Nowadays, when you say “food startup”, you mean not just production of food, but the IT- and technological solutions for it. In order to create any of those solutions, from a project for growing artificial meat to a company that produces chemicals for fruits and vegetables to be stored for longer, you need resources and finance. Venture capitalists watch technological startups in the food segment closely from the beginning of 2010’s. In 2013, they invested more than $2,8 billion into food-related projects all around the world, and $6,8 by 2015. The biggest part – nearly a half – goes to all kinds of the delivery services. Singapore has plenty of such projects too.
But they are far from the actual production of food, the creation of new meals and modernization of the old and the traditional ones. But this is exactly how foodie revolution began in the West, that increased the consumption and creation of new services. Perhaps, our show will be able to offer new tastes and new products to the Singaporeans while the Meallions’ finalists will be able to have the best opportunity to test how their projects will settle in the global markets.