Goyang, South Korea - Goyang Special City has taken a significant step in expanding its global network within the food industry by entering into a memorandum of understanding (MOU) with Innovate 360, a prominent Singapore-based organization dedicated to supporting food and agriculture startups.
The MOU was officially signed on April 17th during a visit to Singapore by Goyang City Mayor Lee Dong-hwan. The agreement outlines a collaborative framework focused on facilitating the sharing of business strategies for food startups, providing access to expert mentorship, and fostering opportunities for collaboration within the broader food industry network.
Innovate 360, established in 2018, stands as Singapore's pioneering incubator and accelerator specifically catering to the food sector. With the backing of Enterprise Singapore, a government agency, Innovate 360 has been instrumental in providing comprehensive programs, investment avenues, seed funding, and mentorship to burgeoning startups in the food and agriculture domains.
Mayor Lee Dong-hwan expressed optimism regarding the partnership, stating, "This collaboration is expected to accelerate the support for startups in the food and agriculture sectors within the Goyang Economic Free Zone." Echoing this sentiment, John Cheng, founder and CEO of Innovate 360, remarked, "We hope this partnership will serve as a foundation for entering the Asian market and promoting the growth of startups in both our countries."
During his visit, Mayor Lee also toured FoodPlant, Singapore's first shared facility for small-scale food production. He received a detailed briefing from Professor Lim Bee Gim on the crucial support required by entrepreneurs in the food industry. Professor Lim conveyed enthusiasm for potential technological exchanges and joint projects between the two cities, affirming, "We are ready to support with technology, know-how, and knowledge."
Prior to the MOU signing, on April 16th, Mayor Lee visited the National Cancer Centre Singapore (NCCS), where he met with CEO Professor Lim Soon Thye and Deputy CEO Dr. Tan Bin Tean. Discussions during this meeting centered on strategies for fostering the growth of Goyang City's bio and medical industries and exploring avenues for collaboration with international medical institutions. NCCS is a leading institution within SingHealth, Singapore's largest healthcare group, encompassing a wide array of specialized medical centers and research facilities.
Inspired by FoodPlant's publicly-driven startup support model, Mayor Lee articulated his ambition to establish similar food-tech related infrastructure within the Goyang Economic Free Zone, envisioning a synergistic environment for mutual growth. This strategic alliance with Innovate 360 and the insights gained from Singapore's established food innovation ecosystem underscore Goyang City's commitment to nurturing its food industry and fostering international partnerships for sustained growth and innovation.
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