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China consumes more than a quarter of all meat in the world, including about half of all pork production. Overall, meat consumption for the average person in the country has increased 3.7 times since the 1980s. Even though people in China now eat more meat than ever before, the country also has a long history of vegetarian cuisines, with many meat substitutes derived from soy.
Now, because Chinese consumers pay more attention to personal health and the environment, plant-based "meats" are seeing growing popularity, with the <a href="https://www.weforum.org/agenda/2019/12/beyond-meat-zhenmeat-chinas-meatless-market" target="_blank" rel="noopener noreferrer">Chinese market expected to reach USD 11.9 billion in value by 2023</a>.
Notable US-based startups like Beyond Meat and Impossible foods have been making waves in the plant-based protein arena for their meat substitutes that can pass for the real thing. They've already targeted the Chinese market, with <a href="https://kr-asia.com/beyond-meat-enters-the-chinese-market-via-starbucks-partnership" target="_blank" rel="noopener noreferrer">Beyond Meat's products now in the country</a>, although Impossible Foods has yet to appear on menus or store shelves due to China's regulatory stance on genetically modified organism (GMO) ingredients.
Meanwhile, some domestic competitors are looking to carve a piece out of the Chinese market for themselves:
<a href="https://kr-asia.com/chinas-answer-to-beyond-meat-predilects-local-cuisine-inside-chinas-startups" target="_blank" rel="noopener noreferrer">Zhenmeat</a> is looking to appeal to local consumer tastes with their pea protein-based product, which is used to make imitation beef, pork, and even crayfish. The company has already completed a seed round with USD 140,000 from venture capital firm Big Idea Ventures, and is eyeing a Series A funding round.
<blockquote>
<h4>Read more: <a href="https://kr-asia.com/chinas-answer-to-beyond-meat-predilects-local-cuisine-inside-chinas-startups">China's answer to Beyond Meat predilects local cuisine: Inside China's Startups</a></h4>
</blockquote>
<a href="https://kr-asia.us16.list-manage.com/subscribe?u=30d29fcc7b3f6538487126910&amp;id=3036cffb93"><img class="alignnone size-full wp-image-62202" src="https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest.png" alt="China digest" width="1160" height="232" srcset="https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest.png 1160w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-300x60.png 300w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-768x154.png 768w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-1024x205.png 1024w" sizes="(max-width: 1160px) 100vw, 1160px" /></a>
Starfield, whose products have already found their way to consumers, has formed numerous restaurant and merchant partnerships, as well as ties for product research and development. They've already <a href="https://kr-asia.com/china-brief-chinese-artificial-meat-startup-starfield-secures-funds-from-investor-of-beyond-meat" target="_blank" rel="noopener noreferrer">secured funds worth tens of millions of yuan</a>, and are backed by one of Beyond Meat's early investors.
OmniFoods has a research and development team based in Canada. The company has already seen its OmniPork reach Hong Kong and parts of Southeast Asia. OmniPork has also found its way onto an airline menu, sating appetites of Cathay Pacific's passengers, although the product has yet to reach mainland China.
Whole Perfect Food has been around since the 1990s and already has an extensive product line. It holds numerous patents as well. With an increasing number of artificial meat competitors, the company aims to expand its global presence as well as fend off newcomers to the scene.
To learn more, check out our video about these developers of artificial meat:
<div class="embed-container"><iframe src="https://www.youtube.com/embed/CEkQLe3WrIo?autoplay=1&amp;mute=1&amp;origin=https://OurWebsiteDomain" frameborder="0" allowfullscreen> height="278" frameborder="0" allowfullscreen="allowfullscreen" data-ytbridge="vidSurrogate2"></iframe></div>
<blockquote>To check out other videos by KrASIA, please visit our <a href="https://www.youtube.com/channel/UCjFDfs9Sm4W9IL10MKP0v_Q" target="_blank" rel="nofollow noopener noreferrer" data-type="external">YouTube channel</a>.</blockquote>

