Startups addressing issues in CleanTech, Energy & Environment and AgTech & Food clinch top spots at XTC Singapore 2022Monday, March 28, 2022
Finalists ProfilePrint, Umami Meats and Reacto will go on to compete with other regional winners at the global Extreme Tech Challenge competition.
28 March 2022, Singapore: SGInnovate and Extreme Tech Challenge (XTC) today announced the top three startups at XTC Singapore, a regional leg of the world’s biggest startup competition. ProfilePrint, Umami Meats and Reacto were selected as Finalists following a virtual live pitching round at XTC Singapore Demo Day and will advance to XTC Category Finals and a mentoring bootcamp, with the opportunity to attend and potentially pitch at the in-person XTC Global Finals in San Francisco, to be jointly organised by XTC and TechCrunch on June 14, 2022.
XTC, a not-for-profit organisation supported by leading corporations, venture capitals, universities and policymakers, is the world’s biggest startup competition aiming to address UN sustainable development goals through responsible innovation. Regional competitions are held with partners in various countries, where selected startups will advance to the XTC Global Finals. This year’s competition will focus on:
- Advanced Materials
- AgTech & Food
- CleanTech, Energy and Environment
- Digital Health
- Enabling Tech
- Sustainable and Smart Cities
ProfilePrint, which joined under the AgTech & Food category, is a food ingredient search engine platform powered by a patented artificial intelligence fingerprint technology, able to predict the quality and profile of a food sample within seconds. The solution allows sellers and buyers to objectively ascertain the agreed quality of a food ingredient in online transactions, saving time and money by reducing the need for physical checks.
Another startup in the AgTech & Food category, Umami Meats is pioneering cultivated seafood. The company produces nutritious, affordable cultivated fish that is healthier for human consumption and the environment.
In the CleanTech, Energy & Environment category, reActo offers a sustainable solution for hard-to-treat wastewater that focuses on complete decomposition of Persistent Organic Pollutants on-site with no sludge or waste to landfill.
The three startups will now join other finalists selected from 20 regional competitions with applicants across 80 countries, and compete at XTC’s 10 Category Finals in May. They will also receive an invitation to attend and potentially pitch at XTC’s Global Finals, to be held in-person in San Francisco in June. In addition, the finalists will be presented with the opportunity to attend XTC’s virtual bootcamp in May, where they can engage with senior startup investors and corporate executive evaluators from XTC’s partner organisations.
“Since the very first XTC competitions, we have had the pleasure to partner with SGInnovate, allowing us to connect and engage with SGInnovate's three impressive cohorts of XTC Singapore. We have continued to see inspiring startups come out of their dynamic ecosystem and look forward to meeting the next group of innovating startups addressing global issues like the Climate Crisis, as well as local tech trends like blockchain and AI," highlighted Young Sohn, Founding Managing Partner, Walden Catalyst Ventures; Former Corporate President and Chief Strategy Officer, Samsung Electronics; and Co-Founder of XTC.
“The startups that pitched at this year’s competition provide workable solutions to some of the most persistent problems the world faces today. Many of them are developing and building novel technologies that will enable companies and consumers to achieve goals in areas such as sustainability and waste management,” said Lee Kheng Nam, Venture Partner, GGV Capital, a judge at this year’s XTC Singapore Demo Day. “The startups that emerged as the top finalists today will now need to focus on execution and bringing their solutions to market, and we are confident they will be able to amplify their impact with a global network in partnership with XTC.”
“Startups are critical enablers in our journey towards meeting the UN Sustainable Development Goals (SDGs). Many of the entries we’ve seen demonstrate the ability to translate cutting-edge research in emerging technologies into new business models that combine financial value creation with environmental, social and governance priorities,” said Dr Lim Jui, CEO, SGInnovate. “Their innovative solutions are a testament to the promise and potential of the region’s capacity for innovation and entrepreneurship, and we look forward to the top three finalists making their mark on the international Deep Tech stage.”
For more information on the XTC competition, please visit: https://extremetechchallenge.org/
At SGInnovate, we build and scale Deep Tech startups into high potential companies with global impact. We believe that hard global problems can be solved using Deep Tech, and Singapore, where we are based, is uniquely positioned to realise Deep Tech innovations that can tackle these challenges. Our Deep Tech Nexus Strategy is focused on adding tangible value to the Deep Tech startup ecosystem in two key areas – development of Human Capital and deployment of Investment Capital. With the support of our partners and co-investors, we back entrepreneurial scientists through equity-based investments, access to talent and business-building advice. Our efforts are prioritised around emerging technologies such as Advanced Manufacturing, AgriFood, Artificial Intelligence, Autonomous Vehicles, MedTech and Quantum Computing, which represent impactful and scalable answers to global challenges.
SGInnovate is a private-limited company wholly owned by the Singapore Government. For more information, please visit www.sginnovate.com
About Extreme Tech Challenge
The Extreme Tech Challenge (XTC) is a U.S. 501(c)(3) nonprofit dedicated to empowering the next generation of entrepreneurs who create new technologies and innovations to benefit humankind.
Inspired by the United Nations 17 Sustainable Development Goals (SDGs), XTC supports and showcases the innovators harnessing the power of technology to address the greatest challenges facing humanity and our planet. Through its global startup competition, XTC provides top contenders the potential for global visibility, the opportunity to raise capital, the option to network with global entities (corporations, VCs, partners), and the ability to gain mentorship opportunities in order to help them pioneer technological breakthroughs and help power a sustainable future.
XTC forges agile partnerships and robust collaborations between innovators, venture capitalists, corporations and policymakers. Backed by leading voices in the tech industry, the Extreme Tech Challenge mobilizes the world’s number one ecosystem for purpose-driven innovation and technology. For more information, please visit www.extremetechchallenge.org
Quotes from top three finalists at XTC Singapore 2022
"We are honoured to represent Singapore at the Extreme Tech Challenge Global finals 2022 in San Francisco, where we will demonstrate how ProfilePrint empowers food growers to earn more and consumers to pay less, impress upon the importance of a more equitable and sustainable food supply chain, and how some of the world's largest food ingredient conglomerates are backing our solution to address this global inequity." – Alan Lai, CEO, ProfilePrint
“We are thrilled to have been selected as a finalist from the XTC Singapore competition! We joined the XTC to find partners and advisors who can help us accelerate our path to market and enable us to scale more quickly than we could alone.” – Mihir Pershad, Founder & CEO, Umami Meats
“It is an honour and an important recognition of the work that reActo is doing to sustainably treat industrial wastewater and remove harmful pollutants from the environment. XTC is the largest competition for startups addressing UN sustainable development goals and we look forward to learn, connect and explore collaborations with likeminded corporations and investors during the program.” – Dr. Massimo Spina, co-founder, reActo
For media queries, please contact:
Communications Manager, SGInnovate
XTC Top 10 finalists list
|Advanced Materials||AirGo Design Pte Ltd|
|AgTech||Allozymes Pte Ltd|
|CleanTech||reActo Pte Ltd|
|Digital Health||Nervotec Pte Ltd|
|Digital Health||EyRIS Pte Ltd|
|Enabling Tech||SixSense Pte Ltd|
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