Hong Kong VC to launch $3m foodtech accelerator with Europe’s Blue Horizon

Brinc, a Hong Kong-based accelerator and venture capital firm, has partnered with European fund Blue Horizon Ventures to invest over US$3 million in global foodtech startups.

Photo credit: Brinc

Horizon Ventures will invest through Brinc’s new Scaleup Program to help early-stage firms grow throughout Southeast Asia and Greater China, according to a statement. The cross-border project is set to run between Singapore and Hong Kong.

Brinc said it chose Singapore because of its government’s  support and regulatory framework and Hong Kong for its ease of access to capital and proximity to China.

The VC firm has outlined three key objectives for the new program, including helping startups expand and plug into commercial opportunities across Asia Pacific. Brinc also plans to support startups that have recently graduated from seed-stage accelerator programs and help drive global food systems innovation through technology.

Under the program, the accelerator will provide startups access to food scientists, retailers, manufacturing and distribution partners, as well as facilities and resources. They will also be connected to Brinc and Blue Horizon Ventures’ network of investors, commercial partners, industry experts, and mentors.

The two firms will also team up to invest a minimum of US$250,000 in seed-stage startups. This will extend capital to companies invested through Brinc’s flagship Food Tech accelerator in Hong Kong and its China Alternative Protein accelerator in Shanghai, which is backed by LeverVC.

Since being founded in 2014, Brinc said it has invested in over 200 companies. Out of that number, 30 are foodtech firms working on alternative protein, cellular agriculture, and other upstream technologies.