRING has established a Food Innovation Cluster (FIC), a multi- agency body to encourage collaboration between MNCs, SMEs and researchers to speed up new product development.
Under the MoU, the FIC will work closely with South Australian Food Innovation Centre (SAFIC) to deepen the economic ties between South Australia and Singapore.
SPRING recently identified functional foods as being a key growth area for the nation’s SMEs, noting that there will be a rising demand for products tailored to the needs of Asia’s ageing population.
In Singapore, the food manufacturing industry also plays a significant role in the economy, with more than half its output being exported to countries such as Japan and China.
