Next Gen Foods is opening its first-ever global R&D and innovation centre in Singapore in partnership with the Food Tech Innovation Centre (FTIC), established by Asia Sustainable Foods Platform, a company wholly-owned by Temasek.
Next Gen Foods will become the first partner to establish an R&D hub within the FTIC. Set to open in late 2022, FTIC will act as both an accelerator for young and emerging food tech start-ups and companies in hypergrowth, offering access to pilot facilities, lab and research equipment, test kitchens and co-working spaces.
FTIC will house the company’s full-time R&D and technology teams based in Singapore. Next Gen Foods intends to expand its team of protein scientists and food technologists with ingredient and product development expertise, accelerate hiring and double its open R&D roles next year.
The facilities inside FTIC will become Next Gen’s launchpad for the development and trial of new products, as it expands its portfolio of plant-based foods for consumers around the globe. FTIC will serve as the start-up’s primary research and development centre for patented, long-term product and ingredient innovation. The first-of-its-kind construction in Singapore, the opening of FTIC marks a milestone in the country’s commitment to generating new food tech discoveries and innovations, in order to solve the world’s growing climate crisis.
Next Gen Foods plans to also expand its R&D and innovation capabilities across the globe – including setting up satellite research centres in key markets such as the United States and Europe to further develop future applications of TiNDLE and other new plant-based products.
Next Gen Foods is funded by a $30m investment from Asian and American venture capitalists, the largest initial round ever for a plant-based food startup. Investors include Temasek, K3 Ventures, NX-FOOD and Global Fund GGV Capital – as well as prominent personalities such as business guru Chris Yeh. In addition, support for TiNDLE is growing in Europe, with famed English footballer Dele Alli recently joining as an independent investor to Next Gen Foods.