The Future of Food Tech (Livestream)

[Music] foreign [Music] [Music] thank you [Music] [Applause] foreign [Music] [Applause] [Music] thank you [Music] [Applause] foreign [Applause] [Music] foreign [Music] foreign [Music] thank you [Music] good morning everyone welcome to typhix Anoka Asia 2022 I'm saying hello to my audience here as well as my audience on Facebook live on our official page so there are thousands of people watching right now saying hello from Thailand and I also learned that there are both Thai audience and international audience on my Facebook live so sorry to cut into colors today is the fourth day of typhix Anoka Asia 2022 but we still have tomorrow as the final day which is a public day we will be opening for public to come and enjoy into our 19th Edition this year we are bringing to you a special hybrid Edition tafex ruga Asia 2022 keeping the unique concept of 11 trade shows Under One Roof the show connects the FNB ecosystem within one Mega show Jolly organized by the department of international trade promotion the ITP the Thai Chamber of Commerce TCC and Cohen message from Germany in the hybrid edition of trade show combining both offline and online elements this 24th to 28th of May this year trade show combines on-site and virtual elements such as live streaming virtual business matching and virtual trade show platforms this year's tagline is re-imagining the future of food and it is with this in mind that our priority is to focus on inspiring to trains and Innovations but more importantly importantly connecting you with the right business partners all right we're going to go through the first topic of the day this is going to be a session of three speakers who are going to talk about the future of food Tech food is now technology kuntony Hunters trademark presentation will show you how food Technologies are advancing exponentially and how they are dominating and fundamentally changing the industry hear from him to prepare your business for the alternative Futures and how this understanding on future trajectories can be used to take decisive action to gain a competitive advantage this session will be followed by a conversation with key players in the industry to explore the technological changes in real life the imperative for Innovation and where will future technology take us in the next decade so not to waste your time I'm going to invite our first Speaker of the day May I please invite Kun Tony Hunter for features of future cubed [Music] good morning everyone well I've titled my presentation here reimagining a global food system because as we've just heard we need to do that in order to keep up with all the technologies that we're seeing here at typhaxanuga now we're going to have 10 billion people on the planet by 2050. now some people will say that that's a problem I say we're at a once in a generation Crossroads opportunity and that opportunity is to fundamentally reimagine the global food system but to do that we need to address the underlying problem in that there's simply not enough arable land or fresh water on the planet to feed everybody the way that we do in food rich countries and particularly countries like the US Australia and Europe so how do we overcome this problem of having enough food to feed 10 billion people by 2050. well some people will say that well we already grow enough food on the planet all we need to do is to redistribute that food we just need to send it where it's needed and that's basically what the World Resources Institute says here basically if you're eating too much stop eating too much and send it to other people now what I say is we've been telling people in Europe Australia and the US for decades don't eat so much food or you will die of Lifestyle related diseases how's that been working and now we think we're going to tell people in food rich countries that please stop eating as much food so we can send it to other people to eat I simply don't see that working now other people say well if we reduce food waste then that's how we're going to feed the planet and I think that reducing food waste is a really important component of feeding the planet now my issue is I don't think it's going to happen fast enough particularly consumer food waste if we look for instance at the UK self-reported food waste under all their lockdowns and covered basically dropped dramatically but as soon as the lockdown's finished in 2021 food waste came back up to 2018 levels so I think particularly from a consumer point of view we're looking at generational change that's going to be required to address food waste and if we look at that generationally what that means is education of the food supply chain from Farmers restaurants supermarkets consumers Etc is what's really really important to get a long-term impact out of reducing food waste so if I'm saying those couple of things might not work what's the alternative well my alternative is that we equitably distribute the means of production so we don't just simply produce food use new technologies in food rich countries and ship that to countries that are food poor we actually distribute the means of production and that's viable for a lot of these new technologies because they use either very little or no arable land and fresh water it's also viable for countries that are growing their food system because as they grow their economy and they grow socially they can actually adopt new technologies now the best example of this is actually from outside the food industry and that is believe it or not telecommunications technology in Kenya now in 2002 Kenya needed to dramatically improve its Telecommunications did they go out and dig thousands of kilometers of trenches fill them with copper wires build exchanges create a new handset manufacturing industry of course not all they did was to put in some cell towers make available simple smartphones and they leapfrogged 100 Years A Century of telecommunications technology in a decade now why can't we do that for the food system I see no reason why we can't apply similar logic to food and yes the current food system has been quite successful in feeding a lot of the planet but it's not without its problems we have massive resource usage we have pollution of our waterways our oceans and our seas and significant greenhouse