Helping Australian businesses access growing ASEAN 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.
For agrifood businesses looking to grow into Asia
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. We help Australian businesses to adapt to a COVID-19 world and access export markets by providing customised in-country support where required. We can be your boots on the ground!
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. We help you to explore and launch into new international markets even during this COVID-19 world by being your boots on the ground where required.
18 Oct-29 Oct 2021
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 undertaken through a process to start thinking about the ASEAN region and the nuances that exist in these markets.
8 Nov-17 Dec 2021
Goal Setting &
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.
10 Jan- 4 Mar 2022
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.
21 Mar- 6 May 2022
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.
By 2050 the population of Asia will be 5 billion, accounting for 60% of global consumption
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.
Who Should Apply?
The GROW2Asia program will officially kick-off on the 18th of October 2021 and is a 6-month program finishing in early May 2022. We welcome applications from agrifood tech and innovative food & beverage 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.
Application Key Dates
GROW2Asia provides a fully customised program to support each business looking to export to Asia, by taking an agile approach to developing, testing and iterating your business models for maximum impact.
1:1 support from our broad GROW and FFCO mentor network. Dedicated business support by business coaches.
Variety of professional service providers to help you expand into the region at discounted rates
Office-hours with our agrifood experts and growth hackers
Pitching opportunities to our investor, corporate and strategic partner network
Events and networking opportunities
We help you plug into the ASEAN agrifood ecosystem of growth partners, channel partners, strategic customers and entrepreneurs
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?
Applications are now open-just click the 'Apply Now' button to submit your form.
4. What is the selection process?
We have a selection process which includes:
1. Full applications opening on the 12th of July and closing on the 22nd of August.
2. Initial Shortlist decided by 27th August- you will be contacted directly by the team
3. Those that make it to the initial shortlist will be asked to submit a pre-recorded pitch by the 3rd September 2021.
4. 1:1 interviews with specific businesses will be set up weeks 3-17 Sept 2021
5. Finalists provided letter of offer: 17 Sept-24 Sept
We will be selecting between 8-10 teams to participate.
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.