Video | China's plant-based meat competition is sizzling

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Israeli plant-based meat alternative startup <a href="https://www.savor-eat.com/" target="_blank" rel="noopener noreferrer">SavorEat</a> will receive USD 3 million with an option for an additional USD 1 million from investment houses Mor and Meitav Dash, which said they were entering the foodtech sector, <a href="https://en.globes.co.il/en/article-mor-meitav-dash-to-invest-3m-in-meat-alternative-co-savoreat-1001337320" target="_blank" rel="noopener noreferrer">according to Globes</a>.
The investment is at a company valuation of USD 25 million and will be conducted in two stages in accordance with the company’s milestones. The first USD 1 million will be invested immediately at a valuation of USD 13 million, and then an additional USD 2 million will be invested at a valuation of up to USD 35 million, according to the report.
The financing round was led by Ori Mor of the Mor Langermann investment bank.
Founded in 2018, SavorEat is developing a processing method to create plant-based products for use as meat substitutes. The company’s solution combines 3D printing technology and nutritious plant-based ingredients, enabling the creation of a variety of appetizing products that can be cooked, grilled, or baked. SavorEat was founded by CEO Racheli Vizman, chief scientist <a href="https://nocamels.com/2017/11/the-future-of-food-how-new-israeli-tech-could-have-you-eating-meals-made-by-a-3d-printer/" target="_blank" rel="noopener noreferrer">Oded Shoseyov</a>, and Ido Braslevsky. The technology was developed at the Hebrew University’s Faculty of Agriculture and has received an exclusive commercialization license from the Hebrew University’s Yissum technology transfer company.
<a href="https://kr-asia.com/join-krasias-new-community?utm_source=articlemid&amp;utm_medium=KrASIAbanner&amp;utm_campaign=CommunityKrASIAbanner" target="_blank" rel="noopener noreferrer"><img class="aligncenter wp-image-84061 " src="https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-300x60.jpg" alt="kr asia community" width="680" height="136" srcset="https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-300x60.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-1024x204.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-768x153.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-1536x305.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2020/07/img_b344e4d3-fbe8-48ca-840e-7a9c32bef38g-2048x407.jpg 2048w" sizes="(max-width: 680px) 100vw, 680px" /></a>
<blockquote>
<h3>Read this: <a href="https://kr-asia.com/chinas-answer-to-beyond-meat-predilects-local-cuisine-inside-chinas-startups" target="_blank" rel="noopener noreferrer">China's answer to Beyond Meat predilects local cuisine</a></h3>
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“We believe that only a quality and healthy alternative to meat will succeed in leading the wishes for change of reducing meat consumption. Through the last financing round, we will work to realize this outlook and bring unique technology to the market that can lead the foodtech market,” SavorEat CEO Racheli Vizman said. “The fact that significant institutions in the capital market have expressed confidence in us makes us very happy, and we believe that they will see justification in their investment in the not very long-term.”
“The unique technology that we have developed will be the next thing in the meat alternatives market. The technology not only simulates taste but also the unique colors and smells of meat, as well as the unique texture and experience of eating meat, and that is without foregoing the nutritional composition of the serving. This is a leap forward compared with the conventional methods of manufacturing with most companies currently producing the same texture,” she said.
This article first appeared in <a href="https://nocamels.com/2020/07/meat-alternative-startup-israel-savoreat-plant/" target="_blank" rel="nofollow noopener noreferrer" data-type="external">NoCamels</a>, which covers innovations from Israel for a global audience.

