Leading venture accelerator Brinc and Asian culinary platform DayDayCook have announced they will be investing $10 million in sustainable, animal-free foodtech companies through the Good Food Accelerator Program.
The program, operated by Brinc, will help to fund 45 startups over the next three years. Additionally, Brinc has invested $500,000 in DayDayCook, bolstering the alliance between the two companies.
“We are excited to support more founders who are looking to scale alternate protein products”
Applications for the accelerator program are now open. Successful startups will receive at least $200,000 and will gain access to Brinc and DayDayCook’s network of later-stage investors, both during and after the program.
Applicants should be commercially-ready and either located in or looking to enter the Greater China or Asian market. Example investment themes include Alternative Protein, Functional and Novel Ingredients, Sustainable Packaging, Food Supply Chain Innovation, and consumer AgriTech solutions.
Plant-based investments by Brinc
The Good Food Accelerator Program is not the first one Brinc has helped to operate. In 2020, the company joined forces with Lever VC to launch a joint investment fund and accelerator program for Chinese alt-protein startups.
Called the Lever China Alternative Protein Fund, the program has helped several notable companies find success, including Hero Protein, Haofood, and Avant Meats.
“We are excited to support more founders who are looking to scale alternate protein products and deep technologies from around the globe to the world’s most populous market while further developing a growing food tech ecosystem across Mainland China and the Greater Bay Area,” said Manav Gupta, founder and CEO of Brinc. “Addressing deep-rooted inefficiencies in our regional and global food systems, creating a sustainable food supply chain, plus tackling food security issues all in all help mitigate against the growing effects of climate change — which is the need of the hour and our lifetimes.”