Singapore’s 30 by 30 plan meets red tape

This week, On the Rise takes stock of the city-state's agritech plans and maps out opportunities in Southeast Asia’s cybersecurity landscape. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. Written by Nikita Puri Journalist Hello {NAME} How many people does it take to set up a farm in Singapore? Just one, but they have to be prepared to chase eight government agencies. This leads us to a first-generation farmer’s story - we’ll call him Pan. Pumped up about Singapore’s ambitious “30 by 30” plan, which was announced in 2019 and aims to meet 30% of Singapore’s nutritional needs locally [by 2030]( Pan wanted to set up a roof-top farm. What followed was months of jumping over bureaucratic hurdles to secure regulatory approval. And what’s worse, Pan’s story isn’t a one-off, as my colleague, Tian Wen, details in today’s Big Story. Red tape is just one of many challenges for Singapore’s agritech sector and it seems like the city-state’s farms may need more of a helping hand than they currently have if they are to meet the country’s food security goals. This is undoubtedly a time-consuming process and an early intervention could work wonders. Early intervention is also applicable to another topic we are covering today: cybersecurity. Seriously, take a minute to consider if you’ve ever received as many potential phishing emails as you do today. Thankfully, Southeast Asia’s cybersecurity companies have stepped up to the challenge. -- Nikita  --------------------------------------------------------------- THE BIG STORY [Singapore’s agritech vision hits speed bumps]( Progress toward the city-state’s 30 by 30 plan is slowed by red tape and rising cost factors that threaten to push farms out of business.  ---------------------------------------------------------------  MAKING WAVES [Mapping out SEA’s digital defenders]( The cybersecurity sector has seen increasing investments over the last five years, with Singapore taking the crown as the regional hub. While this could mean a more competitive arena in the country for cybersecurity startups seeking to grab a foothold, it could also make Singapore an attractive stop for investors in the sector.  --------------------------------------------------------------- FYI 1️⃣ [To take or not take VC money: Indonesia’s profitable bootstrapped startups at a crossroads]( Sustainability is becoming an important investment criteria for many VCs, but profitable startups may prove a tough nut to crack. 2️⃣ [Co-living firms rise above Singapore’s rent hike]( While soaring rents continue to hurt locals and expats alike, co-living firms are doubling down on expansion plans to make the most of a downturn.  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ Tech giant Tencent’s topline woes [have extended]( into the second quarter of 2022 amid Beijing’s ongoing regulatory crackdown on gaming. Revenue for the quarter came in at around US$19.7 billion, down marginally from the previous quarter’s US$20.1 billion. This is reportedly the company’s first revenue decline since it went public in 2004. 2️⃣ HR firm HiBob [has raised US$150 million]( in its series D funding round, led by growth investor General Atlantic. In addition to opening more offices, the company also plans to grow its presence in Singapore via new hires and expanding product capabilities. 3️⃣ US-based Eat Just, the company behind plant-based egg substitute Just Egg and cultivated meat brand Good Meat, [has bagged US$$25 million]( from Alibaba-backed C2 Capital Partners. 4️⃣ SunGreenH2, a Singapore-based cleantech company, [has raised US$2 million]( in a seed funding round led by deeptech-focused VC firm SGInnovate. 5️⃣ Indonesia-based Kabina, a construction startup focused on sustainability, has raised an undisclosed amount of [seed funding]( in a round led by East Ventures. Kabina joins a growing list of proptech companies in the latter’s portfolio.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you next week! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2022 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894