AAA (Across Asia Alliance) Korea Forum Investor Meetup with ID Capital, co-sponsored by Bigbang Angels and Seoul Agri-Food Venture Startup Center under Foundation of Agri, Tech, Commercialization & Transfer, was held on February 12 at Sparkplus Seolleung Branch.
Bigbang Angels is the hosting organization of AAA, a global startup information sharing platform with investors from 10 cities. It is a platform for startups, investment companies, and companies that wants to grow with early-stage startups to provide cross-border networking, program, and investment in the Asian market.
As part of the AAA, this event invited ID Capital, a Singaporean venture capital that specializes in investing in agritech and foodtech. The event consisted of Part 1: Demo Day, Part 2: Introduction to ID Capital and Future Food Asia (FFA), and Part 3: Participation in AAA and Networking.
The co-host Seoul Agri-Food Venture Startup Center (Head Eom In-yong) is the agency with the mission to foster agricultural and food tech venture companies and create good quality jobs, which has invited 30 people among its network of investors and agritech and foodtech startups. The four agri-food startups that participated in Part 1: Demo Day are as follows.
The Bread Blue (CEO Mun Dong-jin)
The Bread Blue is the vegan bakery that makes delicious bread without using any animal ingredients such as eggs, milk, and butter. Even people who are allergic or children can enjoy bakery without sacrificing health. Aiming for health and safety, it is making fresh bread everyday with carefully selected ingredients.
Marine Innovation (CEO Cha Wan-young)
Marine Innovation is a company that develops eco-friendly materials such as plastic and wood substitutes using extracts and by-products of seaweed, which is an eco-friendly material. It has launched Dalharu, its sweet red bean jelly made with ceylon moss from Jeju. Dalharu is one of the Korean desserts that is being rediscovered by the recent craze of newtro. It is rich in dietary fiber, and a portion of the profit from sales will be donated to environmental organizations.
Brewguru (CEO Park Sang-jae)
Brewguru is a manufacturer of Kombucha, a healthy soft drink with sweet and sour flavor made by sweetening green tea and black tea and fermenting it with good bacteria. It is the company established by the CEO who is the world champion of beer brewing and experts from other areas, always thinking about the new drinks for a healthy and trendy lifestyle.
Firmmit (CEO Park Seon-gi)
The modular plant factory developed by Firmmit is packed with the latest smart farm technology. It uses red and blue LED lights that are suitable for crop growth, along with white visible light to reduce eye fatigue. The modules can be easily added by using the patent-pending O-ring, and it creates a good environment for growing plants with remote control and monitoring.
In the second session, FFA (Future Food Asia) 2020 was introduced by ID Capital. The CEO of ID Capital said, “FFA 2020 will contribute to entrepreneurship and innovation in the agri-food tech sector in the Asia-Pacific region,” and continued, “We will also present the Plant Protein Innovation Award, sponsored by the Bühler Group and Givaudan for the first time this year.”
In the last session, Bigbang Angels CEO Hwang Byeong-seon gave a presentation on how to participate in AAA 2020 program. Hwang said, “Startups are limited in their growth because it cannot go beyond niche market in just one country’s market. Across Asia Alliance is aiming at solving this problem by building a platform made by highly reliable investing companies, big corporates, accelerators, incubators, public institution’s platform located in startup hub cities.”
Bigbang Angels, which hosted this event together with Seoul Agri-Food Venture Startup Center, was established in 2012 and attracted investments for 80 companies including Lezhin Comics, Zipdoc and Cremotech. The enterprise value of its portfolio companies amount to more than 400 billion won, successfully attracting the cumulative investment of 100 billion won, aiming to become unicorn companies. It is aiming at finding 10 companies that are worth 100 billion won over the next 10 years.