Brinc today is pleased to announce a partnership with NEOM to accelerate investment in AgriTech and FoodTech ventures under the auspices of the Food Sector. NEOM is a region in northwest Saudi Arabia on the Red Sea that is a new model for ways to adapt to the challenges facing humanity in the future as it deals with the impact of climate change, urban sprawl, and sustainability. Innovation in food technology is necessary for a more sustainable future in the agrifood industry, one of the industries that has the most impact on the environment. Brinc believes that fostering this innovation will help transform the food industry and, by addressing food sustainability, security, safety, and waste reduction, we can create a secure food system for the future. Changing consumer attitudes towards sustainability and an increased focus on nutrition and healthy eating brings added impetus for innovation.
The NEOM partnership strengthens Brinc’s commitment to invest in over 1000 climate-conscious startups over the next five years. NEOM will be powered by 100% renewable energy and driven by advanced technology across all its 14 sectors. This ambitious project is a major attraction to many industries that look to technology to disrupt existing approaches.
Food-focused firms that want to use technology to innovate and bridge the gap between consumers and producers will find NEOM a welcoming home. By applying data and digital technology, NEOM is able to provide actionable insights that power innovation, shaping a food future that brings people closer to the food they eat.
Brinc’s investment mandate in AgriTech and FoodTech aligns with the interests of NEOM and Saudi Food corporates in developing sustainable food systems. Through this partnership, NEOM and Saudi corporates will connect with teams within our portfolio network in the space to further promote sustainable agriculture. Brinc will also be holding private virtual pitch days for relevant startups to pitch to NEOM and Saudi Food corporate leaders, to promote cross-pollination, support expansion into Saudi, and other collaborative opportunities.
NEOM uses traceability and advanced analytics to secure food supply resilience and sustainability. The vision of the NEOM Food Sector, headed by Dr. Juan Carlos Motamayor, is to create healthy and sustainable food systems in NEOM that nourish families and nurture the environment. The strategy is built around four particular areas of growth — climate-proof agriculture, biotechnology-enabled aquaculture, personalized nutrition, and alternative meats, proteins, and dairy. NEOM wants to play a significant role in the food revolution.
“NEOM aims to build a global community where food is at the heart of nourishing both people and the planet,” said Dr. Andrew Yip, Senior Manager for Digital Technologies at Food. “Startup engagement and knowledge sharing is a key component to building an agri-food innovation ecosystem that ensures food security and sustainability for the region and beyond.”
Brinc is one of the earliest venture accelerators globally to invest in FoodTech. Over 50 startups are featured in its AgriFood portfolio, including notable portfolio companies such as Avant Meats, Orbillion Bio, Phuture Foods and GROUNDED. Brinc runs multiple mature programs in this sector, demonstrating the alignment between Brinc’s ESG-focus with NEOM’s sustainability ethos. One of the seven locations where Brinc has a presence includes Manama, Bahrain. The NEOM partnership further opens doors in the Middle East. With a framework that focuses on supporting sustainably focused entrepreneurs and startups, Brinc’s collaboration with NEOM will make an impact on one of the biggest industries, and one that is ripe for disruption: the food industry.
“This past year has highlighted the fragility and interconnectedness of our global systems. However, it has also demonstrated how rapidly we can develop truly transformational solutions if we work together.” said Natalie Lung, Food Tech Program Manager at Brinc. “Our partnership with NEOM is rooted in our belief that we must take a collaborative approach to fix our broken food system. By supporting entrepreneurs and investing in groundbreaking technologies, we hope to rethink a food system that is currently fragmented, unsustainable, and cannot be scaled to meet the growing demands of an ever-increasing global population.”
Together, Brinc and NEOM hold the ability to create a new model for living that embraces sustainable food production, deliver fresh thinking and new solutions are key to change and through these NEOM hopes will become the cornerstone of environmental responsibility and urban sustainability.
Brinc looks forward to a fruitful partnership with NEOM that will continue to inspire and drive startup founders and entrepreneurs to go beyond current norms and challenge what is possible.
Brinc is a different breed of venture capital and accelerator platform. Core to their business is the belief that some of the world’s biggest challenges can be solved by entrepreneurs, who they like to call GAME CHANGERS. Brinc believes that deep technology-focused startups can fundamentally change how we move, what we eat, how we feel and where we live for the better if they are given the right backing. That’s what Brinc believes they are here for. To support and mentor founders and their teams from across the world and provide investment to help them grow. Brinc currently operates twelve multi-disciplinary accelerator programs across six countries and has made 150+ investments. Learn more at www.Brinc.io
NEOM is an accelerator of human progress and a vision of what a New Future might look like. It is a region in northwest Saudi Arabia on the Red Sea being built from the ground up as a living laboratory — a place where entrepreneurship will chart the course for this New Future. It will be a destination and a home for people who dream big and want to be part of building a new model for exceptional livability, creating thriving businesses, and reinventing environmental conservation.
NEOM will be the home and workplace to more than a million residents from around the world. It will include towns and cities, ports and enterprise zones, research centers, sports and entertainment venues, and tourist destinations.
As a hub for innovation, entrepreneurs, business leaders, and companies will come to research, incubate and commercialize new technologies and enterprises in groundbreaking ways. Residents of NEOM will embody an international ethos and embrace a culture of exploration, risk-taking, and diversity — all supported by a progressive law compatible with international norms and conducive to economic growth. Learn more at www.neom.com