I remember listening to the opening remarks of Professor Virginia Cha during the launch of Sunway Innovation Labs at Sunway University (iLabs Foundry) in 2018. Cha spoke about “restorative innovation” — an economic model underpinning innovation-driven growth that safeguards our health, humanity and the environment.

Among the intriguing examples she discussed was organic farming, where she highlighted the cost disparity between organic and non-organic bell peppers (a fivefold difference). This made me think: If organic farming methods were the foundation of agriculture practised by our ancestors, why do organic vegetables now carry a price tag that is five times higher?

The answer is that it is common practice for vegetables to be commercially graded based on their appearance; those less visually appealing, though not necessarily of lower quality, are ranked at the bottom. This anecdote serves as a reminder of our organic agricultural roots and prompts a deeper inquiry into what constitutes fair practices in agriculture.

The recent global challenges of climate change, labour shortages and the pandemic have underscored the critical issue of food security, catalysing the growth of agritech start-ups in Malaysia and Singapore. Vertical farming is a noteworthy example but the recent closure of IFFI’s 38,000 sq m mega indoor farm in Tuas, Singapore, has highlighted the sustainability and scalability challenges.

While vertical farming will not completely replace conventional farming, it is expected to fill gaps as climate change leads to more outdoor crop failures. As biotechnology and IoT (Internet of Things) technology develop, costs will likely come down. Still, it will take time and significant effort to offset high operating costs and create a market that understands the values of vertical farming.

Concentrating on high value, premium crops like strawberries in vertical farming has shown some advancement, as evidenced by US-based Oishii Farm, which raised around US$130 million (RM613.35 million) earlier this year. Subsequently, it inaugurated a solar-powered facility (comparable in size to a football field) to cultivate strawberries at a rate of “20x” more to fulfil market demand. However, this development also sparks debate: Are vertical farms only a tool to produce high-grade luxury items, or can they play a more significant, central role in creating a secure food supply by scaling up and lowering the price point?

Not many people know that I graduated with a degree in microbiology and later ventured into corporate venture capital. Still, I’ve always had a deep passion for regenerative farming (soil microbiology was my favourite subject!). With this bias, I always believe regenerative farming is a long-term solution that provides healthier agriculture products to people of all economic backgrounds, making pesticide-free agriculture products accessible to all.

The documentary Kiss the Ground sheds light on the significance of regenerative agriculture and its role in restoring healthier soil for the planet’s health. What struck me was its emphasis on the hurdles faced in persuading farmers to join this initiative, pointing out the necessity for joint efforts from scientists, farmers, environmentalists and policymakers — a global challenge in innovation adoption for regenerative farming. Achieving meaningful change is a resource-intensive process that spans years. Although regenerative farming isn’t unfamiliar to most traditional farmers, convincing them to modify their farming techniques or behaviours poses a considerable challenge.

Start-ups are developing advanced microbes to enhance soil health for regenerative farming. Yet, such changes often demand initial investments and patience to witness outcomes that could, directly and indirectly, impact their economic well-being. I believe this same situation will happen to some biotech companies offering planet-friendly “pesticides” through technology such as genomic modification.

Nevertheless, amid these challenges, the emergence of home-grown Malaysian biotech solutions provides hope. Companies like Qarbotech and Plantenesis are pioneering the development of compounds and biostimulants that enhance plant growth and health without harmful chemicals.

Penetrating the market remains a daunting task, compounded by the niche nature of the business and the substantial investment required for research and development. Despite this, any biotech company that can establish a solid business model promises stability in a turbulent industry. Indeed, there may not be a better time than now — the health and environmental hazards paired with increasingly restrictive regulations for conventional pesticides are making biostimulants and biopesticides even more attractive from a policy standpoint, and the rising costs of traditional pesticides are making them increasingly complex to sustain.

RegenX, a regenerative farming company based in Singapore, recently received a pre-seed investment of US$500,000 from Wavemaker Impact and is tackling these challenges head-on. Through the RegenX Flywheel, they collaborate with smallholder farmers, assisting in these transitions with education and other essential support. This initiative also features a platform enabling global purchasers to buy “clean” agricultural products directly from regions practising regenerative farming. This approach promises higher profit margins for these farmers. It incorporates a data platform to consolidate and display all relevant information concerning farmers’ transitions, carbon in-setting, farmer living standards enhancements and soil health.

As we navigate the complexities of food security and the role of technology in addressing it globally, it becomes evident that a multifaceted approach is essential. Technology and human intervention are crucial, from enhancing soil health and integrating technology into farming practices to innovating within the agricultural value chain. Each step moves us closer to a more sustainable and equitable food system. While this overview highlights critical aspects, the broader value chain and agritech landscape — including alternative proteins and sustainable seafood — deserves significant attention.