Israeli meat alternative startup SavorEat raises USD 3 million

Israel

… chains.</figcaption></figure>
"The biggest risk is to find the right product," said Lu. "The market and our products are very niche, and we are betting on the type of products that could be popular among Chinese people. For example, in the US, making a plant-based burger patty is the winner, as everyone would be interested in a burger patty. But, in China, there is not a single product that we can say it is the equivalent of what a burger is to Americans," he explained.
Lu also mentioned two significant challenges for Zhenmeat's business: changing Chinese customers' dietary habits of eating real meat, and finding the right foodservice providers, such as restaurant chains or grocery stores.
"It is a novel food. Although various vegetarian restaurants are offering alternative protein sources such as tofu products, there is no institutionalized concept or acceptance of 'fake meat' in China. Moreover, Chinese cuisine is very different than Western cuisine, making it harder for us to find the right food service provider," he said.
In the West, fast food restaurant chains are very successful, Lu noted. "Therefore, if you make a deal with a western-style Quick Service-food Restaurant (QSR) and convince them to put your plant-based meat on the menu, you can reach many customers. And this will be a very lucrative opportunity for your company."
<figure id="attachment_85378" aria-describedby="caption-attachment-85378" style="width: 1024px" class="wp-caption aligncenter"><img class="wp-image-85378 size-large" src="https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-1024x576.jpg" alt="" width="1024" height="576" srcset="https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-1024x576.jpg 1024w, https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-300x169.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-768x432.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-1536x864.jpg 1536w, https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-2048x1152.jpg 2048w, https://console.kr-asia.com/wp-content/uploads/2020/07/2052771191-480x270.jpg 480w" sizes="(max-width: 1024px) 100vw, 1024px" /><figcaption id="caption-attachment-85378" class="wp-caption-text">Zhenmeat’s plant-based crayfish is made with seaweed, plant fibers, and konjac extract. It specifically targets Chinese consumers, who currently drive 90% of global crayfish consumption.</figcaption></figure>
Currently, Zhenmeat is targeting Generation Z —those born from 1995 to 2010— and the upper-middle-class in China's first and second-tier cities. According to Zhenmeat's market research, these two groups are more interested in artificial meat products. Compared to previous generations, Generation Z wants to pursue a more sustainable and healthy lifestyle, while following technological trends. Consequently, plant-based meat is an innovative and healthy option for them.
"Generation Z is interested in our products because they are concerned about the negative effect of consuming meat on climate change. Also, it is the first generation in China who grew up while China's economy was fast developing, and they never felt the lack of meat in their diet. In fact, they had enough meat, and now they are ready for meat alternatives," Lu says.
He underlines that the upper-middle class is also interested in alternative meat products because they want to pursue a more Western-style lifestyle. Yet, they are mostly interested because of the health benefits that alternative protein sources can provide.
The company is expanding its business by focusing on channels where there is less competition. For instance, instead of making its products available at Western-style QSRs, Zhenmeat is trying to introduce its products to hotpot restaurant chains, locations where customers share one pot of cooking broth with several fresh vegetables and meat ingredients. According to a survey by Chenzhi Catering Database, when dining out, 40.2% of Chinese usually eat hotpot with friends while 17.6% use the occasion for a family reunion, <a href="https://www.chinadailyhk.com/article/119455">China Daily</a> reported.
Also, the firm will launch a line of products for premium grocery stores by the end of August 2020, Lu disclosed.
The company completed its seed round funding earlier this year, raising USD 140,000 from New York-based venture capital firm <a href="https://bigideaventures.com/">Big Idea Ventures</a>, and is now working on its Series A round.
"Zhenmeat is 'talking aggressively' with investors from Europe, the US, and China, hoping to raise USD 2 million by the end of this year to complete our A round of funding," Lu told KrASIA. 