gas emissions so we still need to do something and these new technologies promise to deliver more food whilst not having the same level of impacts on the planet as conventional agriculture and yes some of these new technologies are going to talk about they can seem a little bit um a little bit scary but you don't want to be like this guy here it's not that scary so one thing we have to realize is that the only thing constant is change and the rate of change is never going to be slower than it is today and I first noticed this back in 2017 just five years ago I started to notice many many more articles I was reading on new food Technologies and I started to dig deeper into these Technologies I started following them and with years of research I've come to the conclusion that we're at the intersection of five exponential Technologies which are accelerated by three accelerator exponential Technologies and it's the intersection of these Technologies it's going to drive the future of food for decades to come and many of these Technologies don't come from the food industry they come from medicine biotech engineering and more so what are these five Technologies well there are alternative proteins cellular agriculture genomics the microbiome and synthetic biology and our three accelerated Technologies which are driving these exponential Technologies are AI Quantum Computing and sensors all leading to what I call the exponential food future now some people will say wait a minute alternative proteins cellular Agriculture and synthetic biology aren't they all the same well no they're not cellular Agriculture and synthetic biology can produce alternative proteins but as we'll see they can do a lot more than that and secondly you know I haven't got conventional agricultural Technologies or animal agriculture Technologies on my model because whilst they're going to be around for quite a while they are not going to be the key drivers to the future of food so my exponential future is built on two key ideas the first key idea is that food is now technology technology is everywhere in food it's no longer just about products and consumers you need to take into account the technologies that are available and how those Technologies are going to affect consumers and products and a consequence of viewing food as technology is that Technologies are exponential they Advance exponentially and that's critical because we humans are linear creatures an hour is an hour a week is a week a year is a year and even though we might feel that sometimes time goes faster or slower it doesn't really it's all the same so humans are linear technology is exponential and that makes it a difficult concept for humans to follow so what's the consequence of these two key results that's food is now Technologies advancing exponentially food is now exponential and a good example of this in the food industry comes from the alternative protein or it was called back in 2018 the new meat landscape back in 2018 these were virtually all of the companies globally that word making alternative protein products that's it that's not even four years ago so just over four years ago if we fast forward three years that is the same landscape now I've never seen such rapid growth in a new food ecosystem in all my time we really are seeing exponential growth and you might ask me why are you showing me 2021 Tony and not 2022 can't fit them all on one landscape in 2022 or if I did you'd be steering at colored dots on the screen that's how fast the industry itself is is growing so what I want to do today is just touch on the three food technologies that are part of my tax financial model so that's alternative proteins cellular Agriculture and synthetic biology and if we look at our first category of alternative proteins it used to be nice and easy animals plants and we let corn from the UK with their mycoprotein an honorary plant member but that was easy but as we'll see it's no longer nearly as easy just to separate out into animal and plant we have for instance what's called biomass products now anyone who's been anyone been to Australia and tried Vegemite or Marmite from the UK not too many takers but anyway that is an example of a biomass product where you just take a microorganism you grow that microorganisms like a yeast and then you harvest the yeast and then you use that to make a food product like an alternative protein product this company called arbiome they take waste wood and turn it into food because when you want a tree you only want the trunk you don't want the branches you don't want the sawdust you don't want the bits you cut off when you turn a round log into square rectangular pieces that's all you want so what normally happens to that product often it's burned and not good for greenhouse gas emissions what our biome can do is to turn that wood waste into media for growing microorganisms which can then be treated and textured to make alternative protein products and then we have fungi now fungi mycoprotein one of the biggest movers in the space at the moment in alternative proteins and this one is from a company called Nature's find now they find this in the bottom of the hot springs of Yellowstone National Park the funerals down the bottom of the hot springs they found a fungi that would grow under those conditions and what they've done is they've grown that organism and then they've harvested that and they're using that to make everything from cream cheese to breakfast patties and one of the latest ones we have coming out is leaf protein now there's a lot of green material from growing crops that really don't do anything with or it's a low value material what you can now do is to take those leaves extract the key protein for photosynthesis called ribisco and then use that to produce alternative protein products for making food now we eat green stuff but we can't access a lot of the Nabisco because it's locked up in the in the plant cells but these people can release that and then we look at hybrid products if we have a look at the Hybrid products this is a hybrid of algae and conventional seafood Ocean Mortadella from a company called new fish in New Zealand and if we move on to Cellular agriculture most people will think they have cultivated me clean meat cultured meat call it what you will and yes that's part of cellular agriculture and one of the ways that you can make these products is to grow the cells take the cells from animal grow them in huge fermenters and then you structure those cells to make things like hamburgers and sausages and things like that and the best example for that is actually a local Regional example which is of course chicken nuggets in Singapore from eat just been legal to sell that product to the general public since December 2020. and we also have other cultivated

