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SINGAPORE, Aug. 19, 2021 /PRNewswire/ -- Sophie's Bionutrients, a next-generation sustainable urban food production technology company, has been named to Forbes Asia's inaugural 100 to Watch List. Published on August 9, the Forbes Asia 100 to Watch list spotlights notable startups on the rise across the Asia Pacific region.
The final 100 was selected from over 900 submissions from the region's accelerators, incubators, SME advocacy organizations, universities, and venture capitalists.
The first microalgae-based food tech company selected by Forbes Asia
Sophie's BioNutrients is the world's first food tech company to use microalgae and patent-pending technologies to develop 100% plant-based and sustainable alternative protein.
The Forbes Asia 100 to Watch List chose the food tech startup for its efforts in creating alternatives to meat and milk and its goal to turn profitable within three years amid growing demand for its microalgae-based products in Europe and North America.
Eugene Wang, Co-Founder & Chief Executive Officer at Sophie's BioNutrients, said, "Lists like 100 to Watch prove that solving the world's most pressing issues and business growth are not mutely exclusive. We are elated to be chosen by Forbes Asia and hope this demonstrates that investing in sustainability is simply good business," he added.
Microalgae: the superfood of the future
Sophie's Bionutrients believes microalgae -- the mother of all animal and plant life -- is the superfood of the future for its versatility, nutritional value, lack of allergens and impressive scalability for mass production.
Using only 0.02 hectares of land and three days, Sophie's BioNutrients can harvest a tonne of microalgae protein concentrate to be used to develop a variety of meat and seafood-free alternatives to food and beverages.
For more information, please visit https://sophiesbionutrients.com/.
About Sophie's Bionutrients
Sophie's Bionutrients, a B2B food technology company, is on a mission to unleash the limitless possibilities of nature, restore our planet and eliminate food allergies. It aims to achieve this by creating plant-based, protein-rich alternatives to meat and seafood using microalgae, the mother of all animal and plant life.
In 2019, Sophie's Bionutrients won an SGD 1 million grant from Temasek Foundation's The Liveability Challenge. A Foodtech 500 startup and winner of the MassChallenge 2020, Sophie's Bionutrients will open its first urban protein production facility in Singapore in 2021.
About the Forbes Asia 100 to Watch List
The inaugural Forbes Asia 100 to Watch list spotlights notable small companies and startups on the rise across the Asia-Pacific region. When economies worldwide are struggling from the pandemic, these agile companies are on a growth path. Their inclusion in the List comes in part from addressing problems such as improving transportation in congested cities, expanding affordable connectivity in remote regions and preventing food waste.
Methodology
Forbes Asia solicited online submissions and invited accelerators, incubators, SME advocacy organizations, universities, venture capitalists and others to nominate companies. The final 100 was selected from over 900 submissions. To qualify for consideration, companies had to be headquartered in the Asia Pacific, be at least one year old, privately-owned, for-profit, and have no more than US$20 million in their latest annual revenue or total funding through August 1, 2021. Forbes Asia evaluated each submission, looking at metrics such as a positive impact on the region or industry, a track record of strong revenue growth or ability to attract funding, promising business models or markets, and a compelling story.
