ARE YOU READY TO START YOURFOODTECH JOURNEY?
Are you a student, career switcher, food tech enthusiast, leader in your family business or do you simply have an idea to change the future or food? Then SPACE-F is looking for you! Our incubator is dedicated to helping you start your business with mentorship from the regions leading food tech innovators, supporting you on everything from product development to testing your business plan, preparing for investment meetings and hiring your first staff members.Wondering if the incubator program would be a good fit for you? Reach out to us to discuss the possibilities!
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FAQs
SPACE-F Program FAQs
What is the SPACE-F Accelerator Program?
- The SPACE-F Accelerator Program is an intensive 6-month endeavour strategically designed to empower startups within the AgriFood Tech and F&B sectors. It is dedicated to immersive training and mentorship, this program is meticulously crafted to provide emerging ventures with invaluable resources, including expert guidance, exclusive networking opportunities, and access to industry-specific knowledge and insights. Additionally, startups will receive support in fundraising efforts and business matching to facilitate their growth and success in the market.
- In a remarkable development, this year's program boasts the esteemed partnership of four leading corporate entities: Thai Union, Thai Bev and Nestle (Thai). These esteemed partners bring a wealth of expertise and resources to the table, further enriching the program's offerings and enhancing the growth prospects for participating startups.
- Through a strategic blend of mentorship, networking, and collaborative innovation, the SPACE-F Accelerator Program is poised to catalyse the success and advancement of startups, driving meaningful impact and fostering sustainable growth within the AgriFood Tech and F&B ecosystem.
Who can apply for the SPACE-F program?
- Startups and Entrepreneurs engaged in the AgriFood Tech and F&B industries, whether locally in Thailand or globally, are welcome to submit applications for the SPACE-F program. We accept applications from startups at various stages of development, including those in the early stages (incubation track) as well as those further along in their growth journey (accelerator track).
What are the benefits of joining the SPACE-F program?
- Joining the SPACE-F program offers startups an unparalleled array of benefits that can significantly accelerate their growth and success. Firstly, accepted startups will gain access to invaluable mentoring from seasoned industry experts who can provide guidance and insights to navigate the complexities of the AgriFood Tech and F&B sectors. Additionally, the program provides numerous opportunities for startups to expand their networks through exclusive networking events and business matching sessions, where they can connect with potential partners, investors, and customers.
- Moreover, startups participating in the program will have the chance to receive financial support in the form of a generous Thai up to THB 200,000 grant covering their base expenses. Beyond financial assistance, startups will also benefit from enhanced visibility and exposure within the ecosystem, raising their profile and attracting attention from key stakeholders.
- Furthermore, the Space-F program opens doors to exciting fundraising opportunities, providing startups with a platform to pitch their innovative ideas to a wide range of investors, including international venture capitalists, family offices, and major food conglomerates. With such unparalleled access to capital and strategic partnerships, joining the Space-F program caters for startups looking to catapult their growth and achieve their full potential in the AgriFood Tech and F&B industries.
How do I apply for the SPACE-F program?
- To apply for the SPACE-F program, startups need to fill out an online application form. The application typically requires information about the startup, its team, business model, and growth potential.
- Apply to our programs https://forms.gle/ppoANeLBFwnbP8157
What are the eligibility criteria for startups?
- Startups must be operating in the AgriFood Tech or F&B sectors and demonstrate innovative solutions or products. They should have a scalable business model and the potential for growth. Additionally, startups must meet any specific criteria outlined in the program application.
What sectors are eligible for the SPACE-F program?
- The SPACE-F program is tailored for startups operating within the AgriFood Tech and F&B sectors. This encompasses a wide range of areas, including deep food tech, sustainable food tech, innovative food production technology, agricultural technology, novel food processing tech, distribution systems, and associated industries.
How many slots are available in the SPACE-F program?
- The SPACE-F program typically offers a limited number of slots for startups. For Batch 7, there are 10 slots available for each track (incubation and accelerator), totaling 20 slots overall.
What is the duration of the SPACE-F program?
- The SPACE-F program runs for 6 months, providing startups with intensive support, mentoring, and networking opportunities during this period.
What is the difference between the Incubation and Accelerator tracks?
- The Incubation track is tailored for startups in the early stages of development or idea conception, providing foundational support to transform ideas into viable business models. During the 10-week program, startups in the Incubation track will participate in a weekly 3-hour session focused on fundamental business concepts such as market research, product development, business model canvas, financial planning, and marketing strategies.
- On the other hand, the Accelerator track is tailored for more established startups with existing products or services seeking to accelerate their growth and scale their operations. Startups selected for the Accelerator track will have the unique opportunity to collaborate with our esteemed corporate partners, including Thai Union, ThaiBev and Nestle (Thai), on Proof of Concept (POC) projects. This collaboration offers startups invaluable mentorship and guidance, along with the potential to scale their products and services through the extensive networks of our corporate partners.