meat companies or Company Seafood companies like shock Meats from Singapore and they make seafood products like crab and lobster but you don't just have to make unstructured products like sausages and hamburgers you can actually grow whole cut products now this is a steak that was made by a company called alef farms in Israel and you might look at that and go it doesn't really look exactly like a steak completely agree with you but take a step backwards this is a prototype product so imagine with exponential growth what this will look like in five years ten years or even three years time then you've got something that looks a lot like a steak and then we have something called mammary gland agriculture as you can see cellular agriculture is not just about meat what you can do here is take stem cells from milk you grow mammary glands in fermenters and you can grow milk without the animal and you can do that for any mammal including humans so imagine what that could do to the infant formula industry that derives all its product from the dairy industry and the impacts on the dairy industry and just to show you again it's not all about animals this is plant cellular agriculture a company called California cultured they are taking cells from the cacao plant growing those in fermenters and extracting chocolate components like flavonols and fat to make chocolate and if we go to our last technology of synthetic biology and this is basically where you take the gene for something you want to make in nature you put it into another living organism you grow that organism Harvest what you want and then you use that product and the best example um the best example of that is Believe It or Not cheese um who here likes cheese who like cheese yeah no plenty of cheese take us right okay so when you make cheese originally you use something called rennet and rennet was made from the fourth stomach of a two-day-old dead calf so back in the 80s cheese consumption was Rising rapidly and they realized there's not going to be enough rennet or dead calves around to make enough cheese so what are we going to do so I have friends at Pfizer who make out vaccines inserted the gene for the enzyme in minute called chymosin and they put that into a microorganism and made chymosin and now that chymosin is what's used to manufacture cheese and they did that in 1990 so they produced animal-free chymosin so 80 to 90 percent of all hard cheeses in the world are made using animal-free chymos and or fermentation produce chymosis as they call it and has been for the last 32 years so if you've eaten hard cheese you've eaten a food made with a product of a genetically modified organism so who's now going to stop eating cheese because I've told them that any takers nope I haven't had one taker in that so just re just remember that one though if we look more recently with a company called perfect day they're making animal-free whey protein they're using it and everything from ice creams cream cheese and even to make animal-free milk containing animal identical whey protein so is it animal free or is it not animal-free because the Whey Protein identical but it's never been near an animal is it vegan interesting philosophical question one that I don't want to get involved in answering but an interesting question to think about and the last one is plant molecular farming what you do here is you put the gene for the compound you want into a plant you grow the plant you then harvest the seeds extract what you want from the seeds and then process the rest of the plant and a company called off genetics in Iceland is doing that to make the growth factors you require for growing cultivated meat and they reckon that they have reduced the cost of that product by over a hundred times compared to Conventional methods of making that product and the other one we've got my favorite one here is Nobel Foods now they've put the gene for casein into soybeans growing the soybeans taking the casing out and making cheese from casein from soybeans they've planted the first crop this year they raise 100 million US dollars there'll be products released at the end of this year and if that's successful next year they'll be growing lots and lots more casein containing soybeans and if you look at all these Technologies all of these Technologies are science fact they're not science fiction so we have to realize that the future is actually already here we just haven't heard about a lot of it and what do all these Technologies though have in common and why are they important to reimagining the global food system that's because they use a lot less natural resources they use little or no fresh water or arable land in order to manufacture the products but what do consumers think of this technology in their food um because it doesn't matter how good your technology is if the consumers won't buy it you don't have anything so I think there's a couple of interesting points that shows which direction this is going to take one is my informal survey which I did here again today saying to people are you going to stop eating cheese because it's made with the product of a genetically modified organism I've asked thousands of people not one has said yes not one's going to stop so if people see a benefit in a technology they're likely to accept that in their food with far more likely than not and maybe the benefit of cheese is you love cheese but that is still a benefit and the other signal of the direction it's going to take is the fact that gen Zed and particularly gen Alpha because when we look at the 2030-2040 gen Zeds are getting a bit old by then so it's going to be their kids gen Alphas that are going to drive the future of food they are not just digital Natures which we hear all the time they are technology natives so they've