Cargill to launch first digital business studio in Asia in partnership with Singapore Economic Development Board

The studio will support local founders with investments that bring Cargill solutions to the market and accelerate innovation for the food and agriculture industry in APAC.

Cargill is launching its first digital business studio in Asia in partnership with the Singapore Economic Development Board (EDB). The studio is designed to support local founders with investments that bring Cargill solutions to the market and accelerate innovation for the food and agriculture industry in Asia-Pacific.

Through this three-year partnership, Cargill will develop a portfolio of at least five new startups in Singapore. The startups will focus on pressing industry challenges — from increasing access to market data for smallholder farmers, to creating more efficient, transparent and cost-effective food supply solutions.

To lead these new startups, Cargill is recruiting experienced entrepreneurs keen to solve urgent problems facing the global food and agriculture system. Entrepreneurs will have access to investments in resources, business management and innovation processes proven in other markets.

This partnership builds on EDB’s efforts to grow Singapore’s corporate venturing movement, encouraging companies to build new businesses with start-up like agility. This includes investing in growth areas beyond their core businesses to keep ahead of the fast-changing pace of disruption.

As a space for Cargill to incubate and scale startups, the new studio will enable solutions such as the following:

• Farmers across Asia face challenges ranging from inconsistent crop yield, low access to credit or financing, and limited visibility to constantly shifting crop prices. To feed Asia's expanding population and address other challenges, digital solutions are necessary to play a critical role in farmers' livelihood by improving their productivity and profitability.
• Small to medium-sized restaurants and retailers in Southeast Asia have highly manual processes to access and source the ingredients they need from a fragmented base of suppliers. New digital advancements can increase the reliability and flexibility of the ingredient supply chain, providing direct, giving direct access to a unified business to business food ordering system.

The digital business studio builds on Cargill's existing investment in innovation and commitment to Asia, where the company is helping farmers and food operators overcome their most significant challenges. Cargill currently has four innovation centers across Asia: Singapore, Gurgaon, Beijing, and Shanghai. At these centers, Cargill harnesses global expertise in animal protein, refined oils, sweeteners, starches, cocoa, texture solutions and unique flavors.

Lead image / Cargill Studio Team

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