Investing in Indonesian entrepreneurs of food tech startups

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ABOUT

NEWFOOD 2020 (NF 2020) is a collaboration between Float Foods Singapore x Ultra Indonesia to invite the best Indonesian plant-based and food-tech companies to submit their food innovation.

The goal is simple - to help Indonesian entrepreneurs develop and scale their products and food innovation for Indonesia, and for countries outside Indonesia.

NF 2020 is investing & licensing up to 10 of the strongest performing Indonesian companies through Float Foods Singapore.

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THE SEARCH OF

NEWFOOD 2020 is looking for Indonesian plant-based alternatives to animal products and food-tech companies that are involved in categories such as plant-based food technology, alternative proteins and novel packaging solutions.

  • Company must have minimum viable product that provide solution to a problem.

  • Company must have intention to grow and scale the business.

  • The product must have competitive advantage.

  • Company must have impact of value proposition.

  • Company must focus on growth perspective.

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SAMPLE OF

PLANT-BASED MEAT

Food companies that provide meat made from alternative proteins or plant-based ingredients such as mushroom, jackfruit, etc.

The solution given should address the environmental impact of our current food production and to create a sustainable food supply that does not harm the planet.

PLANT-BASED MILK

Food company that provide milk from plant-based like almond, oats, cashew, etc.

The solution given is to reduce the negatives that comes from conventional milk consumption and provide better results to health and environment.

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TIMELINE

OPEN CALL

31 Aug 2020

31 Aug
2020

Open Call

25 Sep 2020

25 Sep
2020

Close Registration

1st PITCH

1 Oct 2020

1 Oct
2020

Announcement of pre-selected companies

5-9 Oct 2020

5-9 Oct
2020

1st Pitch to curate 30 selected companies

MENTO RING

19 Oct - 13 Nov 2020

19 Oct -
13 Nov 2020

Online mentoring on food business re-engineering & finance

DEMO DAY

16 - 17 Nov 2020

Online Demoday to select 10 strongest companies

INVESTMENT

20 Nov 2020

20 Nov
2020

Investment of fund and services to 3 selected companies

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FOOD BUSINESS RE-ENGINEERING MENTORING

20 Days Online mentoring, executed daily between 30 curated companies - Ultra Indonesia + Float Foods Singapore @ 2.5 hours per day. All participants must follow and submit their mentoring reports on scheduled basis for analytic data in preparation for investment.

Week 1 - Food Business Roadmap & Design Thinking :
Value Proposition Canvas, Prototyping & MVP, Research & Development, Business Model Canvas, Milestones, Business Plan, Pitch Deck, Holistic Plan.

Week 2 - Distribution :
Distribution Channel, Distribution Plan, Supply Chain.

Week 3 - Marketing :
Branding & In depth marketing.

Week 4 - Legal & Human Resource :
Intellectual property, investment, licensing, organization structure, good manufacturing practice, labour law.

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FINANCE & INVESTMENT READINESS MENTORING

20 Days Online mentoring, executed daily between 30 curated companies - Ultra Indonesia + Float Foods Singapore @ 2.5 hours per day. All participants must follow and submit their mentoring reports on scheduled basis for analytic data in preparation for investment.

Week 1 :
COGM & Price Structure, Production Metrics, Cost Structure.

Week 2 :
Business Prospectus, Financial Reports, Financial Metrics.

Week 3 :
Financial Projection, Financial Analytic, Tax.

Week 4 :
Company Valuation & Investment.

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DEMODAY

Online Demoday NewFood 2020 will be executed to select 3 strongest performing companies. The Best 3 will have the prizes as initial investment.

Up to US$ 20,000 in funding & services to each Best 3 NF 2020 in exchange of 20% equity to Ultra & Float Foods and licensing right to Float Foods for outside Indonesian market.

The next stage investment to 10 strongest performing companies can be up to
US$ 50,000 in funding & services and executed partially depending on their growth & performance indicator

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INTELLECTUAL PROPERTY & LICENSING

NF 2020 will protect the original Intellectual Property remain in Indonesia until further development of the product is executed outside Indonesia.

If such alteration of the product is needed outside Indonesia, then there will be changes on the original Intellectual Property and modification of the ownership will be change accordingly.

When the companies ready for outside Indonesian market, licensing agreement will be done between Float Foods Singapore and invested company.

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FOUNDER

Vinita Choolani

CEO Float Foods Singapore

Float Foods Pte Ltd
1 Magazine Road.04-11
Central Mall, Singapore
059567

Agung Nugroho

CEO Ultra Indonesia

PT. Ultima Rasa Akselerasi
Jl. Palagan Km 7 No 33
Sleman DIY 55581
Indonesia

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