Fueled by rising income and a growing middle class, meat consumption in China grew almost sevenfold over the last three decades, making China the world's largest consumer of meat. However, experts are also warning about the <a href="https://wildaid.org/chinas-love-for-meat-is-threatening-its-green-movement/">environmental impact of China's growing meat consumption.</a>
Perhaps, startups like Zhenmeat represent a more optimistic alternative. By bringing plant-based meat to Chinese cuisine, these companies can help reduce the amount of meat consumption, while also popularizing the idea of 'faux' meat as a healthier and sustainable choice.
This article is part of KrASIA’s “Inside China’s Startups” series, where the writers of KrASIA speak with founders of tech companies in the country.

China's answer to Beyond Meat predilects local cuisine: Inside China's Startups

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sustainability

… market has even attracted companies from other industries.
<a href="https://asia.nikkei.com/Companies/IBIDEN-Co.-Ltd">Ibiden</a>, a Japanese maker of printed circuit boards, has started production of a soybean-based meat substitute. The company utilizes mold technology used to shape and manufacture automobile parts, to make soybean-based Japanese hamburger steak.
The company plans to commence test sales at major retailers from July to September in the greater Tokyo area before starting full production.
In Thailand, meanwhile, local conglomerate Charoen Pokphand Group has started research and development for plant-based food.
"Although plant-based food is not so popular in Thailand, we will continue to develop it as it is a [global] trend," Wisade Wisidwinyoo, president of CPRAM, a subsidiary of Charoen Pokphand Foods, told Nikkei.
<a href="https://kr-asia.us16.list-manage.com/subscribe?u=30d29fcc7b3f6538487126910&amp;id=3036cffb93"><img class="alignnone size-full wp-image-62202" src="https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest.png" alt="China digest" width="1160" height="232" srcset="https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest.png 1160w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-300x60.png 300w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-768x154.png 768w, https://console.kr-asia.com/wp-content/uploads/2020/02/China_Digest-1024x205.png 1024w" sizes="(max-width: 1160px) 100vw, 1160px" /></a>
Not only big conglomerate CPF, but also emerging Thai start-ups are trying to take advantage of the shift toward plant-based meat as they realize that several instances of animal-sourced pandemics over the past decade have raised concerns among meat lovers and encouraged them to become vegetarians or switch to plant-based meats.
Thai FoodTech, which launched plant-based food product More Meat early this year, says it has received a warm welcome from local clients.
Vorakan Tanachotevorapong, a co-creator of More Meat, said his company earned higher-than-expected sales of THB 500,000 (USD 16,189) in the first quarter of this year, well above the around THB 100,000 expected when he launched the product in January 2020.
Swiss giant Nestle will invest more than CHF 100 million (USD 94 million) to produce plant-based meat in China by the end of the year, betting consumers will embrace alternative meat as pork imports from overseas decreased due to the pandemic.
The world's largest food company will expand existing facilities in Tianjin for artificial-meat production, its first such attempt in Asia.
After major US meat plants closed due to confirmed coronavirus cases among workers, concerns arose among meat suppliers in Asia about their supply chains. Mitsubishi's Kizuki, however, said plant-based meat has a low procurement risk as it can easily adapt to the vagaries of supply and demand. For example, raising cattle from breeding to fattening takes several years. And climate change can cause large fluctuations in the harvest and price of food grains needed to feed animals.
Also, unlike animal meat, advocates say plant-based varieties produced in hygiene-controlled facilities avoid the risk of losses resulting from animal illnesses such as outbreaks of avian influenza, foot-and-mouth disease, and the African swine fever that decimated Chinese pork stocks in 2018.
"Alternative meat will draw more interest" in the wake of food company supply chain anxiety caused by the coronavirus pandemic, Kizuki added.
This article first appeared on <a href="https://asia.nikkei.com/Business/Food-Beverage/Coronavirus-accelerates-demand-in-Asia-for-plant-based-meat" target="_blank" rel="nofollow noopener noreferrer" data-type="external">Nikkei Asian Review</a>. It’s republished here as part of 36Kr’s ongoing <a href="https://kr-asia.com/nikkei-teams-up-with-36kr-in-asia-tech-news-coverage/" data-type="post" data-slug="nikkei-teams-up-with-36kr-in-asia-tech-news-coverage">partnership with Nikkei</a>. 36Kr is KrASIA’s parent company.

