Food Tech Start-Up Challenge [Stayed Tuned for the Results]
Tuesday, January 10th, 2023 | 1325 Views
New Industry Challenge Launched to Support Scale Up of Food Tech Start-Ups
Visit https://nurasa.com/food-tech-start-up-challenge or follow Nurasa on LinkedIn for regular Challenge updates. The deadline for Open Call submissions is now closed.
Open to start-ups in the global agrifood technology sector, the Challenge invited pitch submissions from entrepreneurs specialising in either of two particular areas: the optimisation of alternative proteins, functional foods, or creation of novel product formats in the alternative protein or functional foods space. The deadline was Saturday, 11 February 2023, 11:59 pm SGT.
In a collective effort to accelerate the production and commercialisation of sustainable foods in Asia, Nurasa, A*STAR’s Singapore Institute of Food and Biotechnology Innovation (SIFBI) and Trendlines Agrifood Innovation Centre (AFIC) launched an Open Call for submissions to the inaugural Food Tech Start-Up Challenge, and invited future changemakers to make waves in the food-tech landscape.
Of particular interest to the Challenge’s stakeholders will be alternative protein start-ups with technologies that enable the production of animal-free meat and have the potential to overcome the key issues of current plant-based meat — taste, texture, nutrition and price.
Functional food products promote health benefits in addition to possessing nutritive value and includes food that has been fortified, enriched or enhanced. A sub-sector of functional foods, which will be of interest to the Challenge’s stakeholders, is the so-called “silver diet.” The “silver diet” refers to food products that are modified in taste, texture, nutrition, and ease of preparation to better cater to the specific needs of older adults, defined as individuals aged 65 years and older.
Selected finalists will be invited to proceed to the “Bench-Scale Make” or product development phase. They will benefit from being paired with seasoned industry mentors who can offer advice and insights, access to an extensive network of agrifood ecosystem contacts via regular networking opportunities, as well as a series of start-up workshops organised by Nurasa and partners, with curated sessions encompassing four key business skillset areas: Product & Customer Development, Brand Storytelling & Marketing, Operations and Financing.
These finalists are expected to have a first prototype ready for tasting by the end of the product development phase in the lead up to the final Pitch and Tasting Day in June 2023.
The winning start-ups will be judged on the following criteria: Product Quality, Feasibility, Market Potential, Innovativeness and Capability.
The final winners of the Challenge will be awarded, among other prizes and incentives, early access to cutting-edge technologies and tools at Nurasa’s Food Tech Innovation Centre (FTIC) as well as the opportunity to work closely with industry leaders to scale up the development of their novel, animal-free food products to pre-commercialisation stage.
Nurasa’s FTIC, scheduled to be operational in the first half of 2023, provides a lab to pilot-scale research and product development infrastructure for sustainable food companies. It is a 4,000 sqm pilot-scale food grade facility at Biopolis, Singapore’s innovation hub, operated in partnership with A*STAR’s SIFBI. The facility provides food start-ups with access to two key pilot-scale equipment: High-Moisture Extrusion (HME), and Precision Fermentation. In addition, shared labs and co-working spaces, private suites to set up small research labs or offices, demonstration and test kitchens and a large events space, facilitate an atmosphere of engagement, innovation and collaboration. They will also gain access to A*STAR’s resources in Biopolis — which include sensory booths and a larger kitchen space — enabling easy access for companies to find fit-for-scale and fit-for-purpose equipment.
The Food Tech Start-Up Challenge comes at a time when conversations are ramping up around the need to further build capabilities and resilience in the region’s agrifood ecosystem to address the ongoing challenges to food supply. This includes climate change, global political tensions, and insufficient food to sustainably feed the expanding world population that is expected to reach 9.8 billion by 2050.
Nurasa Client Development Manager, Jolene Lum, said, “At Nurasa, we are focussed on accelerating the commercialisation and adoption of sustainable foods across Asia. As part of that, we work closely with industry partners and promising food tech start-ups to ensure that the taste, texture, nutritional value, and price of these sustainable foods match consumer demands — simply put, we all want to eat food that excites us.”
“But we recognise the pain points experienced by start-ups in scaling up and commercialising their products. With the Food Tech Start-Up Challenge, we hope to support entrepreneurs in overcoming these barriers and provide them with an effective platform to accelerate their growth and be a key contributor to Asia’s vibrant food tech landscape. We invite food tech start-ups with an exciting and viable idea, no matter where they are in the world, to join!”
SIFBI’s Corporate Strategy and Business Development Director Dr Michelle Ngiam, said, “To meet Singapore’s ’30 by 30’ goal, that is to sustainably produce 30% of our nutritional needs by 2030, ecosystem partners need to work closely together to build our agrifood industry’s capabilities and capacities — and the Food Tech Start-Up Challenge is one of the ways we are doing so. Innovative start-ups will be able to leverage the state-of-the-art facilities, as well as tap on the agrifood industry insights and scientific expertise by working with the wider ecosystem, with the aim towards translating the latest food technologies into tasty and nutritious food products for consumers and position Singapore as a global agrifood innovation hub.”
“There is a need for concerted action to transition towards a sustainable food system and the best way to materialise it is through partnerships. We look forward to working with emerging innovators to explore creative solutions that can lift the barriers to the adoption of alternative foods in this region.
“Trendlines has been actively involved in the development of the local agri-food ecosystem and we are excited to start a food tech-focused challenge with Nurasa and SIFBI. We believe that participating start-ups will have a lot to benefit from the mentorship, access to equipment and funding support that this challenge will provide,” Mr Anton Wibowo, CEO of AFIC, added.
At Nurasa (formerly Asia Sustainable Foods Platform), we inspire people to embrace sustainable foods that are also tasty, fresh, and nutritious, by accelerating access at scale across Asia. Our work is anchored in a spirit of deep collaboration and innovation. Together with our global network of partners, we provide end-to-end enabler, operator, and investor capabilities that support promising food-tech businesses at every stage of growth – from incubation to commercialisation. Nurasa is a wholly owned company of Temasek. To learn more, visit www.nurasa.com.
About the Singapore Institute of Food and Biotechnology Innovation (SIFBI)
The Singapore Institute of Food and Biotechnology Innovation (SIFBI) is a research institute under the Agency for Science, Technology and Research (A*STAR). SIFBI drives innovation in food and biotechnology, advancing Singapore’s aim to be Asia’s food innovation hub. It supports Singapore’s “30 by 30” goal of boosting local produce capabilities and aims to satisfy the global market’s demand for more sustainably produced foods that are safe, healthy and enjoyed for their sensorial attributes. SIFBI brings together end-to-end research capabilities encompassing biotechnology (discovery of producing strains, genetic engineering, biotransformation), nutrition, food process engineering and cutting-edge analytics under one roof. It collaborates with a wide range of industry partners as well as local and international universities to undertake research in alternative foods and the circular bioeconomy. The institute also drives the development of high value-added ingredients, future foods and new food systems to deliver value in organoleptic qualities and nutrition in a sustainable manner. Learn more at www.a-star.edu.sg/SIFBI.
About The Trendlines Group
Trendlines is an innovation commercialisation company that invents, discovers, invests in, and incubates innovation-based medical and agrifood technology companies to fulfil its mission to improve the human condition. As intensely hands-on investors, Trendlines is involved in all aspects of its portfolio companies from technology development to business building. Trendlines’ shares are traded on the Singapore Stock Exchange (SGX: 42T) and in the United States as an American Depositary Receipt (ADR) on the OTCQX (OTCQX: TRNLY).
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