Brinc and Enterprise Singapore partner to launch a new programme to support Singapore-based FoodTech startups with entering the Chinese market.
Brinc, a leading Hong Kong-based venture capital firm has partnered with Enterprise Singapore (EnterpriseSG), a government agency championing business development in the region to launch the Food Technology Program. As part of part of EnterpriseSG’s Global Innovation Alliance (GIA), this new initiative will help Singapore-based food technology (FoodTech) startups access the lucrative mainland China market through educational content, network connections, and advisory services.
The programme will be delivered virtually and will run on a rolling basis, with startups participating in cohorts of two-to-three per intake. This structure allows for hands-on, tailored support to each startup. The first cohort is expected to start in May 2023, and applications are now open for interested parties.
Over a period of 12 weeks, participants will gain access to Brinc and EnterpriseSG’s extensive networks including potential commercial partners such as Chinese food brands, hospitality groups, restaurants, and grocery stores. Additionally, participants will receive education on go-to-market and commercialisation best practices, importability, regulation, pricing, market sizing, and customer discovery.
The programme offers further support to startups with their market entry by providing the opportunity to work out of Brinc’s Shanghai office. This will enable startups to connect directly with potential customers and partners.
The mentors and partners supporting the programme have a strong track record of helping foreign food brands such as Danone, Tindle, and Cacaolat. enter the Chinese market and commercialise through online and offline distribution channels.
Notable startups within China’s alternative protein space include Brinc portfolio companies CellX and Haofood. Hong Kong players such as Green Monday, Beyond Meat, and Eat Just have also entered the market to capitalise on the country’s US$1.96 billion protein market.
Manav Gupta, the Founder and CEO of Brinc, believes that mainland China’s massive consumer population presents a huge opportunity for foreign food technology companies and emphasised the importance of understanding local consumer behaviour, taste preferences, and sensory expectations to be successful in the region.
Eugene Toh, Director of Food Manufacturing and AgriTech at Enterprise Singapore, added that Singaporean FoodTech startups have the potential to scale beyond the local market with the right collaborations.