Coronavirus accelerates demand in Asia for plant-based meat

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… China's price also rose by 1.36% to USD 46.97.
In April, coffee chain Starbucks introduced <a href="https://kr-asia.com/beyond-meat-enters-the-chinese-market-via-starbucks-partnership" target="_blank" rel="noopener noreferrer" data-href="https://kr-asia.com/beyond-meat-enters-the-chinese-market-via-starbucks-partnership">a plant-based menu</a> featuring pasta, lasagna, and wraps made by Beyond Meat's alternative beef product, KrASIA wrote.
This article is part of KrASIA’s “China Brief” section, where KrASIA’s reporters will provide quick daily updates about the tech ecosystem in China.

CHINA BRIEF | Beyond Meat burgers to make China debut

Beyond Meat, the world’s biggest meat substitutes maker, announced on Monday that has <a href="https://www.beyondmeat.com/whats-new/beyond-meat-launches-in-china/" target="_blank" rel="noopener">officially entered the Chinese market</a> through a partnership with Starbucks.
The US coffee chain introduced a plant-based menu featuring pasta, lasagna, and wraps made by Beyond Meat’s alternative beef product this week, with prices ranging from RMB 59 (USD 8.33) to RMB 69 (USD 9.74). The new menu has been available in more than 3,300 Starbucks locations across China since Wednesday, according to a statement from Beyond Meat.
Starbucks’ new offerings also include dishes from plant-based pork alternative brand Omnipork, and beverages with oat milk provided by Swedish brand Oatly.
“Today we mark an important milestone as Beyond Meat launches in China, advancing our goal of increasing accessibility to plant-based meat globally,” said Beyond Meat Founder and CEO Ethan Brown.
To better connect with Chinese consumers, Beyond Meat has created a website in Chinese and launched official accounts on popular social media channels Weibo and WeChat, said the company.
The partnership with Starbucks marks Beyond Meat’s official entry in China, where the market for alternative meat products remains untapped compared to the US. The company was looking to <a href="https://www.reuters.com/article/us-beyond-meat-china-exclusive/exclusive-beyond-meat-eyes-production-in-asia-before-the-end-of-2020-idUSKBN1XH2G8" target="_blank" rel="noopener">expand its production to Asia</a> by the end of 2020 as part of its strategy to sell its products in China, Reuters reported.
California-based rival Impossible Foods, the maker of Burger King’s hit plant-based Impossible Whopper, has reportedly been <a href="https://www.caixinglobal.com/2019-09-05/impossible-foods-eyes-chinese-dining-table-for-faux-meats-101458941.html" target="_blank" rel="noopener">in early talks with Chinese firms</a> as it also expects to enter the local market.
Some Chinese companies are eyeing the large Chinese market as well. Artificial meat startup Starfield, which provides alternative meat products to merchants in China, including pizza chain Papa Johns and tea brand Nayuki, has taken in tens of millions of RMB in a <a href="https://www.kr-asia.com/china-brief-chinese-artificial-meat-startup-starfield-secures-funds-from-investor-of-beyond-meat" target="_blank" rel="noopener">round of financing</a> in March.
Beyond Meat’s early investor New Crop Capital and its China-focused investment partner Dao Foods International have participated in this round, along with Joy Capital and Matrix Partners China.
Also, Chinese firm Shuangta marketed China’s first <a href="https://kr-asia.com/new-pea-protein-based-meat-mooncakes-sell-out-instantly-in-china" target="_blank" rel="noopener">pea protein-based meat mooncakes</a> in September 2019. The product, was based on pea protein tissues extracted from starch, said Shuangta, adding that it has also started to provide pea protein to Beyond Meat.
The global alternative meat market is predicted to hit an annual value of USD 140 billion, about 10% of the USD 1.4 trillion worldwide meat market predicted in the next decade, according to <a href="https://www.ft.com/content/c0be42e0-7c7d-11e9-81d2-f785092ab560" target="_blank" rel="noopener">a Barclay report</a>.

