Brinc will invest over $500,000HKD per team (up to 10 teams, two cohorts per year) and will gain access to a pipeline of discoveries from JUST, a Silicon Valley food innovator backed by Li Ka-Shing, Temasek, Mitsui & Co., China Construction Bank and other institutional and individual investors in Asia.
The CEOs of Brinc and JUST shared the news at the Food’s Future Summit in Hong Kong on Friday.
Brinc said the the Food Technology Accelerator would extend value beyond cash with access to learning platforms, mentor networks, follow-on funds, service arms and access to the massive Chinese market, and
Participating founders will be able to rapidly develop prototypes and new products by tapping into select elements of JUST’s first-of-its-kind toolkit, comprised of raw materials and proprietary data from the plant and animal kingdoms.
Finished goods resulting from the collaboration will display a “Made JUST” logo.
The firms said in a statement: “On the path to commercialisation, founders will be able to finalise their product’s unique value proposition (UVP) by leveraging Brinc’s partner’s networks to gain real-time insights from target customers.”
These customer learnings will enable rapid iteration of food prototypes tailored to the local palate through which founders can refine their branding, propositions, price points and product formulations.
“Over the past few years, we’ve invested in improving the food system through IoT and drone applications in agricultural technology, but the launch of this programme brings our efforts one step closer to the consumer,” said Manav Gupta, CEO and founder of Brinc.
“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.”
Josh Tetrick, CEO and co-founder of JUST, added: “The task of building a more sustainable food system is so enormous that it requires the energies of a generation. Working with mission-driven partners who share our goal of facilitating large-scale, permanent adoption of healthy and more sustainable food is the only way we succeed.”
JUST recently launched its plant-based, protein-rich JUST Egg in Hong Kong and plans to expand its availability to more cities across Asia.