- About us
- IBJ Awards
- Free Sample
- Contact us
Cargill launches Asia Pacific digital studio to accelerate food/ag innovation
(Posted on 07/09/22)
Cargill is partnering with the Singapore Economic Development Board (EDB) to launch its first digital business studio in Asia. 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 immediately recruiting experienced entrepreneurs who are passionate about solving some of the most urgent problems facing our global food and agriculture system. Entrepreneurs will have access to investments in resources, business management and innovation processes proven in other markets. Learn more about the Cargill digital business studio HERE.
"Cargill is combining its deep industry expertise with the speed and agility of a startup approach to launch the digital business studio. Together, we aim to solve some of the region’s toughest food and agriculture challenges in novel ways. With Singapore’s prominence and reputation as a vibrant agri-innovation hub, we are pleased to collaborate with EDB on this initiative. We are confident that the digital business studio will encourage boldness, creativity and inspiration to advance the sustainability of the region’s food and agriculture sector.” said Ross Hamou-Jennings, chair of Asia Pacific at Cargill.
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.
“We are excited to partner with Cargill in building Singapore ventures that have the potential to become globally leading agri-food businesses,” said Choo Heng Tong, Executive Vice President, New Ventures and Innovation, EDB. “Cargill can provide significant advantages for these ventures through its deep domain expertise, customer networks and global scale, while leveraging Singapore’s connectivity to key markets and R&D capabilities. These ventures will be at the forefront of innovations, complementing Singapore’s development of novel agri-food solutions and contributing to global food resiliency efforts.”
The digital business studio will be a space for Cargill to incubate and scale transformative startups, in close partnership with customers. It allows for expanded reach into digital innovation, bringing new solutions to meet the changing needs of the food and agriculture industries. For example:
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.
"This is a unique model where entrepreneurs can transform the industry and make lasting change on a regional and even global scale. The opportunity to wake up every day and create solutions that improve lives and nourish the world is game changing,” said Eric Parkin, global digital business studio leader at Cargill.
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 and seize new opportunities. Cargill has four innovation centres across Asia: Singapore, Gurgaon, Beijing and Shanghai.
Cargill and Owensboro Grain Company, a fifth-generation family-owned soybean processing facility and... Read more
Rio Tinto is providing an update at its Investor Seminar on progress against its long-term strategy... Read more
Rio Tinto has proven the effectiveness of its low-carbon iron-making process using ores from its mines... Read more
Rio Tinto, BHP and Fortescue are launching an innovative pilot programme aimed at helping to eliminate... Read more
Leading UAE steel pipe manufacturer and exporter, AJ Steel, has signed an agreement with the integrated... Read more
Fertilizers Europe has welcomed the recognition of the European Commission that urgent and targeted... Read more
The National Grain and Feed Association (NGFA) in the USA and 192 other members of the Agricultural... Read more
Global miners BHP and Rio Tinto have formed a partnership agreement to accelerate the development of... Read more
Trafigura, a market leader in the global commodities industry, has entered into a USD800 million five... Read more
Cargill’s metals business and Blastr Green Steel AS, a developer of decarbonized steel supply,... Read more