247 Job News Saifudin Hidayat: Biotech firms say their goodbyes to Singapore

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Selasa, 26 Julai 2022

Biotech firms say their goodbyes to Singapore

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Biotech firms say their goodbyes to Singapore

When I lived in London, I tried to go vegan for a month. I wanted to see if I could change my habits for the sake of living a greener and healthier life.

Surprisingly, I found it extremely easy - supermarkets stocked a wide variety of alt meats, milks, and cheeses at relatively reasonable prices.

However, when I went back home to Southeast Asia, these options were rarely available, and if they were, they would be double or triple the price.

So it wasn’t a shock when I found out how difficult it is for alt-meat companies to prosper in the region.

In this week’s Big Story, my colleague, Nikita, explores the less-than-favorable conditions of Singapore’s emerging biotech industry.

Regardless of the government’s regulatory support, Singapore-founded biotech firms such as Sophie’s Bionutrients and TurtleTree have decided to move their headquarters abroad after hitting some roadblocks for growth in the country.

These problems range from a dry talent pool, limited access to energy to power their production plants, and the smaller market demand for their products. More on this in the article.

-- Shadine

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