SPACE-F launches Global FoodTech Incubator and Accelerator Batch 4, aiming to making Southeast Asia a global hub for FoodTech

Bangkok – March 29, 2023 – SPACE-F has launched Batch 4 of its world-class food-tech startup incubator and accelerator program, as it continues to drive the exponential growth of the global food industry through technology and innovation and transform Southeast Asia into a global food technology hub.

By nurturing promising FoodTech startups from around the world, SPACE-F provides a platform for entrepreneurs to develop innovative solutions that address current and future challenges faced by the food industry. SPACE-F is Thailand’s first global food-tech startup incubator and accelerator program, a partnership between the National Innovation Agency (Public Organization), Thai Union Group PCL, Mahidol University, Thai Beverage PCL, and Deloitte Thailand.

Participants in SPACE-F Batch 4 will have access to mentorship, networking opportunities, and funding to develop their ideas and scale their businesses. The program was designed to provide the participating startups with access to state-of-the-art facilities and resources at Mahidol University, a leading academic institution in Thailand. Additionally, Thai Union, one of the world's largest seafood producers, offers its expertise in food processing, packaging, and distribution to help the startups bring their products to market.

This year, 20 startups have joined SPACE-F Batch 4 and have been divided into two cohorts with 10 startups from three countries joining the incubator programs, and 10 startups from six countries taking part in the accelerator program. The startups will travel to Bangkok to work closely with leading corporations and RISE Corporate Innovation Powerhouse – which helps scale up innovation initiatives – to develop the world-class innovations that solve some of the food industry’s challenges and connect with Thailand’s food technology ecosystem and potential investors.

Dr. Tunyawat Kasemsuwan, Group Director, Global Innovation, Thai Union, told guests at the program launch event that, “Thailand is one of the largest food exporters in the world, which people think of as ‘Kitchen of the World.’ However, when you think about food technologies and startups five years ago, Thailand, at that time, was not considered a place for a food technology ecosystem. That is why SPACE-F, the world’s first FoodTech-focused program featuring both incubator and accelerator programs, was launched with the ambitious mission to bring promising FoodTech startups to Thailand, incubate their potential, and accelerate their growth with our expertise and resources. For the past four years, we have supported the startups that have joined the program, with over 90 percent of them thriving and making an impact in the industry. With the vision and collaboration of corporations, a university, startups, and a government agency, Thailand will become an industry leader and a driving force that creates a global hub for food technology and innovation, creating a positive impact for the world.”

10 FoodTech startups joining incubator program:

1. ImpacFat (Singapore): Enhancing nutrition and taste of alternative meats with fish cell-based fat
2. Marina Biosciences (Singapore): Cultivates seafood delicacies to make exquisite food more exquisite, whilst saving the lives of animals
3. Mycovation (Singapore): Transforming mycelium into novel ingredients using fermentation technology
4. Nutricious (Thailand): Egg white protein-rich beverage
5. Plant Origin (Thailand): Egg alternative from rice bran protein
6. PROBICIENT (Singapore): The world’s first probiotics beer
7. Rak THAIs by Angkaew Lab (Thailand): Fermented espresso cold brew coffee
8. The Kawa Project (United States): Sustainable alternative to cocoa powder
9. Trumpkin (Thailand): Non-dairy cheese from pumpkin seed
10. Zima Sensors (Singapore): Package leak detection, made seamless

10 FoodTech startups joining accelerator program:

1. Genesea (Israel): Seaweed food tech company, producing alternative protein extraction & ingredients from macro-algae
2. Lypid (United States): Alternative fat solutions
3. NovoNutrients (United States): The low-cost, globally scalable solution for making alternative protein by capturing carbon
4. TeOra (Singapore): Building the future of sustainable food for 10 billion humans
5. AlgaHealth (Israel): We put healthy into food!
6. Seadling (Malaysia): Seaweed functional nutrition
7. MOA (Spain): Healthy food for a sustainable future
8. Pullulo (Singapore): Achieving a sustainable future with microbial protein
9. The Leaf Protein Co. (Australia): Unlocking earth’s most abundant source of protein
10. AmbrosiaBio (Israel): Enabling a healthy lifestyle without compromising the product's taste

For more information about SPACE-F, visit https://www.space-f.co

About National Innovation Agency (Public Organization)

NIA’s mission is to support and develop Thailand’s innovation system, in both the way of improvement and initiation, to promote economic restructuring and competitive enhancement. NIA functions as a focal facilitator driving national innovation by co-creation, networking, fostering, and partnering with different organizations from various fields such as academic, technology, industry, finance, and investment. Its focus is on utilizing knowledge management to achieve innovation, particularly to foster “innovation on cluster platform” which uses innovation as the principal tool in improving quality of life and driving towards an increasingly competitive economy.

About Thai Union

Thai Union Group PCL is the world's seafood leader, bringing high quality, healthy, tasty and innovative seafood products to customers across the world for 46 years.

Today, Thai Union is regarded as one of the world's leading seafood producers and is one of the largest producers of shelf-stable tuna products with annual sales exceeding THB 155.6 billion (US$ 4.4 billion) and a global workforce of more than 44,000 people who are dedicated to pioneering sustainable, innovative seafood products.

