March 28, 2023
New Wave Biotech one of eight UK firms to expand into Singapore
New Wave Biotech, a company assisting sustainable alternative animal protein businesses, is one of eight UK firms looking to expand into Singapore through the Innovate UK Global Incubator Programme, The Straits Times reported.
The programme is a partnership between Singapore Deep-Tech Alliance (SDTA), a sustainability-focused venture builder, and Innovate UK, a national innovation agency.
Founded in June 2022, New Wave Biotech assists sustainable alternative protein businesses in streamlining their manufacturing procedures by conducting virtual experiments using computer modelling.
Zoe Law, co-founder and chief executive officer of New Wave Biotech, said this method lowers production costs for sustainable alternative protein businesses and hastens research and development.
The potential of alternative proteins, like dairy proteins, to change food sustainability and security is what motivated her to launch the company.
She said analysis of the costs associated with discovering and developing alternative proteins showed how costly, ineffective, and labour-intensive today's bioprocess optimisation is.
Participating start-ups and businesses will get to work with Singapore's businesses, universities, labs, and investors to encourage them to deploy novel technology for manufacturing.
This includes using additive manufacturing, industrial Internet of Things, digital transformation, advanced sensors, robotics, artificial intelligence, and virtual reality within the advanced manufacturing sector, and applying the solutions across various industries such as food processing and agritech, automotive, aerospace, biomanufacturing, and shipbuilding.
Jon Hazell, global incubator partnership manager at Innovate UK, said Singapore's manufacturing sector is a burgeoning market as it is a key driver for the country's economy, making it attractive to UK companies.
He said Innovate UK aims to help small and medium-sized enterprises tackle the challenges of entering global markets by providing access to world-class mentors and tailored workspaces, enabling them to explore the growth potential of specific overseas markets and better understand the challenges and opportunities, including the needs of future customers.
Some opportunities in the Singapore market that are attractive to British manufacturing companies include finding applications for artificial intelligence, growing bio-manufacturing, as well as discovering new design approaches for remanufacturing, he said.
The Innovate UK Global Incubator Programme is currently operating in the US, Canada, and Australia, in addition to Singapore.
- The Straits Times