grown up with private companies shooting Rockets into space spot the dancing Dynamic Boston Dynamics robot who if you go to Singapore apparently will tell you to stop to start social distancing and not be so close to each other and electric cars internet streaming mobile phones you name it they don't know any other reality and so research has shown that gen Zeds and gen Alphas are far more likely to accept a high level of technology used to make their food than any previous generations and I think that's particularly important in this region because when we look at mid-2030 to late 2030 what we're going to see is that the largest cohort of gen Zed and gen Alpha on the face of the planet is going to be in Asia so what I say is as goes Asia so goes the rest of the world but what will the future look like for these consumers so it might look a little bit like this this is a video from a concept restaurant over called Sushi singularity in Tokyo so in just 20 77 seconds we're going to see how this could play out in real life so Walter Davis goes to Sushi Singularity for a meal as he enters the restaurant photo recognition software identifies him the restaurant AI downloads his nutritional data from Walter's personal Quantum powered AI he's greeted personally he then orders his food the nutritional data is then sent to the 3D printer which selects ingredients from cellular agriculture conventional Agriculture and synthetic biology and it 3D prints a personalized product for him and then that product is served with a flourish now this simple scenario brings together our three food Technologies alternative proteins cellular Agriculture and synthetic biology merges it with genomics the microbiome and AI he tries the product [Music] and of course it's delicious [Music] and the thing is this scenario is built on extensions of technologies that exist today so by 2050 or even before this could play out seamlessly in everyday life so where are all these Technologies leading us and that we just have to look at 10 billion people so how are we going to feed those people so the thing is that we are going to need to scale up our alternative protein Technologies and that is going to take time because we tend to overestimate how quickly change will happen but we do underestimate the amount of change that will happen so we need time and I think that's going to take decades to scale up the raw materials the ingredients and the manufacturing capacity to actually meet the demands of 10 billion people and that's why conventional analogica culture is not going anywhere for quite a while but the bright side of all of these Technologies is this is the most exciting time to be in the food industry I have seen in over 30 years and one thing that's certain it's only going to get more and more exciting I can also assure you that we barely scratched the surface today of the new technologies that are driving the future of food so going back now to our Crossroads opportunity we can reimagine the global food system we have the Technologies sustainably and equitably feed people in 2050 but what we need to do with our new technologies is to make sure that we equitably distribute the means of production not just the food output and by combining our new technologies with conventional Technologies we can create a whole new sustainable and Equitable Global Food system it can be done 10 billion opportunities from 10 billion people thank you thank you sir and so and just um you'd want to connect with me there's a QR code there if you take that QR code you can connect with me on LinkedIn um I'll just give you a few seconds to do that one and then also please come and see me afterwards if you don't get the QR code and that's my Consulting website and there's a whole raft of information on the future of food on that website and my dedicated speaking website thank you thank you Tony would you please take a few minutes rest as we set up tables on stage please don't go anywhere again because he will still be with us but with two speakers as guests as well as a panel discussion is actually couldn't Tony Hunter um he he also provides technology advice advice to KFC and Pepsi as well so uh contoni my my father actually used to work uh at uh for Pepsi in the US so maybe you guys have met at certain point in life who knows [Music] foreign [Music] as a moderator so kuntoni would you please come back on stage as moderator foreign [Music] you provide four technology advice for Pepsi and KFC as well right that's correct yeah that's really cool that's really cool my dad used to work for Pepsi in the US right so probably at some point in life you and my father probably have been you never know never know never know because you never know the future so you can't tell right right thank you for being here sir thank you SVP head of innovation and new product development cpf Thailand [Music] foreign [Music] over my stage to you thank you welcome to the panel.valana Dr takanong hi um I think an exciting time to be in the food industry isn't it yes so what what do you think for you guys is the most exciting part of being involved in the food industry at the moment yeah so Tony thank you very much for your uh overview of the future of food and I think it's really exciting because there's a lot happening and also the technology is progressing really fast and I think that um the things that are exciting is that the new technologies are coming in to solve the problems that we are having you know for example with the increasing population uh with the Healthy Lifestyles that people need and with the you know covert situations that people want to build their immunity and also with the limited resources with the Aging population as well so with all these problems technology is coming into play to solve these problems and I think with the technology that's coming in it's not only food technology as you said right it's a combination of other technology G's as well for example AI biotechnology cellular technology so actually now in the world of food technology it's not only food technology that you mix a certain amount of ingredients just having the minimal Technologies for example pasteurization uht or whatever it's more than that and I think a lot of startups and a lot of you know world leaders you know corporates are bringing