Last year, the FoodTech Tasmania Program came to an exhilarating conclusion, leaving all our mentors and investors amazed. We had 10 passionate startups who took the stage and shared their creative pitches! Each founder demonstrated their commitment to revolutionise the food industry and foster a circular economy on an international scale.

Now 6 months later, we decided to check in with these startups and hear how they've been! They’re all achieving major milestones - read more below!

: Built a food transparency platform that enables elimination of food waste and allows for increased traceability throughout the entire food value chain – from farm to fork.

 Over the last 6 month TotalCtrl have recruited and onboarded a management team, kicked off their EU project with a goal of ensuring traceability from farm to fork, and closed partnerships and clients. They are now looking for one hotel chain and one restaurant chain partner outside of the Nordics to validate a fully automated inventory system in connection to the EU project.

 Makes organomineral fertiliser from the biosolids of livestock or municipal water treatment stations.

 Received first Grant Settlement disbursement of 430k EUROs for the Transform - Forest Management Project (Total Grant Size is 3.3m).

 Turns waste CO2 into high-value, low-cost proteins and additives for aquaculture, food and pet food.

 has executed an Investment and Development Agreement with NovoNutrients valued at $3mm with intention to pilot and proceed to commercial scale in Australia. 

 Generates real-time alerts and leverage Blockchain technologies to keep an electronic record of activities throughout the transportation value chain.

 Secured several contracts with big-ticket parties: such as: 

Highlyfe POC trial (Canada’s largest Swine company). 

BAADER POC trial (One of the world’s largest poultry processing machinery manufacturers). 

 Creates patent-protected, cage-free probiotic eggs that revolutionise good gut bacteria delivery through the cleanest protein available: the egg.

 Received a research grant for product and shelf stabilization and efficacy underway Summer- Fall. 

Tummi Yummi has been through two accelerators, the I-Corps Spanish Language National Science Foundation lean startup methodology and is finishing up the Social Enterprise Greenhouse accelerator in Rhode Island. 

They’re laser focused on getting to market and will fundraise as such as their shelf life study yields positive results.

 Creates sustainable and commercially viable alternatives to single-use plastic and timber products with agro-based materials.

 Signed contract with the leading box manufacturer in the UK.

 Combines in house designed robotics with the bioconversion power of insects to transform the protein landscape.

 Closed a Pre Series A round of $3M AUD, secured Joint Venture commitment with major partner, began a pilot with a major Australian Retailer, Aldi and is now site scouting for 1st commercial facility.

Trials in progress with JBS Longford (paunch waste), Huon (fish waste) and Simplot (vegetable waste).

 Designs, manufactures and deploys solar-powered cold storage solutions for fresh produce farmers, aggregators and market vendors.

 Increased total number of solar-powered cold storage solution units installed to 36. Projected to close 2023 with a total of 100 installed units serving over 5000 fresh produce farmers and retailers in East Africa.

 Develops functional chocolate with ayurvedic herbs that offers enriched health benefits.

 Selected as one of the beneficiaries of the Government of India backed Startup India Seed Fund Scheme in which Awsum will receiving a soft loan of 40 Lakh Indian Rupees (AUD 74K).

 Creates fermented fruit ingredients for consumer brands who make functional foods and beverages, supplements, and nutraceuticals.

 Have committed their 1st joint venture. Expanded production in Nova Scotia based on wild blueberry farms.

Negotiating supply arrangement with Canada’s largest fermentation research and co-manufacturing center, which would satisfy manufacturing capacity for the next 3-4 years.

It’s so inspiring to see how much can happen in just 6 months. Each of these startups have really utilised the tools they learnt from the FoodTech Program and taken the steps needed to continue growing, evolving and expanding. 

We can’t wait to see all they will continue to accomplish.

Interested in being a part of our next FoodTech cohort? 

Want to hear from previous program alumni how they are doing now? 

