BIFC - bigideaventures

What is the Big Idea Food Competition?

Are you building a company or product which can change the world? If you’ve created a plant-based and fermentation-based alternative to meat, seafood or dairy, we want to hear from you. If you are based in Singapore, Thailand, Indonesia, China, Korea or Japan you’re invited to compete in the Big Idea Food Competition!

We want to discover and support you if you are changing the world through a food startup focused on new protein. The Big Idea Food Competition, created in partnership with Informa Markets, will take place in six countries throughout Asia this year, with the Finals being held in Singapore April of 2023. The BIFC will bring you together with supporters such as corporates, food leaders, experts and investors across the region.

The competition has two stages and gives you an opportunity to develop your business, pitch your ideas and present your products to experts and judges from the food industry.

Phase I: National Competitions

The best five startups will be selected from each country to compete to crown the national champion. The national champions will be asked to compete in the finale in the final location. We will be hosting online / virtual competitions in four countries: Thailand, Korea, Japan, Indonesia and two in-person competitions in Singapore and China.

Phase II: International finals

The finals will take place in 2023. Winners from each country will pitch, present their products, and prepare tasting for the panel of judges and experts from the industry. Startups will be judged on their business pitch and the quality of their culinary application of product.

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The rules

To qualify for this competition, your company must fit the following criteria:

Plant-based and/or fermentation-based startup in the meat, seafood or dairy industry
Business must be registered in one of the participating countries
Pre-seed or seed stage only
Pilot stage to post revenue companies are welcome
No institutional investments (less than USD$ 500,000) on cap table
Startup must have pilot product, safe to consume and tested
Must have enough product to test and ultimately present during the competition
Should not already be a BIV portfolio company whether now or anytime before BIFC grand finals in Q1 of 2023

The prizes

The Grand Prize

The ultimate winner of the BIFC compeition will receive a USD$ 200,000 investment package from BIV and automatic inclusion into Big Idea Venture’s Cohort #8 accelerator program based in Singapore. Find out more about BIV’s global accelerator program here.

Additional prizes include:

Sponsored Trip and 4-Day Alt Protein Program in Singapore For BIFC Finals 2023

One Day Production Run at SG Protein for the Singapore Edition Winner

Tastelab Workshops and Executive Pitching with Classic Fine Foods

One Month Product Trial at a Saladstop! Singapore flagship location

Account Support from GoodFoodPeople B2C Plant-Based Marketplace

Business Matching Support from Competition Parnet Saladplate

Timeline

Locations

Apply Now

Applications are now closed.

If you have a query, please email us at bifc@bigideaventures.com.

Get inspired by BIV portfolio companies

Karana is a whole-plant meat company with a vision for a world where plants dominate our plates. Where you don’t have to choose between taste, health or sustainability. Karana takes natural, whole-plant ingredients and does extraordinary things with them, creating irresistibly meaty products without the need for heavy processing or artificial nasties. Starting with a pork alternative which they also turn into delicious Asian Dim Sum, your favourite dumplings and baos now made from whole-plants…No protein isolates, concentrates or texturates…No preservatives or artificial flavors…No long ingredient lists…Whole-plant, no meat, all taste.

Haofood s a food science and technology startup with a mission to sustain happiness from good food forever. With cutting edge technology and science, Haofood is working to produce food in a smarter and more sustainable approach, to fulfill our protein needs today, tomorrow and in the future. They are a pioneer, using peanut protein as the chief ingredients for their first innovation of plant-based chicken. Based in Shanghai, Haofood was founded in2020 and currently has a presence in over 2,500 outlets in China.

Grounded Foods Co. creates Cheese-Free Cheeses using two of nature’s superfoods: fermented cauliflower and hemp seed. Their products are free from dairy, nuts, soy, gluten and GMOs. The company will launch their first range of products via direct to consumer sales in November 2020, and quickly follow up with the release of their second-tier range, developed specifically for retail and convenience outlets.

What is the BIFC?

BIFC stands for The Big Idea Food Competition. With this event we discover and support the best entrepreneurs in the competing countries! That’s you! If you are interested please apply through the Apply Now button above.