those Technologies to help Supply the the food products for the future requirements so I think that's really interesting and it's going to move really fast so I I think in 10 years time even 10 years time we will see different types of food that we are eating today maybe in the same format but the way that it's made I'm back in the typhaxanooga 2032. yes and see what's changed that's right I think that's really good Segway Dr akanong because one of the things that needs to happen I think is if governments don't get behind development of new technologies then we're not going to address these problems they need to be a facilitator not a block to new technologies part later but you asked first what was what are we exciting about about food technology or food industry now's a day well I think during like two to two years during the pandemic I I myself get exciting what are we eating and then also the changing behavior of the consumer that is the key driver for what we are seeing today for the moving with the exponentials read as you mentioned of the um Food business so what we eat today and what is um also um exciting and I'm curious to know what are we going to eat in the new decade when we are in 2030 when we are saying that we will have more and more aging population what are those people would eat by that uh years I would be also part of that population so I wonder what food I would be eating and also I want to age with a healthy human being so I don't want to get ill so what I need to prepare myself so that that's to me that is also exciting and also um another thing is that I start to see um countries in Asia using a lot of their local ingredients to produce food that meet the need of the consumer for example in Thailand we have a lot of a variety of local ingredients local food ingredients that good for the health benefits so that's also the exciting in in research and development world that how could we use all these local ingredients how could we feed the world with what we have now and um I'll go back to your points about the government so because food Annapolis is a government initiative to be the Innovation platform for for uh for food industry so um with this kind of uh changing the pet of uh changing Technologies in Food business we cannot sit back so we have to um support food Tech startup in particular for them to come up with new or Innovative Technologies and help them to work with Lodgers company or get them to meet the investor or the Strategic partner in the future so that they could help come up with the very interesting and Innovative food products because I think you're touching a few really good points there Dr akanong I think the the concept of Health span rather than lifespan there's no point in living to 100 if you last 30 years you're not healthy and all you're doing is waiting to die basically whereas having that Health span with some of the functional ingredients are you seeing that in in Industry Dr lalana yes yes we see that as well so for the elderly pop population we are also looking into that because we want our consumers to age happily right and also healthily as well so uh the you know elderly people they need to eat you know nutritious food and when they age they can only eat a small amount so in that small amount that they will consume it has to be full of nutrients and those nutrients must be able to prevent them from getting diseases also to revive them so that they are healthy and can age happily so there's a lot to do in the elderly food space and also people who are you know aged they have trouble swallowing so dysphagia they have other symptoms for example Alzheimer's and everything like that so how do we provide them with the right nutrition so that they can prolong those symptoms and even get over those symptoms as well so I think with the elderly food it's a big space and also in Asia you know we are already approaching the elderly population so um yes the Indus industry has to address that because I think you've always got to polar opposite consumers you've got a very young the Gen alphas and the Gen Zeds but then you've got the elderly population the Boomers and Beyond who were demanding slightly different things and who are comfortable with different levels of technology in their food so it's going to be interesting to see how industry copes with and are you seeing any um Dr any particular range of startups coming to you or taking your attention um well we at Food Annapolis we run accelerator for food Tech setup as well I um I see a lot of them working on part of it is of course alternative proteins and the others or I would say majority would be functional food functional ingredients not only to start up that in our accelerators but the smes that we are working with the key challenge is to come up with the food that meat the needs of the consumers and that consumer is that now today um when we come when we talk about functional ingredients functional food and the demand of the consumers they're not eating just for health benefit or physical health but we start to see a lot of food that's good for my as well so we start to see food that help people that maybe get um like um when they get depressed what they will eat why they get depressed because in these past two years they they in the stage of her something that they don't expect before so um functional food functional ingredients I think it's come along with with uh alternative protein plant-based we will start to see a lot of that and that is the sharings because when you put all these ingredients into your food and you want to claim the health benefits it's a lot more to invest along the chain before the product get to the market and you can claim that so that's also the things that food industry have to in terms of investment they have to to put a lot on this yeah well I think that's right that's what I'm seeing on a global basis is that people used to eat for good tasting Fuel and now they want to eat what I call it personalized wellness and wellness meaning not just my body but my cognitive Health my emotional health I'm sleeping properly I'm getting everything so people are not content anymore with just having it tastes good and it's calories it's like oh no what's it going to do for me well how's it going to help me in my life rather