3 innovators that are shaping the next stage of food innovation in Singapore

Singapore has been deemed by alternative protein startups such as Next Gen Foods as an ideal place to launch their brand due to it being a global hub for business, communications and finance in general.

Next Gen Foods, which uses its innovative foodtech to develop plant-based foods, has started with its plant-based chicken consumer brand “TiNDLE”. TiNDLE has been recognised as the ‘fastest growing plant-based food brand in APAC’ by Green Queen and have raised $100 million in the largest Series A plant-based meat deal ever according to Forbes Magazine.

 

 

The country has also been recognised as a place where startups in the food industry are able to gain access to MNCs and world-class research facilities. Moreover, Singapore is also seen as an ideal location for testing alternative products in the market due to the high level of education of the general public as well as a growing awareness of the importance of sustainable food consumption choices.

Another recent development within the sector: On June 10th, Eat Just’s Good MEAT hosted the grand opening of the largest cultivated meat production facility in Asia. Several new and exciting developments are taking shape in Singapore’s alt protein industry and in this article, we will be highlighting 3 Singaporean companies: Shiok Meats, Pullulo and Karana, who are taking novel steps in this sector.

 

Shiok Meats

Shiok Meats is the first cell-based meat company in South East Asia, they are using cellular technology to sustainably produce seafood such as shrimp, prawn, crab and lobster.

Despite the remarkable pace of progress made in the past few years, Dr Sandhya Sriram, the Founder and CEO of Shiok Meats states, “We were the first cultivated seafood company in Southeast Asia, so we did face a lot of backlash. The biggest challenge we have moving forward is getting our price down and we are looking to figure out how to produce multiple tons of our product every day and I’m looking forward to that happening in the next couple of years”.  

Shiok Meats continues to overcome the challenges they face each day and is set to launch their first product in the consumer market in 2023.

 

Pullulo

Another company to look for is Pullulo. They are a fermentation-enabled protein ingredient company developing microbial protein for various food applications.  

Their innovative protein is highly nutritious yet affordable, allergen-free, non-GMO, vegan, and Halal and is less susceptible to supply chain disruptions. Many of their products also integrate agricultural by-products, upcycling our waste in the process.

Pullulo is targeting both the alternative protein mass market and the underserved healthcare catering and food services. Their work will be especially beneficial for countries like Singapore which have aging populations and you can find out more about them in this short film.

 

Karana

Karana, dubbed the ‘Asian food brand of the future’, is a plant-based alternative company, creating innovative alternative protein products with meat-like textures using a variety of biodiverse ingredients with an emphasis on jackfruit.  

They have rapidly grown since being founded in 2018 and have launched their delicious products in multiple restaurants in Singapore, Hong Kong and USA. Keep an eye for their new products and expansion plans!

As a VC fund, Big Idea Ventures (BIV), continues to strive to support the next generation of alternative protein startups through direct investments and our accelerator programs.

“Big Idea Ventures is excited about the future of food in Singapore. As the first fund and accelerator focused on alternative protein offering dedicated support and mentorship. Singapore gets stronger every day as the food innovation hub for Asia and the rest of world. If you are a founder of a plant based, cell based, or fermentation-enabled company, there has never been a better time to be starting and growing a food company in Singapore.  Join our Big Idea Food Competition coming up later this year. Let’s work together!” said Andrew D. Ive, Founder and Managing General Partner of Big Idea Ventures.

 

 

The rapid growth in Singapore’s alternative protein industry has been made possible due to the development of an ecosystem of large corporations, government partners and venture capitalists to provide the innovative companies with the support they need to grow.  

Government entities such as the Economic Development Board (EDB) have been supporting companies who have been making a mark in the industry.

Mr Damian Chan, Executive Vice President, Singapore Economic Development Board, notes, “We have focused on making Singapore a global innovation hub for sustainable Agri-food technologies, so as to solve for urban food challenges faced by countries throughout Southeast Asia and beyond. For instance, we are exploring the rise of hybrid products that combine the benefits of plant-based and fermented, or cultivated protein. This is already being applied in local cuisine, such as Good Meat Asia’s satay (bite-sized pieces of cultivated chicken on skewers).”

He adds, “By partnering with companies pioneering nutritious, tasty, and innovative food solutions, we hope consumers around the region will have more options. And as the alternative protein industry grows, there will increasingly be exciting job opportunities to shape the future of food. We will continue supporting companies that are helping the global food industry become more sustainable, affordable, and accessible to global consumers.”

 

This article first appeared on Big Idea Ventures, a venture capital fund with startup accelerators in Singapore, Paris, and New York, investing in and accelerating top performers in the new food space. Learn more.