“In land-scarce Singapore, these companies can create the protein we need without the constraints of needing lots of land,” says Cheng, who is a 2020 Gen.T honouree. “These technologies also mitigate the potential for animal-to-human disease transmission as everything is grown in a sterile and controlled environment, reduces our carbon footprint and adds to food diversity.”

Some startups the incubator has worked with include Asia Insect Farm Solutions, which uses protein-rich crickets to replace flour, so consumers won’t even know they are eating insects. Other sustainability-focused food innovators include Shiok Meats, which produces lab-grown seafood that does not need to be farmed; TurtleTree Labs, which produces milk not from cows but stem cells; and Gaia Foods, which produces cell-based meat.

Cheng says, “With supply chains disrupted due to Covid-19, the need for food innovation has increased the emphasis for alternative protein, urban farming, products with longer shelf life, and health and immunity-boosting foods.”

Franklin Innovation Fund

The Franklin Innovation Fund invests in companies worldwide leading in innovation and harnessing new technologies and ideas that are emerging in the dynamic global economy. It focuses on areas such as global e-commerce, genetic breakthroughs, intelligent machines, new finance and exponential data.

For more information on Franklin Templeton's investment philosophy and its funds, visit franklintempleton.com.sg.

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