Soyato Leads The Frozen Soy Way

It is every girl’s (and boy’s) dream to enjoy the pleasures of ice cream without the accompanying guilt. An age of scientific progress, together with the bombarding of media images, inculcates in us a degree of health-consciousness. This is complemented by a proliferation of frozen yoghurt shops in Singapore, such as Frolick and Yoguru, an indication of a shift in consumer preference. However, can the lightly masked sourness of yoghurt really replace the wonderful flavours of ice cream? As Verleen Goh, the young founder of Soyato, mentions, even chocolate is sour.

Frozen soy

Verleen and her business partner Alan Phua are offering Singapore a solution, a guilty pleasure without the guilt – frozen soy. The Start-Up@Singapore (S@S) Public Relations department met up with the two young entrepreneurs who won S@S in the open category last year. Despite their busy schedules devoted to their start-up, Verleen and Alan shared with us many insights regarding the business and their experiences of entrepreneurship.

The main selling point of Soyato is the innovation of frozen soy. Its conception was based on the popularity of both ice cream and yoghurt. Perceiving a gap between the two products and realising the limitations of a female-oriented yoghurt market, Verleen and Alan developed the notion of a soy-based dessert free of both milk and eggs.

Their product is in fact even healthier than commercial yoghurt, which masks its sourness with high sugar content. With soy milk as its base, not only can Soyato cater to pockets such as the vegan, vegetarian and lactose intolerant, they provide for anyone who enjoys their ice cream but prefers a healthy alternative. Simply put, Soyato is giving us the best of both worlds.

Future plans

Beginning with nothing but an idea like any other start-up company, Soyato has developed a concrete business plan for expansion. From 4 basic flavours, the dessert now comes in 20 different tastes. They are also opening their first retail store by the end of 2010. When asked about their vision for the company, Verleen and Alan expressed plans to open 3 stores in 1 ½ years and penetrate not just Asian but Western markets.

A strong foundation is required for success

As young graduates, they have big and admirable plans for Soyato. Yet, their ambition and verve are complemented by a cautious awareness that a strong foundation is required for success. Verleen and Alan recognise the need to resolve issues with back-up operations before expansion can be materialised. To tackle foundation operational issues, they have thought of pre-packing ingredients in the production process as to ensure consistency and a high level of quality. However, they also realise the ‘people factor’ is the most difficult problem to work on.

Advice to aspiring entrepreneurs

What advice do Verleen and Alan have for budding entrepreneurs? They encourage young students to have a vision. It is never too early to plan for your business. They also advise youths to join business plan competitions. The process of such a competition forces one to think through concrete plans to implement one’s business idea. Winning the competition is not as important as getting the feedback necessary for start-up companies. Also, a competition imposes a deadline, which forces the participants to stay on track with development.

Verleen and Alan were themselves final-year students when they participated in Start-up@Singapore 2009. S@S has provided them with opportunities to develop their business route and to create a plan that is more than just a product. Even after the competition, they were placed in many settings to conduct networking. Sometimes working at the National University of Singapore incubation hub, they have also received much help from the school.

Throughout the interview, Verleen and Alan were both eager to share their experiences and ideas. We hope to see many more of such young innovative talents to contribute to Singapore’s entrepreneurial landscape.