Horizon Ventures will invest with Brinc’s new Scaleup Program, in order to help early-stage firms grow throughout Asia. The cross-border project is set to run between Singapore and Hong Kong.
Under the program, the accelerator will provide startups access to food scientists, retailers, manufacturing and distribution partners, as well as facilities and resources. They will also be connected to Brinc and Blue Horizon Ventures’ network of investors, commercial partners, industry experts, and mentors.
Brinc chose Singapore because of its government’s support and regulatory framework and Hong Kong for its ease of access to capital and proximity to China.
Foodtech expansion, support and innovation
Three key objectives have been outlined for the new Scaleup Program, including:
- Helping startups expand and plug into commercial opportunities across Asia Pacific.
- Support startups that have recently graduated from seed-stage accelerator programs
- Help drive global food systems innovation through technology.
The two firms will also team up to invest a minimum of US$250,000 in seed-stage startups. This will extend capital to companies invested through Brinc’s flagship Food Tech accelerator in Hong Kong and its China Alternative Protein accelerator in Shanghai, which is backed by LeverVC.
Since being founded in 2014, Brinc said it has invested in over 200 companies. Out of that number, 30 are foodtech firms working on:
- Alternative protein
- Cellular agriculture
- Other upstream technologies