The FoodTech 2022 alumni, six months on

DeFi is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. In the rapidly evolving landscape of finance, this type of technology is revolutionising the industry.

stands at the forefront, as an innovative DeFi solution that addresses the limitations ingrained in traditional fintech. 

They are driven by their passion to demystify the complex world of decentralised finance and are determined to show how financial tools can be controlled - anytime, anywhere by users.

The Connecter is breaking the barriers of exclusion in the fintech industry. Their DeFi approach eliminates intermediaries, opening a gateway to financial services for anyone with an internet connection.

No longer confined by geographical limitations or the absence of conventional identification, unbanked or underbanked individuals now have the opportunity to get involved too.

Traditional fintech services are often limited by borders and jurisdictional restrictions. The Connecter's DeFi operates on blockchain networks, making it borderless and accessible to users globally, which eliminates the need for currency conversions.

The Connecter’s DeFi operates on blockchain technology, providing an immutable and transparent ledger of all transactions. This transparency builds trust among users as they can verify and audit transactions in real-time. 

Traditional financial services often come with high fees due to the involvement of intermediaries. Yet, The Connecter is not letting these costly constraints get in the way. Their DeFi eliminates or significantly reduces these fees by automating processes through smart contracts.

By doing this, users keep more of what they earn in their pocket, benefit from lower transaction costs, gain higher interest rates on savings, and earn more favourable lending rates compared to traditional financial institutions.

With The Connecter, users are the sole owner of their keys to their private vault. They retain 100% control over their financial assets, allowing participation in various financial activities with minimal barriers.

Recognising that more than 70% of new users face difficulties opening accounts on existing DeFi apps, The Connecter prioritises user-friendly interfaces and simplified onboarding processes. This ensures accessibility for both seasoned DeFi users and newcomers.

The Connecter also leverages machine learning to provide tailored recommendations and financial guidance, with their AI Robo Advisor. This intelligent tool provides portfolio insights, enhances user experience and lowers the barrier to entry. Using an AI Robo Advisor, The Connecter team makes the DeFi experience more intuitive and tailored to a user's needs.

Security is very important to The Connecter. To address concerns about private key and seed phase management, they have implemented Multi-Party Computation (MPC) login methods and familiar authentication options, like facial biometrics, to ensure robust yet user-friendly security.

The Connecter differentiates itself in the market by going beyond traditional DeFi platforms. With their unique point-of-sale feature, The Connecter allows users to utilise their digital assets in real-world transactions. This feature enhances the practical utility of user’s assets and provides a seamless bridge between the digital and physical worlds.

The Connecter envisions a future where decentralised finance is accessible to a global audience. Joining SBC's Sustainable Fintech Accelerator Program aligns perfectly with this vision as it will help The Connecter reach a diverse user base worldwide. 

Right now they are located in Romania, but with SBC, they now have the chance to expand to the APAC region.

With the Fintech Program, The Connecter will not only gain access to seasoned mentors who will provide insights and refine strategies but they will also connect with potential partners for investments and expert advice.

SBC’s emphasis on sustainable fintech aligns seamlessly with their commitment to creating a platform that not only drives financial innovation but also prioritises sustainability. 

As the startup continues to evolve, they will leverage the resources from SBC and use them to scale their secure, sustainable, and user-friendly DeFi services globally - steering the finance industry towards a more empowered and inclusive future.

See who else is in our Sustainable Fintech 2023 cohort 

The Connecter: DeFi for everyday people

In our March Food Innovation workshops we spoke to food companies to uncover the biggest pains, challenges and opportunities they are facing to unlock growth. One pain that surfaced often was the difficulty companies have in quickly building and testing core business innovation ideas, without burning precious resources or lots of cash.

Several large Fast-Moving Consumer Goods (FMCG) companies we have spoken to are generating lots of ideas, but really struggling to engage consumers to help them efficiently develop, screen them and optimise these ideas.