than just gee it tastes good and that's it so it's more like functional food right so food to address specific symptoms and going back to the elderly before that you asked I think the availability of localized food for the elderly it's still very minimal because like especially in Thailand and in Asia we have our special localized taste right and if you have like elderly food that is maybe from Western origin the Thai elderly people may not be used to that taste and so they don't feel happy to eat it so then they become you know lacking the nutrition because they can't eat their normal food but they also can't eat the foods that are coming from Western Origins so I think that's a problem that needs to be addressed as well so having localized elderly food for Thailand and also for the Asian market as well yeah because I mean the elderly people they've basically culturally grown up with a certain flavors and a certain way of eating that they're comfortable with and that's what they want to continue with if they can and simply going to serve them a hamburger no matter how good it is for them it's really not going to do it is it you need to localize it by that and that's why I think it's so wonderful it's like when I first came to tyfax sunurga back in 2019 the dim dark days before covert I was so impressed with the startup culture in Thailand I think it's phenomenal and I think anyone from Australia Etc doesn't come and see typhaxanurga is absolutely mad they need to come and see see what's going on in the region it's such a vibrant food industry and startup culture here in Thailand and I think that that ability to localize for the Asian markets is is very very important part of what we're doing and from what I see I don't see that Thailand or Asia are followers anymore they're starting to take the lead in what's going on and you've got your meet zero products taking the lead in what's going on in in the region we've got the people I mentioned like shock and celex all these sorts of people who are driving local innovation in in the space talking about that how are you seeing the investment space at the moment for startups is there a lot of money around they start up harder to get what's the what's the situation there in the region well I I might take this first um well as I mentioned I'm I'm working with this food Tech startup and we are government excervator so we have them we we coach them we Mentor them uh I would say in terms of availability of the money for them in the market did a lot but the challenge for us as a government to to groom them is how could we dress them up to be ready for those money available so that's that's the challenge yeah because a lot of the times the um the startup people running startups have very little business experience and it's like great ideas and maybe great scientists but trying to get a team together that appeals to investors will show that their money is going to grow the company and not just make something that somebody loves but has no commercial benefit we got good people we got good scientists we got good team in in Thailand but we just need to like ask ask you you mentioned make them appeal to to um investor and not only the investor in Thailand as well we have then um one cohort of actuators in uh doors that granted from our accelerators also get um interest from the Singapore accelerator as well so we send them further to Singapore because what we do since we are government so we we're doing very early stage our food takes up and then after they finish from us they could go to others accelerator as well because that's what I'm seeing sorry is that you know if you've got a good idea I'm seeing companies from the states invest in Singapore and Thailand companies companies in Singapore investing in Australia if you've got a good idea and you present it correctly as you say then you can get funding from somewhere but you've got to get it right yeah yeah so Tony I'm really fond of the startup space you know especially in Thailand and also globally as well and I've been really amazed within the last five years there's been so much food Tech Investments and before that you never heard of like you know food Tech investments before it's more like telecommunications uh robotics or whatever but now you know within the last five years there's been so many food Tech Investments and last year alone 2021 I think there's been about 40 million U.S dollars right in 40 billion actually

U.S dollars uh in the food Tech space investment so that's you know a huge amount uh consider considering you know maybe 10 years ago there would be hardly any uh food Tech Investments and there's several categories for the food Tech Investments for example uh ingredients right um in the food ways in traceability um in restaurant Tech as well and in personalized nutrition but the biggest space probably would be an alternative proteins as you mentioned uh before and also in e-commerce and distribution as well so it's actually really um spread out throughout the food industry for the food Tech Investments and I think what the VCS are looking for is IP and the ability to scale and how big the market uh is and also is it a crowded space already so I think you know these uh particular uh points are really important uh apart from you know if you can attract the VCS if there's white space I think IP is important if you've got something that you can protect and be able to scale because as you say I mean we've seen such a huge increase go back to those couple of Landscapes yeah and huge increase in the number of companies around and I struggle with some of these companies to see what's different about company a and Company Zed and Company G in between like what is different about these these companies is it getting more and more difficult to find a unique point of difference in the marketplace in the startups yes when when we work with startup in our accelerators we try to uh make them think of not the local market or the regional market you have to uh so um the problem of the bigger markets and that's mean they have to be unique so you you cannot be the solutions for everyone but you have to be one solution that uh that person cannot live without your solution so that's that what they have to find a their uniqueness that's that challenging and also