Here is Why this Asian Accelerator is Cashing in on China's Sustainable Food Ventures
Silicon Valley's JUST Partners with Asia's First Food Tech Accelerator to Fund Sustainable Food Ventures for China
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur Asia Pacific, an international franchise of Entrepreneur Media.
If you're planning to open a sustainable food venture in Asia, China is your place. The Hong Kong headquartered; Brinc has announced a new entrepreneurial programme in partnership with Silicon Valley's JUST, which will help startups that have cutting-edge solutions for sustainable food.
The announcement was made at the 2018 Food's Future Summit in Hong Kong. The company will invest over $500,000 HKD per team, which means 10 teams, two cohorts per team. The programme will not just provide the financial access, but it will extend value beyond cash with access to learning platforms, mentor networks, follow-on funds, service arms, access to the massive Chinese market, and more. While the participant founders can use Brinc's network, they can also make use of JUST's world-class toolkit of over 350k patterns of plant-based properties with machine learning algorithms that founders can use to design and create their own prototype.
According to a press release, participating founders will be able to finalize their product's unique value proposition (UVP) by leveraging Brinc's network to get real-time insights from target customers. The programme will help entrepreneurs with partnerships, facilities and processes to support throughout critical product development and customer delivery phases.
Moving Towards Sustainability
The government of China has planned to cut 50 per cent meat consumption by 2030, which is giving rise to the startups with plant-based food ideas. "We're thrilled to partner with Brinc to help grow a new crop of food founders in the world's most populous region: Asia," says Josh Tetrick, chief executive officer and co-founder of JUST.
Brinc is offering comprehensive programs since 2014 for networked devices, connected hardware, drones and robotics. Speaking about the ulterior motive of partnership, Manav Gupta, CEO and founder of Brinc says, "Delicious, high-quality, affordable food options that don't require animal ingredients will transform the world and we're excited to continue Brinc's philosophy of changing the way we feel, move, live and eat while making a larger, lasting impact on the environment and ourselves."
Lately, China is moving forward to without meat and dairy consumption by taking stringent steps to reduce the environmental impact on the planet. Already competitive plant-based products market of China is encouraging a lot of startups across the globe to explore it further.
China has also planned a first of its kind festival in Beijing, which will encourage the youth to be a part of veganism and protect the planet with dietary habits.