Singapore Business Review
Venture partner Wang Yunming provided our opinion on foodtech in Singapore, in particular the peculiar state of local investment firms preferring foreign to local players.
“Enterprise Singapore has also called for interested investors in foodtech to apply for co-matching funding to help plug gaps in sector knowledge and experience in the budding foodtech sector, noted Wang Yunming, venture partner at Quest Ventures.
“Singapore’s weakness is in the marketing of its abilities, and the seemingly inability of local investment firms to support local food companies. For example, there are already companies in Singapore that can do what Silicon Valley-based companies such as Impossible Foods do. From our vantage point in China, where local investment firms heavily support indigenous companies, this lack of local support in Singapore is odd and an unhappy and probably false indication that local companies cannot meet the expectations of local investors,” he explained.”