um I think um from for me um working with the early stage startup it's kind of uh challenge for accelerator as well to change their mind because they are more like researchers turn entrepreneurs so we have to equip them with uh different um lens of of uh how they wield the world so that's also um I we we want to teach them not to fall in love with that with their own baby then they will find a uniqueness because once you fall in love with your baby you keep going no matter whether it's ugly or not so actually adding to that I think team composition is really important okay in in a startup you need someone really strongly in their Science and Technology but you also need someone in marketing you'd also need someone in management so to form a complete team you need um various expertise not just scientists who can do you know grade in the lab but don't know how to sell their products so I think team composition is really important for startups and I think the other thing I I look for when I'm looking at startups and saying will this technology take off is I look for when a startup teams up with a major player so like our example perfect day they were just going along and then they teamed up with ADM 62 billion dollar U.S ingredients company that had all the things the startup didn't sales marketing production expertise everything else and they've gone on from there to raise 750 million US dollars I figure they've got over the scale-up value of death there I think they're probably on a bit of a winner yeah that so that's why corporates are teaming up with startups because we have to complement each other like corporates for example like CP we have the distribution we have the marketing arm but um you know as the news has been released we teamed up with future meets they've got the technology and we also have the the technology but in the plant-based area so with the cell base and the plant-based we can make hybrid products so it's bringing the strength of Both Worlds right bringing the strength of both uh companies together and launching it into the market so I think when you uh partner up with the startup you just have to see how we can become strategic partners and help each other along so that you can make that mission possible yeah yeah I think that's right because they you know if you both got exactly the same set of skills it really doesn't make much difference does it no compliment yeah well I'm going to say my last question until the very very end which is going to be give you time to think about it stare into your crystal ball and tell me what 2032 is going to look like so I'm going to ask you now we're going to go to the audience um do we have any questions from the audience for our panel do we have a microphone any any questions from the audience for our panel foreign I'll go to one that I had and we mentioned the use of AI in in the in startups and so on and in food and that's one of my accelerated Technologies are you guys seeing a lot of use of AI coming through in either in startups or in in companies you're dealing with for AI um it's a lot on prediction uh flavor prediction Trend prediction and also in um formulation as well right and also in quality control so a lot of AI is being used in those uh areas I think that's really good because it helps corporates like us predict the future predict what raw materials we should use so um technology is really helpful and it saves us time as well right with the AI uh prediction and there's more accuracy yeah and just guessing I suppose I think the thing is with AI it can consider a number of formulations the human brain can't even conceive of but my favorite one is notco who make plant-based milk they put cabbage and banana flavors into the milk because the AI told them there were some components in there and that might sound funny but how many times maybe if you tune into a wine Channel it smells of apricots with some fruit salad so we use those descriptors for wine why not for milk milk may have a slight cabbage odor that we don't pick up but the AI thinks it does so I think that's you know that sort of ability to as you say Dr Lana to predict what will happen and consider things the human brain can't even do in in the decade are you seeing any one of your startups who are bringing any AI to the table or [Music] not much but would start to see some of that but and um using all those data-driven Technologies to work with with we have one of them here um to doing the sensory evaluation in um not much in in terms of uh um very Innovative technology but yes we start to see those we start to see um one of them trying to use the AI Technologies to uh work in the areas of functional food functional ingredients as well but it's still at the proof of concept one of the things that I mentioned was some of these new technologies they don't need arable land or fresh water so countries that don't have a lot of that can actually grow a lot of their own food do you think that that localization of production is going to help particularly when we think about Ukraine crisis the price of wheat doubling from something that's literally around the other side of the world so do you think that our ability to maybe localize some of our food ingredients might be an advantage problems that we've faced with with the war and also with covid it's getting more and more difficult to rely on Imports and experts right so people have to rely on their local sources more because for example um you know if you're importing the supply you know recently I think yesterday was something um Malaysia they announced that they're going to ban the export of chicken to Singapore and poor Singapore you know I mean I think Singapore they rely on 30 something percent of their chicken Supply from Malaysia so I think Singapore have to start thinking of you know how can they rely on their local food resources and it could happen to us it could happen to to any other country as well so yeah I mean I've heard that um Israel apparently gets 30 of its eggs from the Ukraine because anymore in Israel because of a war in Ukraine so just this whole business of that we're going to feed the World by shipping products all around the planet I think we've seen under covid and particularly the Ukraine crisis has focused on one part of the system we're seeing