Beyond Meat enters the Chinese market via Starbucks partnership

Andrew Ive has deep passion for food tech and alternative proteins—and a lot of experience. He once led the world’s largest food company incubator, Food-X, based in New York City, which has helped hundreds of food startups get off the ground. After Food-X, Ive was engaged in other food tech institutions, Abbot’s Butcher and FoodTech accelerator among them, until he decided to establish his own <a href="https://bigideaventures.com/" target="_blank" rel="noopener noreferrer">Big Idea Ventures</a> two years ago, aiming to help solve the world's biggest challenges by supporting entrepreneurs.
Big Idea Ventures launched its first fund, New Protein Fund, in March 2019 and is currently raising USD 50 million to invest in plant-based food and cell-based meats. The fund is backed by the likes of Temasek and Tyson Foods and will be closed by August 2020, according to Ive. “We have two stages of investment: USD 200,000 for seed-stage startups through the accelerator programs, and between USD 750,000 and 2 million for those who perform well,” Ive told KrASIA.
<figure id="attachment_70203" aria-describedby="caption-attachment-70203" style="width: 328px" class="wp-caption aligncenter"><img class="wp-image-70203 " src="https://console.kr-asia.com/wp-content/uploads/2020/04/image001-1.jpg" alt="" width="328" height="469" srcset="https://console.kr-asia.com/wp-content/uploads/2020/04/image001-1.jpg 250w, https://console.kr-asia.com/wp-content/uploads/2020/04/image001-1-210x300.jpg 210w" sizes="(max-width: 328px) 100vw, 328px" /><figcaption id="caption-attachment-70203" class="wp-caption-text">Andrew Ive, founder and general partner of Big Idea Ventures. Photo courtesy of Big Idea Ventures.</figcaption></figure>
Big Idea Ventures holds two accelerator programs every year in New York and Singapore to identify startups that will disrupt the global food industry. The firm has invested in several young companies globally, one of which is Singapore-based cellular agriculture startup <a href="https://kr-asia.com/sandhya-sriram-of-shiok-meats-on-introducing-cell-based-meat-women-in-tech" target="_blank" rel="noopener noreferrer">Shiok Meats</a>. Ive believes that Asia has massive potential to challenge the alternative protein industry in Europe and the US, and that <a href="https://kr-asia.com/collection/59869/at-the-frontline-coronavirus" target="_blank" rel="noopener noreferrer">COVID-19</a> might actually speed things up.
KrASIA recently talked to Andrew Ive to hear his thoughts.
KrASIA (Kr): Why do you focus on plant-based proteins? How important is this for society?
Andrew Ive (AI): Many studies suggest that animal factory farming is one of the largest contributors to climate change and global warming, which we need to solve now. In our opinion, bringing great-tasting, inexpensive, plant-based meat, seafood, and dairy to consumers around the world will help reduce the demand for animal factory farming, and will reduce its impact on the climate. The food system is very connected, so when something bad happens in the food system, it can have other consequences like diseases. Plant-based foods generally do not have the same challenges as animal factory farming, which sometimes use antibiotics or additional hormones. We believe plant-based food is a better and safer way of getting protein for humans, and it has a better outcome for Earth.
In addition, animal factory farming requires a lot of land, water, and other inputs while plant- and cell-based protein can be manufactured in smaller spaces more efficiently. So it provides more security for countries who rely on their neighbors for food, like Singapore, Abu Dhabi, and others. Given the current challenges with lockdowns and closed borders, it must make some nervous about their food security. Therefore, by producing plant and cell-based protein, populations are able to get a more reliable source of protein.
<a href="http://bit.ly/3bU6xXl" target="_blank" rel="noopener noreferrer"><img class="wp-image-70215 aligncenter" src="https://console.kr-asia.com/wp-content/uploads/2020/04/1582270296086-8-300x60.png" alt="" width="685" height="137" srcset="https://console.kr-asia.com/wp-content/uploads/2020/04/1582270296086-8-300x60.png 300w, https://console.kr-asia.com/wp-content/uploads/2020/04/1582270296086-8-1024x205.png 1024w, https://console.kr-asia.com/wp-content/uploads/2020/04/1582270296086-8-768x154.png 768w, https://console.kr-asia.com/wp-content/uploads/2020/04/1582270296086-8.png 1160w" sizes="(max-width: 685px) 100vw, 685px" /></a>
Kr: What are the opportunities of the alternative protein industry in Asia? 
AI: Historically, plant-based foods have always been present in Asian countries, so its not necessarily a new thing. Entrepreneurs today are becoming more creative and are bringing new kinds of plant-based foods to consumers. We've seen American-style products coming to metropolitan cities throughout Asia, like Hong Kong, Shanghai, Singapore, or Jakarta, with the introduction of products from Impossible Foods, Beyond Meat, and so forth. But we want to back companies that bring culturally relevant plant based foods to Asian markets, not American-style products.
For example, our portfolio company Karana makes plant-based pork dumplings that taste like a very traditional dish that you would have in China. This is relevant because through the creativity of entrepreneurship, it is possible to make tasty traditional foods that don’t have animal protein in it. Interestingly, I read a report that suggested that China will potentially be moving towards more plant-based meat alternatives due to COVID-19. Thus, the awareness and popularity of alternative proteins might happen faster in Asia.
Kr: Do these startups have different risk profiles from startups in other sectors? How do you find companies worth investing in?
AI: I’ve invested in a lot of different companies across sectors before, including software, marketplaces, and more. It is very difficult to predict which companies are going to be successful, it depends on the founders and the team involved in the business, regardless of the sector. We called our company “Big Ideas” because we support companies that have two things: First, they need to have idea, product, and technology that is big enough to positively impact the world. So we're not looking for companies that are going to do well in just Singapore, Indonesia, or the US, but for companies that have potential to make an impact globally. The second thing we look for is a great team. We believe that the magic ingredients to create world-class companies are a strong vision and a team that can realize that dream.
<figure id="attachment_69960" aria-describedby="caption-attachment-69960" style="width: 490px"

