Digital publisher DayDayCook has announced plans to launch an accelerator program. The initiative will support food tech startups within Hong Kong. The Good Food Accelerator Program is designed to grow the food tech sector, bringing world-class products to market. It is powered by the Good Food Movement and endorsed by Cyberport.
DayDayCook has selected eight startups to enroll in its inaugural accelerator program. Companies will be offered opportunities to garner new contacts and resources vital to bringing products to market successfully. Improved access to relevant investors is a significant benefit for the startups as well. Companies are selected for their allegiance to key sector interests including alt-protein, food as medicine, and product innovation.
Evolving the ecosystem
The new accelerator program is designed to build a community of innovative companies. “The Good Food Accelerator Program’s mission is to build a leading food tech ecosystem in Hong Kong, and kickstart a stream of commercially-viable products and innovative solutions,” said Norma Chu, CEO of DayDayCook. “By focusing on Hong Kong, the program will make a global splash as it carries out the ambition of becoming a key innovation hub for Food Tech talents worldwide. Hong Kong has increased its focus on health sciences in recent years and China is committed to becoming carbon neutral by 2060.”
The program is bolstered by a network of big names. Investment partners include C Ventures, Gobi Partners, and Vectr Ventures. In addition, KPMG and CJ Foods are onboard as corporate partners, amongst others. To round out the resources on offer to participants, a panel of founding advisors has been compiled. Investment expert Deng Feng and Nestlé board member Eva Cheng feature prominently.
A blend of mentoring, advice, and resource access, the accelerator aims to give startups the best chance at global success.
Class of 2021
The following eight startups have been named in the first accelerator round:
Hong Kong-based Farmacy creates smart indoor farms that can be mobile and maintained remotely. They make use of small spaces within highly urbanised areas.
2. Good Food tech
Innovators of plant-based pork products including meatballs and burger patties in Hong Kong.
A Singapore-based startup using food tech to fight diseases such as diabetes. Products can be added to food to lower their glycemic index, amongst other benefits.
4. 70/30 Food Science & Tech
Food delivery innovation from Shanghai. Plant-based takeaways are being designed to meet low price points but high flavour standards.
5. Aqua Farm
A Hong Kong-based AI-driven data management company. A support system for aquatic product manufacturers.
6. Geb Import Technology
A biotech company in Hong Kong cultivating microalgae as an alternative to meat. Products are earmarked as a future superfood.
7. AllKlear Health
Creators of a “detox future salad”. A future foods innovator with a focus on easy nutrition, based in Hong Kong.
A Hong Kong craft beer outfit that uses waste bread from bakeries. Breer is investigating food upcycling as a viable means of production.
Expanding Hong Kong’s reach
Hong Kong has already produced global food tech success stories, in part thanks to the support of accelerator programs like Brinc, which launched its foodtech program back in 2018, Asia’s first at the time. Green Monday and Avant Meats are notable examples of homegrown startups that have made their name on the global stage.
Green Monday has found reach across the world through OmniFoods, its flagship alt-protein brand. OmniPork is now sold in the U.S., UK, Australia and more. Meanwhile, Avant Meats announced it is building a pilot factory in Singapore. The premises will allow for further R&D of its cultured seafood.
Lead image courtesy of Pexels.