Pacifica Foods was at the matching session for SPRING Singapore's Collaborative Industry Projects(CIP). So here's a little about the initiative, which is rather exciting, and a potential game-changer for Singapore's food industry.
Many companies in the food service industry are facing problems with labour supply, and scaling the business. What this CIP initiative does is to encourage companies to offload some of the burden, and in the process, freeing themselves up to focus on more innovative menus, improving productivity, and to scale better.
SPRING is encouraging companies to tie-up and streamline their businesses by outsourcing part of their production work to food manufacturers, whose businesses are all about producing ingredients efficiently, and can help with scaling of business, by reducing cost of production, cost of hiring production staff, and reducing time taken to prepare the ingredients.
SPRING is going to support this initiative by allowing interested food service companies to tap on their Capability Development Grant, which can support up to 70% of qualifying costs (ie - Cost of the product being acquired from the Food Manufacturer), for one year, up to $150,000.
We at Pacifica greatly appreciate SPRING's support for this as it forms a core component of our business strategy, which is to provide customized powdered ingredients for our customers!
Here's to a bright future for Singapore's food industry! Cheers everyone!