COVID-19 crisis could boost awareness about alternative proteins: Q&A with Andrew Ive, founder of Big Idea Ventures

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Q&amp;A

Singapore entrepreneur Fengru Lin is a cheese connoisseur. Several years ago, she was traveling to various dairy farms in Asia in search of good milk to make quality cheese when she stumbled upon the fact that there are many bad farm practices happening in the region. “I found that many farms pump a lot of hormones into the cows and their overall animal hygiene is bad, which reduce the quality of milk,” Lin told KrASIA in a recent interview.
While drinking plant-based milk like soy or almond milk can be a substitute for dairy products, they are not sufficient for other purposes, like making cheese, butter, or yogurt, as they don’t have the same chemical properties as dairy milk, according to Lin.
She then talked to her friend and technopreneur Max Rye, who told her there are many companies that successfully develop lab-grown meat and seafood from mammals' stem cells. “I asked him if we could use similar methods to make milk. He then introduced his friend, a cell biologist, Rabail Toor, and the three of us started to do lots of studies for this,” Lin continued.
After deep research, Lin, Rye, and Toor managed to achieve a breakthrough. They patented the technology and co-founded a startup called <a href="https://turtletreelabs.com/">TurtleTree Labs</a>, where they serve as CEO, chief strategy officer, and chief scientist, respectively. The turtle and tree in the company's name symbolize sustainability and longevity, according to Lin. "If you look at our logo, it looks like the cross-section of a tree but also resembles a turtle's shell as well as a thumbprint. So the whole brand symbolizes man’s print on nature,” she said.
Based in Singapore, the startup aims to address the value gap created by the insufficient and unsustainable animal-based dairy industry. The firm develops cultured milk products with cell-based methods. “Cell-based milk is created by extracting stem cells of the milk of mammals. We then proliferate these cells, which means we grow them to a large number and we’ll morph them into mammary gland cells. The cells will be put in lactation media and when they start to lactate, we’ll filter out the cells, so we’ll get the end product, which is milk,” she explained.
<figure id="attachment_65594" aria-describedby="caption-attachment-65594" style="width: 961px" class="wp-caption aligncenter"><img class="wp-image-65594 size-large" src="https://console.kr-asia.com/wp-content/uploads/2020/03/DSC06536-961x1024.jpg" alt="" width="961" height="1024" srcset="https://console.kr-asia.com/wp-content/uploads/2020/03/DSC06536-961x1024.jpg 961w, https://console.kr-asia.com/wp-content/uploads/2020/03/DSC06536-282x300.jpg 282w, https://console.kr-asia.com/wp-content/uploads/2020/03/DSC06536-768x818.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2020/03/DSC06536.jpg 1922w" sizes="(max-width: 961px) 100vw, 961px" /><figcaption id="caption-attachment-65594" class="wp-caption-text">Fengru Lin, co-founder and CEO of TurtleTree Labs. Photo courtesy of TurtleTree Labs.</figcaption></figure>
TurtleTree Labs claims to be the world’s first cell-based milk company. Lin said that the nutritional profile of cultured milk is identical to dairy milk because it is created with the same cells that are present in cows to produce the milk. “There is some cool stuff that we can do with the cells, for example, we can up-regulate the genes to produce less cholesterol or higher fat content when needed,” she said.
<h3>A solution for moms: Cell-based breast milk</h3>
TurtleTree Labs is able to create all mammalian milk, including human breast milk, which will potentially disrupt the infant formula industry. Lin believes that the demand for this type of milk is high. Many people are aware that breastfeeding is important, as breast milk has the best nutrients for babies, but many mothers cannot breastfeed for various reasons, and they sometimes turn to wet nurses. However, this practice carries risks, because recipients cannot ensure milk quality, which depends on the donor’s health condition and diet.
“Formula milk companies are trying to recreate breast milk using bovine powder and other formulations, while we produce something that is biologically identical to human breast milk nutritionally. And you can rest assured that there's a certain level of quality, especially since we’ll be partnering with dairy infant nutrition companies,” Lin added.
The firm believes that this is a sustainable method of sourcing milk. In developing their cell-based milk, TurtleTree Labs works with Singapore's Agency for Science, Technology, and Research (A*STAR) and the National University of Singapore. With these entities' support, the startup is building large-scale bioreactors to produce milk in large quantities in the future. The company has been able to create milk in their lab. For the next 16 to 18 months, they will be focusing on scaling production. The firm has 20 full-time team members who are mostly scientists working on this round the clock to facilitate production.
In the long run, TurtleTree Labs wants to be the biggest dairy company in the world that doesn't make dairy itself. The firm will maintain ownership of its proprietary technology and eventually lease out their process of creating milk to companies like Nestlé or Danone. The company is currently discussing potential partnerships with major infant nutrition brands, according to Lin. TurtleTree's principal revenue streams include licensing, consulting, and royalties. “Our business model is where we help existing companies or conglomerates using our method, therefore we can keep our capital expenditure low and we’ll become a knowledge-based company," she said.
TurtleTree Labs raised pre-seed funding in January, in a round led by Lever VC with participation from venture capital fund K2 Global and asset management firm KBW Ventures. The company will close its seed funding round soon, and it wants to build a pilot plant in Singapore this year that showcases technologies related to cell biology. The firm is currently working with the FDA for a license and the target launch date for its lab-grown milk is in 2021.
“With this demo plant, we’ll be able to invite dairy companies and manufacturers to see what the future of milk looks like. We’ll also start consultation projects to help them understand our current process and how we can help them to slowly migrate to our method of sourcing milk,” Lin said.
This article is part of KrASIA’s “Startup Stories” series, where the writers of KrASIA speak with founders of tech companies in South and Southeast Asia.

One-of-a-kind startup TurtleTree Labs is producing milk from cells: Startup Stories