Who is eligible to participate in the competition?

To qualify for this competition, your company must fit the following criteria:

Plant-based and/or fermentation-based startup in the meat, seafood or dairy industry
Business must be registered in one of the participating countries
Pre-seed or seed stage only
Pilot stage to post revenue companies are welcome
No institutional investments (less than USD$ 500,000) on cap table
Startup must have pilot product, safe to consume and tested
Must have enough product to test and ultimately present during the competition
Should not already be a BIV portfolio company whether now or anytime before BIFC grand finals in Q1 of 2023

How do I enter the competition?

Click here to access the BIFC application form.

Where will BIFC be taking place and when?

National competitions:

- Singapore – Food & Hotel Asia (Event date Sept 5th) Kickoff Event***
- Japan – 5th October 2022 – online program only
- South Korea – 19th October 2022 – online program only
- Thailand – 2nd November 2022 – online program only
- China – Shanghai Hi&Fi Expo (Event Date Nov 9 2022)
- Indonesia – 23rd November 2022 – online program only

International Finals in April 2023 in Singapore.

What is the USD200,000 investment package?

The investment package from BIV is broken into a USD125,000 equity investment into your startup and an additional USD75,000 in in-kind services per investment for access to the accelerator program, office space, lab support, and events and other services. This BIFC Finals winner will also automatically be entered into BIV Cohort #8 based in Singapore, kickoff July 2023. If you would like more information about BIV’s accelerator company investments please read here.

Who are BIFC’s partners?

Click here to find out more about the amazing organizations supporting BIFC this year!.

Can I watch the competitions as an audience member?

Yes you can! We will be opening audience registration very soon and announcing it on our social media pages so stay tuned. Follow us on Linkedin or Instagram.

Is there a way for me or my organization to be a BIFC partner?

We are always happy to welcome new partners to join the BIFC community! Contact sumona.chaudhuri@bigideaventures.com to find out more.

What are the prizes of BIFC?

Click here to find out more about the attractive prizes your team can win by joining BIFC!

Who are the judges of BIFC?

We will be announcing the judges of the competitions very soon so keep an eye on our social media to find out more! Follow us on Linkedin or Instagram.

Can I withdraw my BIFC application?

We are sad to see you go and hope to see you next year! Contact sumona.chaudhuri@bigideaventures.com to withdraw your application from BIFC.

Event & Platform Partners

Saladplate is the premier international wholesale marketplace for sourcing food, beverages and hospitality products globally. We are a group of enthusiasts dedicated to Food & Hospitality industry for more than 40 years, ready to support you with our unique O2O solution backed by 24 trade shows in Asia and over 2 million professional buyers and suppliers. We offer the mobile-first onestop solution from branding to sales and marketing coupled with superb lead-to-order conversion rate, streamline order management and real-time reports. More than just a business platform, we aspire to foster a 24/7 community in which all industry professionals are connected. We have you covered for industry insight, knowledge and opportunities. For more, click here.

Held from 5 – 8 September 2022 at Singapore Expo, FHA-Food & Beverage is the platform of choice for industry professionals, including distributors, importers, manufacturers and retailers from Asia to see and source for food ingredients, drinks, fresh produce, services and equipment across Food & Beverage, Food Ingredients and FoodTech. The Alternative Protein Asia area, stretching over 800 sqm (or 8000 sqft), will feature a large range of exciting exhibitors, the New Protein Bites – Tasting Bar (Sample Bar) to discover emerging products, a dedicated Alt-Protein Start-ups Village for entrepreneurs and the Alternative Protein Asia Theatre hosting a four-day content program including culinary demonstrations. The future of food seminars provide roundtables, pitching sessions, educational presentation, showcases all around the now & next of alternative protein. The APA will also host the Big Idea Food Competition (BIFC) run by the venture capital firm Big Idea Ventures with the winning start-up taking USD 200,000 in investments. Find out more here.

