Enterprise Singapore — Slingshot

There are dozens of platforms for startups to take their innovations to the next level. From accelerator and incubator programmes to regional tech summits, opportunities for young startups have been aplenty across the tech spectrum and beyond.

But there is one you should not miss. Mark your calendars this November 2019 for one of the most exciting startup events of the year: SLINGSHOT 2019, an international deep tech pitching competition powered by Startup SG, organised by Enterprise Singapore.

Now open for entries till 28 June, the third edition of SLINGSHOT aims to provide promising startups a platform to launch their best tech and business ideas into the global market and offer deal-making opportunities.

Participating startups can pitch their ideas to 160 of the biggest VC firms, corporates, accelerators and incubators at SLINGSHOT 2019, which will be held from 11 to 13 November at the Singapore Week of Innovation and Technology (SWITCH 2019) in Singapore.

More than US$1 million worth of attractive prizes are up for grabs, including grants, cash, term sheets, corporate co-innovation offers, media packages, free workspaces and more!

At SLINGSHOT 2019, everybody’s a winner. The Top 100 Global Startups at this year’s competition will be entitled to the following:

(i) participation in SLINGSHOT’s three-day pre-competition workshop in Singapore, where they will receive one-on-one mentoring on how to hone their pitch and business model;
(ii) access to valuable investor, corporate and mentor networks within the vibrant Southeast Asia tech ecosystem;
(iii) free exhibition booth at SWITCH 2019 to display their offerings;
(iv) work visa to relocate to Singapore to further their innovations.

How past editions of SLINGSHOT have propelled participants to success

Alchemy Foodtech – Winner of SLINGSHOT 2018

Alchemy Foodtech

Last year, Singapore-based startup Alchemy Foodtech edged out more than 1,000 applications from 80 countries to emerge the winner of SLINGSHOT 2018. The startup was founded by Verleen Goh and Alan Phua, who took home the grand prize of a S$200,000 Startup SG grant.

Alchemy Foodtech’s winning product is 5ibrePlus, a diabetes-combating additive that lowers the glycemic index (GI) of food staples, without compromising on taste, texture or colour. Foods high in GI include refined white rice, noodles and bread, and can cause glucose levels to spike. Its product will be a welcome innovation in many countries, as diabetes is a growing healthcare concern worldwide.

Alchemy Foodtech is working closely with manufacturers to come up with healthier, lower GI variants of carbohydrate food stapes using their technology. Since winning SLINGSHOT 2018, the startup has been on a roll – they launched a new food tech laboratory, [email protected], and signed new partnerships with over 20 local and international companies, including Gardenia Bread and Lim Kee Food Manufacturing.

UMITRON – Second runner-up of SLINGSHOT 2018

UMITRON

Swimming towards sustainable aquaculture is fish farming data analytics startup UMITRON. Founded by Masahiko Yamada, the startup took home a S$100,000 Startup SG grant after clinching third place at SLINGSHOT 2018.

UMITRON, which operates in Japan and Singapore, uses Internet of Things (IoT) technology, satellite remote sampling, and artificial intelligence (AI) to optimise our earth’s finite aquatic resources. This includes optimising fish feeding to reduce operational costs of fish farmers, as well as providing reliable data for aquaculture insurance.

Since placing third at SLINGSHOT 2018, UMITRON has since secured a US$2 million project funding in Peru from the Inter-American Development Bank Group’s (IDB) Innovation Laboratory. The funding will be used to improve the local trout farming industry’s economic and environmental sustainability in Lake Titicaca, Peru.

UMITRON also launched their newest product UMITRON CELL, an automated feeding machine that can be used to monitor and feed fish. UMITRON plans to use their S$100,000 Startup SG grant to further develop their AI feeding technology, and explore global scalability of their solutions.

Sophie’s Kitchen – Winner of SLINGSHOT 2017

Sophie's Kitchen

In 2017, California-based foodtech startup Sophie’s Kitchen was crowned the inaugural winner of SLINGSHOT. The startup produces plant-based seafood alternatives that encourage healthier diets with the use of patent-pending technology.

Sophie’s Kitchen taps into the growing global demand for plant-based food, a market that is estimated alone to be worth over US$5 billion in the US. Their products are currently available in supermarkets in the US, Canada, France, and the UK, with the latter being the startup’s most recent entry.

“Through SLINGSHOT 2017, I learned first-hand how many talents and ideas are concentrated in this small but dynamic economy,” said Eugene Wang, Founder and CEO of Sophie’s Kitchen.

According to Wang, SLINGSHOT offered him as a foreign entrepreneur a new perspective on the opportunities present in the startup landscape in Singapore. Sophie’s Kitchen is now a Singapore-registered company and plans to move their head office to Singapore.

“The support from the government and private sectors is strong and steady,” said Wang. with regards to Singapore’s startup ecosystem. He added: “This is the first year that we are doing more business outside of the US. Making Singapore our new headquarters makes a lot of sense logistically.”

Since their SLINGSHOT 2017 win, Sophie’s Kitchen has successfully embarked on a key research and development (R&D) project — the conception of a super sustainable plant-based microalgae protein, which can be grown economically and environmentally, in tropical urban environments such as Singapore.

This newest microalgae protein product won the startup S$1 million in funding at last week’s annual Liveability Challenge in Singapore — another milestone in their journey towards promoting plant-based food.

Calling for entries: Apply to SLINGSHOT 2019!

Inspired by these stories of success? Want to take your startup to the next level? Then SLINGSHOT 2019’s just for you.

With the most important investors, corporates, industry leaders, mentors, media, and tech-savvy early adopters all gathered in one space, SLINGSHOT 2019 offers your startup a golden opportunity to connect with business and funding opportunities in the region. Don’t miss your chance to strike the deal of a lifetime.

SLINGSHOT 2019 is now open for applications. Apply here by 28 June 2019!