SATS to invest over $3m in F&B projects, startups

It aims to grow its non-travel food ventures.

SATS Ltd. has committed to invest over $3m in food and beverage (F&B) startups and projects in a bid to grow its non-travel food business.

In partnership with the Economic Development Board, the in-flight catering service provider said it will create and pivot new business ventures “with strong global potential and ability to scale.”

“Projects that exhibit growth potential post-incubation phase will become independent start-ups or be incorporated into their main operations,” SATS said in its announcement.

SATS said it also has started collaborating with local F&B brands like Keng Eng Kee (KEK) Seafood to “introduce them to new market segments.”

EDB Executive Vice President Choo Heng Tong said SATS’ corporate ventures will enable companies to “remain at the forefront of their respective industries, and give rise to the next generation of companies and brands that Singaporeans can be proud of.”

This will also help to create exciting new jobs for Singaporeans—entrepreneurs, makers, and builders, whose craft can be accelerated by tapping on the expertise and assets of a corporate mothership,” added Choo.

SATS President and CEO designate, Kerry Mok, for his part, said corporate venturing  will not only help their company maintain “market leadership” but also “raise Singapore’s status as a food innovation hub.”