the cracks the global food system is great when everything works perfectly when you see a problem the ability of the system to react is not very good at all yeah yeah I agree on that because I think to a certain extent we have to be reliant on ourselves right and then okay for the luxury of you know having um other uh Western food or whatever then that that can be additional but for the main um food that we are consuming we should really rely on our regional ingredients and products yeah I think that makes a lot of um a lot of sense um Dr akananda are you what are you seeing in the startups that are coming to you is there any particular um category that seems to be getting more popular in the startups that are coming to you it's a product product wise or you know yeah I would say yeah as I mentioned earlier um alternative protein functional food functional ingredients there are um they're mainstream in in our accelerators now in um not much on on in terms of uh processing Technologies so we see more on the product size of it and is it so you you do very early stage investing and then you look to then pass those investment ready companies to other to VCS or other accelerators the one I'm taking into my accelerator is um technology Readiness level or TIR only like um five or six and then we will we're trying to help them to to meet the the potentials uh partner that can take them further so it's quite early so uh in the if you look in the in Thailand food Innovation ecosystem um we don't see much of the people or the the government or uh private sectors helping um early states start up so I think we'll fill that Gap and then we we get them ready for the next uh next round because that's the highest risk isn't it the very very early stage and the government can take that risk if it's got the risk appetite to do that and I think that's a terrific way of doing things because if you have time after this we have like 10 of them over here oh yes I add a little bit of a look around yesterday was impressed with all the conversations 10. this is the new 10. okay we have six day for first three days and uh first ten and then another another 10. and they um I may take this for um the pr and marketing for them they do the pitching as well as on the website of uh I think it's on the webpage of uh food text a new girl so you can ah foreign companies around that's for sure so we're down to our last few minutes so I've given you time to think about what typhaxanuga 2032 will look like who would like to be first cab off the rank I think I could find the 3D printing just like nespress and I think that would come maybe like five years yeah maybe less than 10 years I could maybe purchase it on a Thai thing don't you think that would be like home appliance oh he's gonna say think of Home Appliances 3D printed home appliances and if you think that and that will obviously be personalized for people so it'll take their functional just like our friend uh you know Walter Davis that'll have his AI there tell them Nespresso machine it would call well I don't know something machine food press or something painted the name and get the the domain name for that one straight away okay as soon as you leave go get that one I can I could print food for elderly people insect protein in that machine so it has to be very multi-function so that I can I can uh I can print my own food with full of nutrients and of course that's a great opportunity for cpf to supply the ingredients to your 3D printer to print your food yeah so actually my idea is quite similar to Dr eganong I was going to say personalized food right because um everyone has different health conditions different uh requirements so in the future you may be able to enter your health profile and then let the machine or whatever AI predicts what type of food you should eat in each daily meal and then have that you know Supply delivered because uh within 10 years right convenience I think he's King yeah convenience quality and also food for personalized health and also in CDs so these I think would be you know the top trends for the next 10 years absolutely I think that person lives Wellness because we are also different and we react to food that we need something that's personalized for us how many people have had a diet recommended and by their friend I lost five kilos I feel great you try it you put on five kilos we've never been more depressed in your life that's because we are all so dramatically different in the way that we process our food and get our nutrition so I think that's a really good um really good end point if you like for thinking about how all these new technologies will come together because if we don't have some sort of framework as to how the technology would have come together then it's the old one if you don't know where you're going any road will take you there so if we know that we're going towards the future where personalized Wellness where food for us as individuals is the most important thing then 3D printing personalized Wellness I think that's probably the uh the spot at which we should finish I think we're going to get much better than that so there's please thank Dr lalana and Dr akanong for their time thank you [Applause] thank you very much our speakers for great session uh I think we learn a lot but please stay on stage as we have souvenir presentation for you on behalf of typhix aruga Asia 2022 we would like to Express gratitude by presenting you souvenir so please rise up call as we would present souvenir by representative of coin assistant project sales manager foreign cubed [Music] he's giving advice to a company like Pepsi and KFC [Music] foreign [Music] and new product development cpf Thailand [Music] [Applause] is [Music] foreign [Music] of everyone together thank you very much so pleased to have you guys on stage it's been a wonderful session this is the first session of today day four of typixonoka Asia 2002 on the future of food tech let's see what would happen in 2016 32 like you you said 10 years from now let's see [Music] on Facebook live my Facebook live would be back in 30 minutes ah first session is over but I'll be back on Facebook live so please stay tuned and I'll see you in 30 minutes foreign [Music]

2022-12-26 14:41

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