FHA-Food & Beverage is organised by Informa Markets, a division of Informa plc. Informa Markets creates platforms for industries and specialist markets to trade, innovate and grow. We provide marketplace participants around the globe with opportunities to engage, experience and do business through face-to-face exhibitions, targeted digital services and actionable data solutions. We connect buyers and sellers across more than a dozen global verticals, including Pharmaceuticals, Food, Medical Technology and Infrastructure. As the world's leading market-making company, we bring a diverse range of specialist markets to life, unlocking opportunities and helping them to thrive 365 days of the year. For more information, please visit www.informamarkets.com.

Support Sponsors

Singapore based Saladstop! will provide one (1) judge to the Singapore competition in addition to providing insights into the growing demand from consumers focused on finding alternative proteins at healthy QSR restaurants. Saladstop! will be providing a trial run at their flagship restaurant 2.0 location in Singapore for one month after the finals in 2023, with an option to continue the relationship after. For more, click here.

Classic Fine Foods will be the main distribution partner for the BIFC Singapore 2022, with a focus on working with the startups to understand how to get their products into the hands of chefs and restaurateurs from across SE Asia. For more, click here.

Nestle’s Singapore based R&D center will provide the competing startups with complimentary consultations around flavor and formulation, in addition to gaining access to founders via pre-competition workshops and seminars. For more, click here.

Singapore based SGProtein will provide the first place winner with a one-day production run using their state-of-the art extruder while also providing two (2) consultation sessions. SG Protein will also provide one judge to the panel. For more, click here.

Local Partners

Ultra Indonesia is engaged in the field of research and development for Food SMEs (Small and Medium Enterprises) and currently focuses on the culinary industry. Ultra assists Ultrapreneur in Indonesia by informing comprehensive and relevant knowledge, mentoring at every step, connecting with the ecosystems needed, and finally providing added value for the creative economy in Indonesia. For more, click here.

LLP-KUKM was established in March 2007 and provides promotion and marketing services for Indonesian SMEs. For more, click here.

HAE is a creative consulting and content agency based in Seoul, South Korea. We work with sustainable brands, communities, NGOs and the government sector and provide branding, marketing, content creation, education, and event services that contribute to the wellbeing of humans, animals, and the environment, hence our name, HAE.

Located alongside Hi China, Fi Asia-China offers you acess to a wide selection of leading food and beverage ingredients suppliers who will be on hand to meet your market demands. For more, click here.

Hi China is the dedicated area for sourcing health and natural ingredients. With more than 350 leading local exhibiotors, Hi China is the largest meeting place for the health ingredients industry in China. For more, click here.

Shanghai Sinoexpo Informa Markets International Exhibition Co., Ltd. is the first joint venture exhibition company in China founded by Informa PLC- World’s Largest Events & Exhibitions Organisers and Shanghai Sinoexpo International Exhibition Co., Ltd in 1998. The total area of our trade shows covered 1,500,000 sq.m in 2019, which provided countless trade opportunities for millions of buyers coming from all over the world. For more, click here.

Plan V - a vegan lifestyle social media channel that aims to provide inspiration and comfort for a healthier and more sustainable way of living. For more, click here.

Thailand Food Innopolis is a global food innovation hub focusing on research, development and innovation for food industry. It is fully equipped with qualified human resources and facilities to support food producers of all scales, be it local, regional, or global. We provide a platform to strengthen your business and also to innovate your food industry. For more, click here.

Enterprise Singapore is a statutory board under the Ministry of Trade and Industry of the Government of Singapore. It was formed on 1 April 2018 to support Singapore small and medium enterprise development, upgrade capabilities, innovate, transform, and internationalise. For more, click here.

The undergraduate degree in Food Science and Technology covers the full educational spectrum of food science and food technology, with a focus on four themes: food quality and safety, new food product innovation, food processing, and nutrition. Food Science is the discipline in which biology, physical sciences, and engineering are used to study the nature of foods, the causes of their deterioration, and the principles underlying food processing. Food Technology is the application of food science to the selection, preservation, processing, packaging, distribution, and use of safe, nutritious and wholesome food. For more, click here.