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DayDayCook and Brinc pump US$10m in food tech companies that promote sustainability

DayDayCook and Brinc pump US$10m in food tech companies that promote sustainability

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Local content-to-commerce food brand DayDayCook and global venture accelerator Brinc have committed to invest US$10m in food technology companies that are developing the sustainable, animal-free, global food ecosystem and scaling commercialisation in Greater China and Asia.  Both brands share a dedicated mission to tackle global food sustainability goals by developing sustainable food systems and addressing food security issues in China and Asia.

The partnership will see the investing in and support of 45 companies over the next three years through the Good Food Accelerator Programme, operated by Brinc. This alliance is further bolstered by Brinc’s US$500,000 investment in DayDayCook, solidifying a long-term collaborative effort to support game-changing startups.Startups accepted into the programme will receive an initial investment of a minimum of US$200,000 and will have access to Brinc and DayDayCook’s network of later-stage investors during and post programme for potential follow-on funding.

The key investment themes of the programme include alternative protein, functional and novel ingredients, sustainable packaging, food supply chain innovation, and consumer AgriTech solutions. Companies with commercial-ready products and services that are actively contributing toward global food sustainability goals will be prioritised. The programme will be delivered virtually and will accept applications from commercially-ready startups located in or looking to enter the Greater China or Asian market.

The core directive of the Good Food Accelerator Programme is to help food tech companies meaningfully commercialise in Greater China and Asia, leveraging the online and offline distribution channels of DayDayCook’s core business as well as Brinc and DayDayCook’s combined network of food corporations, hospitality groups and investors in the region. With Brinc bringing eight years of accelerator programme design and operational experience to strengthen the Good Food Accelerator, selected startups will also have access to DayDayCook’s commercial team during the programme to explore opportunities for business collaboration.

Manav Gupta, founder and CEO of Brinc, said: “China’s five-year agricultural development plan sets out an agenda to establish a sustainable food supply system nationwide. Brinc’s Food Tech accelerator expertise, investor and mentor network along with DayDayCook’s wide reach, commercial network and distribution reach in Mainland China will take us a bold step closer towards attaining this goal. "

“We are excited to support more founders who are looking to scale alternate protein products and deep technologies from around the globe to the world’s most populous market while further developing a growing food tech ecosystem across Mainland China and the Greater Bay Area. Addressing deep-rooted inefficiencies in our regional and global food systems, creating a sustainable food supply chain, plus tackling food security issues all in all help mitigate against the growing effects of climate change — which is the need of the hour and our lifetimes,” Gupta added.

Norma Chu, founder and CEO of DayDayCook, said: “The Good Food Accelerator Programme’s mission is to build a leading food tech ecosystem in Hong Kong. We are thrilled to partner with Brinc to welcome our second cohort of startups, to accelerate their growth, and to kickstart a stream of commercially-viable products and innovative solutions. By sourcing innovative startups from the Greater Bay Area, Southeast Asia and areas beyond, the programme will make a global splash as it carries out Hong Kong’s ambition of transforming into a key innovation hub for food tech talents worldwide.”

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