Ten Israeli companies were listed among two separate lists highlighting the top 50 companies worldwide in the food tech and agritech (agriculture tech) sectors in 2020, put together by SVG Ventures-THRIVE and <a href="https://thriveagrifood.com/startups/thrive-top-50-agtech-and-foodtech-companies/#" target="_blank" rel="noreferrer noopener" aria-label="published (opens in a new tab)">published</a> by Forbes this week.
THRIVE is an ecosystem and an accelerator for food tech and agritech startups worldwide. The annual top 50 lists are published as map infographics and showcase “exceptional companies. . . pushing the boundaries of innovation and technology,” the publication said.
The companies on the lists “are scouted for their exemplary leadership teams, technology and traction and are selected following months of rigorous research by the SVG-THRIVE team.” To qualify, the publication wrote, companies “must have a product in market, have received a minimum of series A funding and be ready to scale.”
The 10 Israeli companies listed are:
– <a href="https://www.douxmatok.com/" target="_blank" rel="noreferrer noopener">DouxMatok</a>, a startup that developed a patented sugar reduction solution that retains the texture, sweetness, and appearance of sugar. The company <a href="https://nocamels.com/2019/06/israel-douxmatok-22m-sugar-reduction/" target="_blank" rel="noreferrer noopener" aria-label="raised $22 million (opens in a new tab)">raised USD 22 million</a> in a Series B funding round last year and appeared in the “food processing / novel ingredient” category in the top 50 food tech map.
– <a href="https://innovopro.com/" target="_blank" rel="noreferrer noopener" aria-label="Innovopro (opens in a new tab)">InnovoPro</a>, a startup that creates sustainable food products made from the chickpeas, including dairy and meat alternatives. This company, too, appeared in the “food processing / novel ingredient” class in the top 50 food tech map.
– <a href="https://www.hinoman.biz/who-we-are/" target="_blank" rel="noreferrer noopener">Hinoman</a>, a startup that develops and cultivates Mankai, a proprietary, protein-rich, whole-leaf vegetable grown using sustainable hydroponics.
– <a href="https://www.futuremeat.org/" target="_blank" rel="noreferrer noopener">Future Meat Technologies</a>, an Israeli company that develops lab-grown meat and is building <a href="https://nocamels.com/2019/10/future-meat-technologies-cultured-alternative-series-a/" target="_blank" rel="noreferrer noopener" aria-label="the first cultured meat production plant (opens in a new tab)">the first cultured meat production plant</a> near Tel Aviv. The company appeared in the “CPG (consumer packaged goods) and retail” category in the food tech map.
– <a href="https://www.tastewise.io/" target="_blank" rel="noreferrer noopener" aria-label="Tastewise (opens in a new tab)">Tastewise</a>, an Israeli AI-powered food trends prediction and intelligence startup. The company uses billions of data points from restaurant menus, online recipes, and social media to provide real-time insights, analytics, and food trends. It too appeared in the “CGP (consumer packaged goods) and retail” category in the food tech map.
– <a href="https://nocamels.com/2017/10/israeli-sustainable-packaging-group-raises-11m/" target="_blank" rel="noopener">TIPA Corp</a>, a developer of biodegradable packages for the food, drink, and fashion industries. The company recently <a href="https://nocamels.com/2019/09/sustainable-packaging-tipa-raises-25m/" target="_blank" rel="noreferrer noopener" aria-label="raised $25 million (opens in a new tab)">raised USD 25 million</a> to expand sales. Tipa appeared in the “supply chain” category of the food tech map.
– <a href="https://www.infarm.com/" target="_blank" rel="noreferrer noopener" aria-label="Infarm (opens in a new tab)">Infarm,</a> the Israeli-founded, Berlin-based developer of <a href="https://nocamels.com/2020/02/infarm-tech-micro-farms-fresh-produce-urban/" target="_blank" rel="noreferrer noopener" aria-label="modular smart farms that operate on IoT and machine learning technologies (opens in a new tab)">modular smart farms that operate on IoT and machine learning technologies</a> to grow fresh greens in urban settings such as grocery stores and restaurants. The company appeared in the agritech top 50 list.
<figure id="attachment_61632" style="width: 680px" class="wp-caption aligncenter"><img class=" wp-image-61632" src="https://console.kr-asia.com/wp-content/uploads/2020/02/shutterstock_1577082916-300x225.jpg" alt="Infarm" width="680" height="510" srcset="https://console.kr-asia.com/wp-content/uploads/2020/02/shutterstock_1577082916-300x225.jpg 300w, https://console.kr-asia.com/wp-content/uploads/2020/02/shutterstock_1577082916-768x576.jpg 768w, https://console.kr-asia.com/wp-content/uploads/2020/02/shutterstock_1577082916-1024x768.jpg 1024w" sizes="(max-width: 680px) 100vw, 680px" /><figcaption class="wp-caption-text">Kirkland QFC grocery store with its store-grown produce from Infarm. Source: Shutterstock.</figcaption></figure>
– <a href="https://www.cropx.com/" target="_blank" rel="noreferrer noopener" aria-label="CropX (opens in a new tab)">CropX,</a> an agriculture analytics company that developed an adaptive irrigation service to optimize irrigation. The company <a href="https://nocamels.com/2018/10/soil-sensor-cropx-world-israel/" target="_blank" rel="noreferrer noopener" aria-label="taps into the power of big data (opens in a new tab)">taps into the power of big data</a>, machine learning, and cutting-edge cloud-based software in the soil to boost agricultural output. CropX also appeared in the agritech top 50 list.
– <a href="https://taranis.ag/" target="_blank" rel="noreferrer noopener" aria-label="Taranis (opens in a new tab)">Taranis,</a> a precision agriculture startup that allows farmers to monitor fields and make informed decisions, also appeared in THRIVE’s agritech top 50 list.
– <a href="https://prospera.ag/" target="_blank" rel="noreferrer noopener" aria-label="Prospera (opens in a new tab)">Prospera</a>, a developer of computer vision technologies to monitor and predict plant health and development.
These Israeli companies joined major global firms in the round-ups, including the California-based Impossible Foods, which makes plant-based meat alternatives, and indoor farming company Bright Farms.
<h3>Israeli food tech and agritech</h3>
Israel has been delivering innovative startups operating in the food technology and agriculture technology sectors for the past decade. The country has been positioning

Ten Israeli companies listed among top 50 global agritech and food tech firms in 2020

Agritech