A recap on 2022 - ImpacFat's Journey
2022 was a year of opportunities and growth for ImpacFat. As a new startup in the Singapore alternative protein scene, we wanted 2022 to be a year where we make new connections and reach out to people.
We started off with participating in Innovate360's 2022/2023 cohort, Big Idea Venture's Cohort 6 and Creative Destruction Lab. Our team gained valuable insights from various mentors from the various programmes.
"Being part of the Innovate360's 2022/2023 cohort was a good bridge between Impacfat and other companies which may potentially be our future collaborators (ingredients and food manufacturing companies) and service providers. The sessions were fun and interesting especially with food tasting sessions and on-site visits." - says Cheryl Wong, our Food Scientist & Product Lead.
We then challenged ourselves by taking part in the Liveability Challenge 2022, presented by Temasek Foundation and organised by Eco-Business, in partnership with Ecosperity Week 2022.
ImpacFat was chosen among 400 applicants from more than 60 countries as a sustainable idea to make Southeast Asia’s cities more liveable, resilient & meet the increasing demand for food. We had the honour to pitch at the grand finale event and even securing an investment prize from Quest Ventures.
We also took part in the Asia-Pacific Agri-Food Innovation Summit 2022, in which we were announced as the winner for the pre-summit pitch-day. Mandy Hon, our Managing Director questioned the consumers' perspective on fat, "As a consumer, we may think that fat is bad and want to reduce our fat intake. However, ImpacFat wants the world to know that fat can be good too."
Finally, our biggest milestone for 2022 would be holding our first ever tasting event at the Big Idea Ventures Demo Day. Our first tasting event was approved by the Singapore Food Agency and it was a privilege to have participants from various big players in the alternative protein industry. Through this event, we wanted to let people know the importance of our cultivated fish fat and how big of a difference it can make.
Our next step in 2023 would be to firstly, accelerate the pilot scale production of our cultivated fish fat. This would allow us to foster potential B2B partnerships in the future. We would also like to establish first end product with incorporated of cultivated fish fat (through partnerships and product development with plant based company), bringing our cultivated fish fat closer to you. Finally, we will complete our seed round fundraising so that we can focus on revolutionizing use of alternative good fat.