Helping Australian businesses grow and access growing Asian markets
An exclusive program developed by leading agrifood innovation systems design firm Food Futures Company in partnership with global agrifood tech impact accelerator GROW to help Australian scale-up ventures capture the opportunity in Asia by landing and launching in Singapore.
The ASEAN region is emerging as a major hub for agrifood and aquaculture innovation and there are significant opportunities for Australian entrepreneurs to be successful exporters of advanced agrifood tech and innovative food solutions. However, due to issues of fragmentation and complexity combined with the impact of COVID, Australian businesses looking to scale are looking for support to gain traction.
The GROW2Asia program has been designed to provide targeted and bespoke support for entrepreneurs who want to grow their business in Asia by first validating their fit for the market and secondly co-developing a roadmap to establish their in-market presence.
MEET THE COHORT
Learn all about the teams taking part in the
2020 ideas to business program
This world-class program will provide access to Food Futures and GROW’S extensive network of mentors and experts; research partners; and corporate customers both locally and across the globe. The program is divided into 4 Phases to allow ventures to assess their readiness and then manage their global expansion
Goal Setting &
A series of virtual workshops to elaborate on the benefits and opportunities of trading in the region using Singapore as a gateway. Participants will be provided with tools to assess their readiness to launch into the region.
Masterclasses, interactive workshops, on-line resources and one-on-one coaching focused on building roadmaps for product development & adaptation to Asian market; in-market customer validation; legal and regulatory requirements to establish a business in the region.
Scaling in Asia and
One-on-one coaching, mentoring and expert sessions focused on: go-to-market strategy; value chain optimisation; customer acquisition; local partnerships; and raising capital. Includes introductions to investors, and service providers; participation in pitch events.
Individual, tailored support to build a local team and establish business structures. It is anticipated that this phase will include in-person visits by the founders. However, if this is not possible, the Food Futures-GROW team can provide appropriate in-country support.
Asia represents one of the fastest growing markets in the world, with 66% of the global middle class expected to reside in the region and a population expected to reach 5 billion in 2050 that will account for 60% of global consumption. To meet this demand, governments across the region are aggressively pursuing strategies to ensure greater food security and this includes actively encouraging agrifood tech and innovative food entrepreneurs to help grow the local ecosystem by establishing themselves in the region.
The GROW2Asia program will officially kick-off in the 2nd half of 2021. We welcome applications from agrifood tech and innovative food businesses involved in (but not limited to) the following areas:
Health & wellness products & services (eg personalised nutrition; bioceuticals)
Food traceability and provenance
Sustainable food production systems
Controlled environment agriculture
We also encourage entrepreneurs in the Australian Native Ag+Food sector to apply.
Expressions of Interest are now open and we will be holding information sessions in April-May (book in here).
FREQUENTLY ASKED QUESTIONS
1. How much does it cost to participate?
The overall value of the program is $65K with participants required to contribute $25K. We work with participants to raise funds to cover their participation, or alternatively negotiate a deferment option against future earnings.
2. Do you take equity in my business?
We only require an equity position if we invest directly in the business.
3. How do I apply to participate in the GROW2Asia program?
Complete the Expression of Interest form available here. If we believe the program is the right one for you, we will arrange a call to discuss next steps.
4. What is the selection process?
We have a 2-step selection process which includes: 1. Expression of Interest and phone interview 2. Full application including provision of pitch deck. Applicants are invited to complete step 1 at any stage.
5. Is the information in my application treated as confidential?
We will not distribute your application externally during the application process. However, please do not submit any business plans or trade secrets at this stage. Your application should only include information you are willing and able to share.
6. Who owns the IP developed by my business during participation in the program?
Intellectual Property created by you is retained by your business.
7. Do I have to be available to travel to Singapore to complete the program?
COVID permitting, we encourage founders to be available to travel to Singapore during Phase 4 of the program (not necessarily for the entire 8-10 weeks). However, we can accommodate alternative options if this is not possible.
8. Are there travel funds available to participate in the face-to-face aspects of the program?
No, not at this stage. However, wherever possible we support our participants to seek funding to cover the cost of the program including travel.
9. Do you invest directly in the businesses in the program?
In some cases, and by mutual agreement, we will invest directly in the businesses participating in the program. We will request right of first refusal on your acceptance into the program on terms to be specified.