Cargill opens digital business studio in Asia

Minnesota — Cargill is establishing its first digital business studio in Asia in collaboration with the Singapore Economic Development Board (EDB).The studio’s mission is to drive innovation for the Asia-Pacific food and agricultural sector by providing local inventors with capital that commercialise Cargill solutions.

Cargill will build a portfolio of at least five new firms in Singapore through the three-year relationship. The entrepreneurs will concentrate on addressing urgent industry concerns, such as improving smallholder farmers’ access to market data and developing more effective, transparent, and affordable food supply solutions.

Cargill is now hiring seasoned business owners who are passionate about finding solutions to some of the most pressing issues affecting the world food and agricultural system to serve as the leaders of these new businesses. Entrepreneurs will have access to capital investments, company management strategies, and innovative techniques that have been successful in other markets.

Ross Hamou-Jennings, chair of Asia Pacific at Cargill, stated, “Cargill is combining its deep industry knowledge with the speed and agility of a startup approach to create the digital business studio. Together, we want to find creative solutions for some of the most difficult food and agricultural problems in the area.

We are happy that Singapore is recognised for its status as a thriving agri-innovation hub. to work together on this project using EDB. We are certain that the digital business
studio will promote audacity, imagination, and innovation to improve the sustainability of the area’s food and agriculture industry.

The collaboration expands on EDB’s initiatives to strengthen Singapore’s corporate venturing movement by encouraging firms to launch new ventures with the same nimbleness as a startup. To stay up with the disruptive industry’s rapid speed of change, organisations invest in growth sectors outside of their main industries Choo Heng Tong, executive vice president, New Initiatives and Innovation, EDB, said, “We are thrilled to cooperate with Cargill in establishing Singapore ventures that have the potential to become internationally leading agri-food firms.

“Cargill’s strong subject experience, client networks, and global size, along with Singapore’s access to important markets and R&D capabilities, can give major benefits for these initiatives. These businesses will lead the way in innovation, enhancing Singapore’s work on cutting-edge agri-food solutions and supporting efforts to increase the world’s food security.

In close collaboration with clients, Cargill will nurture and scale revolutionary businesses in the digital business studio. It enables a wider scope for digital innovation, introducing fresh approaches to address the shifting demands of the food and agricultural industries.

Cargill For instance:

Farmers in Asia confront a variety of difficulties, including uneven agricultural yields, limited visibility, a lack of access to credit or financing, and continually fluctuating crop prices. Digital solutions are required to play a significant role in farmers’ livelihood by increasing their productivity and profitability in order to feed Asia’s growing population and handle other issues.

In order to obtain and get the materials they require from a dispersed base of suppliers, small to medium-sized restaurants and shops in Southeast Asia rely heavily on manual methods. New digital developments have the potential to improve the consistency and adaptability of the ingredient supply chain by enabling direct access to a centralised business-to-business food ordering system.

According to Eric Parkin, global digital business studio head at Cargill, “this is a unique paradigm where entrepreneurs can disrupt the sector and make enduring impact on a regional and even global scale.” The chance to develop solutions that enhance lives and sustain the planet every day is revolutionary.

The Cargill digital business studio expands on the company’s current innovation investments and commitment to Asia, where it supports farmers and food producers in overcoming their most difficult obstacles and seizing new possibilities.

In Asia, Cargill has four innovation hubs in Singapore, Gurgaon, Beijing, and Shanghai. Cargill makes use of the world-class knowledge it has in animal protein, refined oils, sugars, starches, cocoa, textural solutions, and distinctive flavours at these facilities.

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