Most companies have an internal process of screening ideas around what they think will appeal to consumers. The shortlist is then passed on for the R&D team to bring to life. The issue is, how do we really know these are the best concepts?  If it is close to best, what are the guidelines for R&D – what brand works best, flavours, pack types, price point and product claims? Who really is the target consumer? In the wise words of Eric Ries, author of The Lean Startup, the big question of our time is not “Can it be built?" but "Should it be built?”.

One way to answer this is to conduct time consuming and costly qualitative research, using 100s of original concepts and prototypes.  Sometimes, the risk and reward equation warrants this – if we are looking at high potential, high growth opportunities.  But even then, many smaller companies don’t have the resources to do this.

And here lies the challenge: How do we quickly and cost effectively de-risk our innovation funnel and prioritise what to do first and where to spend precious capital?

One Solution: Digital Minimal Viable Products (Digital MVPs)

Let’s take a look at an example: imagine that your company held a hackathon based around the challenge statement “How can we help consumers to snack healthily in the afternoon?”.  The hackathon has generated approximately 100 ideas.

When shortlisting the most compelling ideas, companies usually collate the ideas into themes. This might emerge with 20 or so themes that are crafted into concepts.  Companies then will typically conduct qualitative consumer research, using focus groups of approximately 10-12 people per session. Consumers are asked to give a view of their intent to purchase each product, what they like/dislike about its attributes and provide suggestions for improvement.

Conducting this with 20 or so ideas will be costly and time consuming, unless you are lucky enough to have access to a large panel of engaged consumers and can do this online. The other challenge with focus groups, is that you are hearing only what people rationally think of first, rather than observing actual behaviour.  Often the “what” people say and what they “do” don’t match up!

What if you could test all 20 themes by running a series of digital experiments? What if instead of reaching 50 consumers you could reach thousands?  What if you could employ experimental design to also test things like brand, flavours, pack types, price point, product claims, taking the number of ideas to 100 (or more), within the same test?  What if this showed who your most engaged consumers were and you could measure their actual purchase behaviour? All this for approximately the same cost (or cheaper) and within half the time it usually takes to conduct focus groups.

This is where growth hacking comes in. According to 

 “growth hacking” is the mindset behind finding clever, original or inventive ways in order to plant growth on a product or service, through the use of data, technology and sometimes a system’s weakness exploitation”.

Growth hacking experiments could be used for testing all 100 ideas as digital MVPs, quickly refine the funnel and find the optimum mix of features. It’s a bit like running focus groups on steroids. The experiments provide quantitative data at an earlier stage in the process and help to narrow down what physical products to build in the lab or kitchen.

Digital MVPs can also be tested in product/technology groups based on your early stage technical feasibility assessments. The results can be used to help your engineering teams build technology, then manufacturing roadmaps.

Growth hacking is just one example of the many ways a structured innovation process can speed up an organisation's innovation funnel and enhance a company’s growth.

At Startupbootcamp we teach growth hacking to the next generation of innovators, marketers and entrepreneurs through The Talent Institute (TTI), we implement it with our corporate clients, and we live it through our startup accelerator programs. If you are interested in finding out more about how you can apply growth hacking to your corporate innovation program please reach out to us.

, Consumer Science Consultant Bite Food Innovation Lab. 

FOOD INNOVATION: How to Build & Test Ideas in your Innovation Funnel

 has blurred as these two sectors increasingly intersect. 

For instance, managing finances online has become increasingly easier through mobile banking, online transactions, and robo-advisors.

We are in an age of digital transformation, where in the coming years, we may not use some of the traditional companies or resources we currently have available. 

Compared the traditional way, fintech is quick and easy. Many fintech platforms offer detailed bank data analytics, which allows banks to gain valuable customer insights, increase efficiency, and monitor transactions more effectively than they could before.

We are seeing an increase in fintech startups, booming in both Melbourne and Sydney, Australia too.

“Australia’s fintech sector has continued to mature rapidly throughout the pandemic, with record investor capital raised and an increasing number of startups moving to post-profit,” says 

With Australia's fintech sector evolving at such a remarkable pace and new fintech startups coming out almost daily, it's crucial to understand what’s pushing this transformation forward.

