GROW2ASIA
TM
FUTURE PROTEIN PROGRAM
Supporting Australia's future protein businesses capture the opportunity in Asia
Launch your sustainable protein business into Asia with the GROW2Asia Future Protein Program
An exclusive program developed by leading agrifood innovation systems design firm Food Futures Company in partnership with global agrifood tech impact accelerator GROW. The GROW2Asia Future Protein Program is a 5-month market entry program supporting Australian scale ups capture the opportunity in Asia, supporting you to navigate and understand the region and confidently expand your footprint into the ASEAN.
Based in Singapore, GROW is a perfectly positioned landing pad to assist Australian businesses to launch into the wider region. This program will leverage mentors, coaches and investors in the vibrant alternative protein hub of Singapore, as well as tapping into Australia's deep experience in agriculture innovation and favourable location just a stone's throw away from the wider Asia region.
​
The GROW2Asia Future Protein Program is part of a global program delivered by GROW; join other Future Protein scale ups from around the world to learn and connect with other brands and businesses on the same global expansion journey as you.
SCALE YOUR BUSINESS TO CAPTURE THE GLOBAL OPPORTUNITY
Maximise opportunities for new innovations to meet the evolving demands in quantity, quality and variety of proteins
.png){kind=small}
Why Future Protein?
In the next 30 years, demand for protein will grow exponentially, with the global population set to reach 9.7 billion by 2050. According to CSIRO, there is currently a $13 billion market opportunity for Australia to lead innovation in traditional animal protein, plant protein and novel protein production to address this demand and contribute to the future of protein globally.
​
The future protein sector exists at the intersection of a range of emerging consumer trends and social, environmental and technological developments including:
-
Increased interest in nutrition and human health
-
Environmental impact of climate change and addressing the reduction in food and agricultural waste and developing more sustainable and transparent food systems
-
Technological developments in novel protein production such as precision fermentation, repurposing food waste for protein production and cellular meat production
​
The convergence of these trends challenges the current state of protein production, highlighting the need for a more sustainable and equitable protein industry and creating the opportunity for transformation through innovation.
The Asia-Pacific alternative protein sector is forecast to hit over $7 billion by 2027
Program Overview
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 with confidence.
Phase 1:
3 WEEKS
Introduction to South East Asia & exporting
The program will commence remotely with phase one focused on helping you to clearly define your markets for export and optimise your value chain for export success. A series of virtual workshops will be delivered to elaborate on the benefits and opportunities of trading in the region using Singapore as a gateway.
Phase 2:
6 WEEKS
During this second phase, you will be provided support to prepare your marketing assets and export strategy in readiness for the 'boots on the ground' trip to Singapore in October. ​
Market Access
Phase 3:
7 WEEKS
Scaling your internationalisation plan
Mentoring and expert sessions focused on developing your long-term export strategy with a specific focus on: in-market resourcing including legal and compliance; distribution; developing your roadmap for expansion; fundraising in Asia; and setting up an advisory board.​
Phase 4:
7 WEEKS
Launching
into Asia
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. The cohort will participate in the Singapore International Agri-Food Week (SIAW), one of the largest food and drink trade events in Asia where you will have the opportunity to exhibit and activate connections. This phase will also involve a showcase event and market immersion with the GROW team. However, if this is not possible, the Food Futures-GROW team can provide appropriate in-country support.
The GROW2Asia Future Protein Program is an international food innovation program to shape the future of all protein sources so that it is healthier, sustainable and consumer-centric
Unlocking Asia
The Asia-pacific Alternative Protein Sector is multiplying at a compound annual growth rate of 14.8% and is forecast to hit over $7 billion by 2027.
​
Alternate sources of protein such as tofu, tempeh, and soy have been a staple of the Asian diet for over a millennia as traditional ingredients in everyday foods. The early adoption of non-traditional proteins in Asia has paved the way for future protein products to be readily accepted. Consumers in Asia are embracing sustainability and becoming more open to trying more diversified protein products, including healthier traditional protein options, as they care more about social and environmental issues.
