In a commitment to help UK ag, food, and beverage innovators expand into Asia, Innovate UK and GROW – the Asian agrifoodtech ecosystem catalyst backed by AgFunder – have partnered to launch the Global Incubator Programme – Gateway to Asia with the support of Innovate UK EDGE.
This collaboration forms a direct link between the UK and Singapore, providing market-specific internationalization assistance to raise the profile of UK food and agriculture innovation among food manufacturers, agribusinesses, and investors in Southeast Asia.
The 20-week program is integrated with GROW’s Land x Launch™ platform, which plugs companies into the local agrifoodtech ecosystem in Asia and connects founders from around the world. Through the program, UK entrepreneurs will be able to capitalize on GROW’s extensive partner network throughout the region.
Asia is expected to be home to 5 billion people by 2050, accounting for 60% of global food consumption. To meet this demand, governments across Southeast Asia are aggressively pursuing strategies to ensure greater food security. This includes active support for agrifood entrepreneurs who can help grow the local ecosystem by establishing themselves in the region.
The Global Incubator Programme – Gateway to Asia is designed for the ‘next normal’ of Covid-19. Delivered virtually, it will start in the UK to help selected companies validate their market fit and co-develop a roadmap to establish their in-market presence. Recognizing the uncertainties of travel, the program offers a variety of options to allow companies to grow their team and presence in Asia – physically or remotely. It will include access to GROW’s extensive regional and international networks of mentors and experts, research partners, and corporate customers.
Kara Owen, UK High Commissioner to Singapore, said: “Congratulations to Innovate UK and GROW on the launch of this Global Incubator Programme – the first between the UK and Singapore, and another collaboration under our SG-UK Partnership for the Future. This programme connects our agrifood innovation ecosystems more closely at a time when the world is facing unprecedented global disruptions prompted by issues such as the pandemic and climate change. Our innovators will be supported to work on issues such as food security and sustainability, where the applications could benefit not just our own two countries but the entire world. Just as the UK’s new national Innovation Strategy intends, this innovation collaboration is designed to really push the boundaries in R&D for transformational technologies that can help us all build back better.”
Joshua Soo, CEO, GROW, added: “Our mission at GROW is to be the gateway to Asia for international scaleups. Entering into a new market is never easy and you need trusted partners. We want to be that to founders, and help their solutions make a positive impact to producers and consumers in the diverse Asia markets.”
UK companies which see opportunities abroad face challenges in the fragmentation and complexity of Asian markets, amplified by the ongoing Covid-19 restrictions on business travel. The Global Incubator Programme – Gateway to Asia overcomes these hurdles by filling the knowledge gap and providing on-the-ground support in Asia. This allows UK companies to gain traction internationally while building their businesses remotely from the UK.
David Golding, head of global innovation partnerships, Innovate UK, said: “Innovate UK is really pleased to be launching its Global Incubator Programme in Singapore, working in partnership with GROW. Through the Programme, funded by Innovate UK, we are looking to help innovative UK businesses to grow and scale globally. We look forward to seeing the first cohort of UK businesses participate in the Programme in what is such a dynamic and vibrant market and the gateway to Asia.”