Enterprise Singapore’s Year-In-Review 2021
February 16, 2022
“In 2021, Enterprise Singapore (ESG) partnered 22,100 Singapore enterprises to build new business capabilities, innovate and go global despite the pandemic.
This is estimated to catalyse S$17.9 billion in value-add and 23,300 skilled jobs for the Singapore economy over the next few years.
This year, there are strong signs of a global economic recovery. With Singapore businesses showing themselves to be adaptable and resilient, it’s time to help them gear up to seize locally and abroad.” Read more on Enterprise Singapore’s Year-in-Review 2021
Looking ahead, one of ESG’s strategic priorities for 2022 is to intensify innovation and startup efforts. Innovation is imperative for businesses to thrive and stay ahead of the competition in this volatile environment. Being the Centre of Innovation for food industry, Food Innovation & Resource Centre (FIRC) partners ESG closely to help food companies innovate in the area of product creation & enhancement, productivity improvement, new market consumer insight and product testing, with the aim to bring the products to global stage.
An example of such company is NovaMeats- innovative, forward looking and fast in capturing growth. ESG Chairman Mr. Peter Ong in his speech cited NovaMeats working together with FIRC to develop and commercialise its first plant-based meat product. “Since then, NovaMeats has successfully launched in China. It has set up a manufacturing plant with production volume of 2,000 tonnes and hopes to produce 30,000 tonnes to serve the growing demand in China and the rest of Asia. Such a scale of operation could not have happened without internationalisation and without innovation” said Mr. Ong. This was also shared by Mr. Jeffrey Siow, Managing Director and Chief Operating Officer of Enterprise Singapore, in his interview with CNA.
Moving in tandem with ESG, FIRC will continue to partner aspiring food enterprises in their innovation journey, supporting them in breaking new grounds and reaching new heights.
Image credit: Enterprise Singapore