Singapore as a future protein landing pad for the rest of Asia
Singapore has earned the reputation of being a food tech innovation hub, and the Government is supporting this push with a S$60 million Agri-Food Cluster Transformational Fund to boost food security and aims to produce 30% of the population's food needs domestically by 2030.
​
Why Singapore?
-
2nd easiest country to do business in the world: attractive tax, world-class infrastructure, access to talent, strategic geographic location
-
Asia’s hub for alternative protein: home to Asia’s leading alt protein startups, the first country to approve the sale of cell-based meat, >US$100m government investment
-
Ranked #1 ecosystem for startups in APAC: home to 12 unicorns, >3,800 tech-enabled startups, ecosystem worth US$89bn
​
As a result, protein start-ups are mustering in Singapore to take advantage of the supportive ecosystem and the strong consumer platform to test their products before expanding into the broader ASEAN markets.
Who should apply
The GROW2Asia program will officially launch in early June 2023 and is a 5-month program finishing in November 2023. We welcome Australian alternative protein brands, sustainable and innovative traditional protein brands and future protein food tech or ingredient businesses looking to export into the ASEAN region in the next 12 months.
New food tech processes
Plant-based protein
Innovative traditional protein
Alternative seafood
Alternative Dairy
Insect protein
Cell-based meat
Waste value adding
Innovative ingredients
Precision fermentation
Seeking the next group of passionate and highly motivated future protein businesses
Program Benefits
The GROW-Food Futures team join forces to provide you with the tools, resources and connections you need to de-risk and fast-track your market expansion. Plug in to Singapore's agrifoodtech ecosystem as a landing pad to launch into the greater ASEAN region.
​
Join Australian and International teams on the same journey as you, building long term connections across the global future protein sector.
Plug into Singapore’s
Agrifoodtech Ecosystem
Access the thriving ecosystem in Singapore, recognised as Asia’s agrifood innovation hub and the first nation in the
world to approve the sale of cultivated meat.
Grow Remotely before
Going-in Country
Lay the foundations for international growth from your home market to maximise in-market opportunities and
explore unique resourcing models for Asia.
De-risk & Fast-track
Expansion Plans
Connect to local market capabilities and knowledge to validate and adapt your startup’s business model and
customer value proposition.
Founder & Business
Focused
Receive targeted, personalised coaching from an industry
expert to effectively help you strategize and execute your
internationalisation game plan
Community
Build connections with other founders from Australia and around the world and businesses through our collective network and engage in peer-to-peer learning. Further internationalisation pathways and alumni programs
Industry events
Opportunities for PR and participation in large industry events, regional showcases and pitching opportunities.
What you need to know
The GROW2Asia Future Program officially kicks off 1 June 2023. Click any of the 'apply now' buttons to submit your application.
When
Applications Open: 7 March 2023
Applications Close: 30 April 2023
Shortlist Notified: 15 May 2023
Finalists Announced: 19 May 2023
Program Launches: 1 June 2023
Cost
We understand the complexities and challenges of being a startup at different financing phases. The value of the programme is US$ 65,000 however to make this accessible to founders, we offer a few fee payment options
​
1: Full Fee Payment (includes $5000 joining fee)
$25,000; paid in 4 payments before stages 1-4
2: Joining fee + Royalty option
$5000 joining fee (paid in 2 tranches) + Royalty on successful introductions
​
*Scholarships: Food Futures will offer two full sponsorships subject to satisfactory participation and progress (teams meeting diversity requirements are highly regarded)
​
*Diversity Bursary:
Teams who demonstrate diversity, i.e. at least 1 Indigenous /female/ migrant founder
-75% bursary available on the Joining Fee
-$2000 travel stipend for the in-country trade mission
​
Food Futures Company will work with you to identify any available federal and state grants (including EMDG) to help with the program's costs; all travel and exhibition costs are not included in the program fee.
*Further 1:1 discussions will be carried out to align on investment, royalty and equity terms with each startup.
^ Excluding Goods and Services Tax (GST), or withholding tax
Where
A hybrid model of remote, virtual learning and in person events
FREQUENTLY ASKED QUESTIONS