- In addition to the corporate collaborations, startups participating in the Accelerator track will benefit from a comprehensive curriculum consisting of eight (8) modules. While all modules are valuable, three (3) are compulsory for all participating startups. These modules are carefully designed to equip startups with essential knowledge and skills to navigate the challenges and opportunities in the industry and propel their growth journey forward.
Is physical presence required for startups during the SPACE-F program?
- During the SPACE-F Accelerator Program, startups are expected to participate in both physical and virtual components of the program. While physical presence provides valuable opportunities for face-to-face interactions, networking, and hands-on workshops, we understand that certain circumstances may prevent some startups from attending in person.
- In such cases, exceptions may be considered on a case-by-case basis, ensuring that all startups can benefit from the program regardless of their location or circumstances. Our priority is to provide a flexible and inclusive environment that maximises the learning and growth opportunities for all participating startups.
- For startups enrolled in the accelerator track, there are three sessions toward the conclusion of the program that necessitate in-person attendance, taking place in Bangkok and Singapore.
What resources and support will I receive as part of the program?
- Startups in the SPACE-F program will receive main mentoring from our Project Directors, Ms. Oranuch Lerdsuwankij, CEO of Techsauce & Mr. Sean Mak, COO of Innovate 360 and will be paired with 1 mentor from industry experts, access to networking events and workshops, opportunities for business matching with corporate partners, and potential financial support in the form of a grant.
Will there be financial support available for startups?
- Yes, selected startups may have the opportunity to receive financial support in the form of a grant. The amount of the grant and the criteria for eligibility will be determined by the program organisers.
What are the key milestones or deliverables expected from startups during the program?
- Startups will be expected to achieve certain milestones and deliverables throughout the program, such as refining their business model, developing a minimum viable product (MVP), conducting market validation, and preparing for potential funding opportunities.
What networking opportunities are available in the SPACE-F program?
- The SPACE-F program offers various networking opportunities, including monthly business networking events, industry events, investor pitch sessions, corporate partnerships, and access to a network of mentors and advisors who can provide valuable connections and introductions. Selected startups are given an opportunity to showcase and pitch during Techsauce Global Summit in Bangkok and AFTEA - AgriFood Tech Expo Asia in Singapore.
Will there be opportunities for business matching with corporate partners?
- Yes, startups in the SPACE-F program will have the opportunity to engage in business matching activities with corporate partners, which can lead to potential collaborations, pilot projects, or investment opportunities with our corporate partners, international Venture Capitals companies and Thailand and Global food conglomerates companies and distributors.
What happens after the completion of the program?
- After completing the program, startups may continue to receive support and guidance from the program organizers, alumni network, and ecosystem partners. They will also have the opportunity to showcase their progress and achievements to potential investors and partners.
Is there a demo day or pitch event at the end of the program?
- Yes, the SPACE-F program typically culminates in a demo day or pitch event where startups have the opportunity to present their businesses to a panel of investors, industry experts, and potential partners. This year will be at Techsauce Global Summit and AgriFood Tech Expo Asia in Bangkok and Singapore respectively.
What is the selection process for startups applying to the program?
- The selection process may involve an initial application review, followed by interviews or pitch presentations with program organisers and industry experts. Startups will be evaluated based on criteria such as innovation, scalability, team, and market potential.
How will startups be notified if they are selected for the program?
- Startups will be notified of their selection status via email or phone after the application review and selection process has been completed.
Are there any fees or costs associated with participating in the program?
- No, there are no fees or costs associated with participating in the Space-F program. In fact, selected startups will receive significant financial support in the form of a grant totaling up to 250,000 Thai baht. This grant is specifically intended to cover all expenses related to the startup's participation in the program, including but not limited to travel expenses, accommodation,prototyping costs, market research, and other operational expenses.
- The grant is designed to alleviate any financial burden on startups and ensure that they can fully focus on maximising their potential and leveraging the resources provided by the program. By covering all essential expenses, the grant enables startups to fully immerse themselves in the program activities, engage with mentors and industry experts, and take advantage of networking opportunities without worrying about financial constraints.
- Overall, the provision of the grant underscores the program's commitment to supporting startups and facilitating their growth and success. It allows startups to devote their time and energy to developing their innovations and scaling their businesses, knowing that their financial needs are being taken care of.
- The SPACE-F Accelerator Program is an intensive 6-month endeavour strategically designed to empower startups within the AgriFood Tech and F&B sectors. It is dedicated to immersive training and mentorship, this program is meticulously crafted to provide emerging ventures with invaluable resources, including expert guidance, exclusive networking opportunities, and access to industry-specific knowledge and insights. Additionally, startups will receive support in fundraising efforts and business matching to facilitate their growth and success in the market.
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