Fintech is making an impact through the new technologies that are reshaping the landscape—think open banking, embedded finance, artificial intelligence, machine learning, and alternative lending. Let’s take a deeper dive:

 creating a connection between technology companies, financial institutions, and their customers by allowing third-party services to access financial data. These services are helping customers solve solutions with budgeting apps, investment platforms, and even receive loans.

 involves incorporating financial services into non-financial platforms such as online showing or purchasing items through mobile apps. Embedded Finance is incorporated into many aspects of the financial industry and is continuing to grow exponentially. 

Artificial Intelligence and Machine Learning:

 are the two main engines behind the data-driven financial transformation. By using AI (chat to customers) and ML (interact with customers), fintech startups are using these to automate tasks such as managing client data, detecting human errors, preventing fraud, recommending new strategies, and much more. With this technology, companies are operating more efficiently and cutting down on costs. AI and ML are chatting to customers if they have any issues or questions, which in return, is increasing customer satisfaction.

 are lending models that are different from borrowing money from a bank, which are providing access to different credit. The most common forms of alternative lending would be peer to peer lending, crowdfunding, or online lending marketplaces. This trend is rapidly growing due to the fact there is an increasing demand for fast and accessible credit.

These technologies are adapting quickly into our society and making it easier to invest, receive loans, or make purchases. 

But, it is essential to create a balance between the opportunities and connivence fintech can offer while also being aware of the potential risks. For instance, when you’re sharing your data and personal information, there is a chance you could lose privacy, risk fraud, and experience discrimination from the use of data analytics.

It’s important to remember that, at the end of the day, it’s up to you on how you want to manage and invest your money. 

A well-informed approach can help you make the most of these technology advancements while also keeping your financial well-being safe.

The fintech industry is not going anywhere and will only continue to rapidly expand. According to 

 the Australia Fintech Market is predicted to reach “USD $33.99 billion by 2033 with a CAGR of 28.5%” 

So as time goes on, we must continue to adapt and stay up to date with current changes in fintech in order to empower ourselves and to contribute to the advancements in the fintech industry.

If you’d like to be a mentor and share your fintech experience, learn more 

If you’re interested in contributing to both innovation and sustainability, check out our Sustainable Fintech Fund 

The Impact of Fintech: Pros and Cons

As we finish our third week of this year’s Sports and EventTech program, we are excited to introduce another member of the 2022 cohort- 

.  We met with SparkUp Studios founders Luke Santamaria and Matt Fenby to learn about their first product, SportzFan, and their mission to optimise fan communities.

Sports fans are becoming increasingly digitally-oriented while sports teams, and their sponsors, are still using outdated methods to connect. The team at SparkUp Studios recognise this disparity and saw how it's leading to poor fan engagement. 

With that, they created their first product, SportzFan. It's a white-labelled solution for connecting with, and commercialising, a more digitally-oriented audience. SportzFan uses tokenized, play-to-earn game mechanics which motivates fans to consume the content of their favourite sports teams, and their sponsors.

In addition to engaging digitally-savvy fans, SportzFan will also bring a first-party data channel to sports teams and their sponsors. This will provide fan-behaviour data so teams and their sponsors can offer hyper-personalised consumer experiences.

As the discussion evolves, Luke and Matt shared their individual takeaways from selection day. Luke was excited about the deep industry experience across the mentors they spoke with and Matt enjoyed being asked about, and given advice on their business model. He was encouraged, as a starting point, to look into the selectivity of the teams and clubs they work with and how to grow a critical mass of fans.

SparkUp Studios is a relatively early-stage startup and its founders have three main objectives they hope to accomplish through the Startupbootcamp accelerator process. 

They want to develop a solid commercial strategy for both sports teams and their sponsors; 

They want to improve their product-market fit by refining their product; 

And they want to learn from the wide range of Startupbootcamp mentors to become investment ready.

Interested in SparkUp Studios’ vision for sports fan engagement? You can apply to become a mentor for the Sports and EventTech program 

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