The company’s global brand portfolio includes market-leading international brands such as Chicken of the Sea, John West, Petit Navire, Parmentier, Mareblu, King Oscar, Hawesta, and Rügen Fisch, Thai-leading brands SEALECT, Fisho, Qfresh, Monori, OMG Meat, Bellotta and Marvo, and ingredient and supplement brands UniQ®BONE, UniQ®DHA and ZEAvita.

As a company committed to “Healthy Living, Healthy Oceans,” Thai Union is proud to be a member of the United Nations Global Compact, a founding participating company of the International Seafood Sustainability Foundation (ISSF), and current Chair of Seafood Business for Ocean Stewardship (SeaBOS). Thai Union's ongoing work through its SeaChange® sustainability strategy was recognized when the company was listed on the Dow Jones Sustainability Indices (DJSI) for the ninth consecutive year in 2022. The company was ranked number one on the Food Products Industry Index of the DJSI, a position it previously held in 2018 and 2019. Thai Union was also named to the FTSE4Good Emerging Index for the sixth straight year in 2021. Find out more about the Group’s sustainability at seachangesustainability.org.

thaiunion.com

About Thai Beverage Public Company Limited

Thai Beverage Public Company Limited (“ThaiBev” or the “Group”) is Southeast Asia’s leading beverage producer and distributor and the largest in Thailand. The Company’s vision is to be the stable and sustainable ASEAN Leader in beverage and food business.

ThaiBev was listed on the Singapore Exchange Mainboard in 2006. In 2012, the Company expanded beyond Thailand with its acquisition of Fraser and Neave, Limited (“F&N”), a well-established conglomerate with a portfolio of highly recognized beverage brands. In 2017, ThaiBev further strengthened its regional presence by acquiring stakes in the Grand Royal Group (“GRG”), the largest whisky player in Myanmar, and in Saigon Beer-Alcohol-Beverage Corporation (“SABECO”), a leading beer producer in Vietnam, which makes ThaiBev the largest beer player by volume in Southeast Asia.

Today, ThaiBev’s business comprises four segments – spirits, beer, non-alcoholic beverages, and food. In Thailand, the Group operates 19 distilleries, 3 breweries, and 20 non-alcoholic beverage production facilities and is supported by an extensive distribution network spanning over 500,000 points of sale. ThaiBev is present in over 90 countries, including 5 production facilities in Scotland which are known for producing single malt scotch whiskies such as Balblair, Old Pulteney, and Speyburn; 2 production facilities in Myanmar; and 1 distillery in China which produces Yulinquan Chinese spirits.

The Company’s well-known spirits brands include Ruang Khao, Hong Thong, Blend 285, SangSom, and Mekhong, as well as GRG’s iconic Grand Royal whisky. Chang, the Group’s signature beer, is one of the most recognizable Thai beers locally and internationally, while SABECO’s Bia Saigon and 333 are Vietnam’s top-selling beer brands. ThaiBev’s leading non-alcoholic beverage brands include Oishi green tea, est cola, and Crystal drinking water, as well as F&N’s sparkling drinks and 100PLUS isotonic drink. The Company also operates Japanese restaurants, as well as ready-to-cook and ready-to-eat food businesses, through its subsidiary Oishi Group Public Company Limited. ThaiBev is accelerating the expansion of its food business by leveraging its subsidiary Food of Asia and its franchise outlets under KFC, the most popular quick service restaurant brand in Thailand.

ThaiBev is one of the top 10 largest companies on the Singapore Exchange by market capitalization and a constituent of the Straits Times Index. It is also recognized as the Dow Jones Sustainability Indices (“DJSI”) World Indices Leader in Beverages Industry and part of DJSI World family and DJSI Emerging Markets family.

About Mahidol University

Mahidol University has its origins in the establishment of Siriraj Hospital in 1888 by His Majesty King Chulalongkorn (Rama V), and the hospital’s medical school is the oldest institution of higher learning in Thailand. This diversified institution now offers top quality programs in numerous social and cultural disciplines, including the most doctoral programs of any institution in Thailand, yet has maintained its traditional excellence in medicine and the sciences.

On 16 October 2007, the Thailand National legislative Assembly approved Mahidol University as an autonomous institution. This transformation will enhance the university’s efficiency, flexibility, and ability to innovate, and standardize its practices with those of other world-class universities.

About Deloitte

Deloitte provides audit & assurance, consulting, financial advisory, risk advisory, tax & legal related services to public and private clients spanning multiple industries. With a globally connected network of member firms in more than 150 countries and territories, Deloitte brings world-class capabilities and high-quality service to clients, delivering the insights they need to address their most complex business challenges.

Deloitte’s Thailand practice has grown rapidly over the years to its current size of over 1,500 staff with over 50 partners.

Deloitte’s Thailand practice, founded in 1939, is the first Thai accounting firm. With the depth of experience and quality of resources, Deloitte Thailand has been serving clients in Thailand, spanning various industries and sectors, for more than 80 years. Working as one Deloitte for the Asia Pacific marketplace enable us to leverage our size, scale and clients reap the benefit of our combined pool of expertise and specialist skills.

About RISE

RISE is a leading Corporate Innovation Powerhouse based out of Southeast Asia. With the mission to lift up 1 percent GDP of this region, RISE works closely with Fortune 500 Companies, large family businesses, and government agencies across Southeast Asia to set up and scale innovation initiatives through 5 corporate innovation services: Corporate Innovation Consulting, RISE University, SeaX Ventures, and Athena.