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EQT unveils 10 shortlisted companies in the EQT Impact Challenge

Samantha Chiew
Samantha Chiew • 5 min read
EQT unveils 10 shortlisted companies in the EQT Impact Challenge
The 10 shortlisted startups in the EQT Impact Challenge.
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In its pursuit to discover and nurture the next wave of ground-breaking start-ups, the EQT Impact Challenge, in partnership with The Edge Singapore and E27, is pleased to unveil the 10 innovative contenders for its Southeast Asia 2023 edition.

The selection of these start-ups underscores EQT Impact Challenge’s commitment to fostering innovation in both planetary and human-centric spheres. Following this round, the 10 shortlisted start-ups will be further shortlisted to five start-ups.

The chosen five will attend Pitch Day on Nov 14, where these candidates will then undergo a coaching session hosted by EQT, where investment professionals impart insights into crafting compelling pitches. Ted Persson, a partner at EQT’s venture capital fund EQT Ventures, will lead the training and provide feedback to these selected start-ups.

After that, the five start-ups will go through another round of elimination by a hand-selected panel of juries, and one will emerge as the winner. The competition winner will receive a EUR100,000 investment from EQT Foundation, complemented by 300 consultancy hours from Ernst & Young to finesse their strategy and business development. Furthermore, they will gain privileged access to EQT’s comprehensive network and specialist knowledge to propel their growth trajectory.

The first and second runners-up will receive an invaluable opportunity to engage with EQT Foundation’s investment team to secure funding for their impact ventures potentially.

1. Cellivate Technologies

See also: Empowering Singaporean youths to be social changemakers with AI

An advanced biotech enterprise, Cellivate Technologies focuses on providing cell-based solutions to replace the slaughter of animals, using sustainable cell technologies. Founded by Viknish Krishnan-Kutty in 2019, Cellivate’s proprietary solutions cost a fraction of what is currently deployed in the market. It is currently working with clients in three sectors: skincare, cultivated leather and cultivated meat.

2. EcoWorth Tech

Committed to environmental sustainability, EcoWorth Tech, founded by Andre Stolz, has developed a breakthrough technology that efficiently purifies and reclaims water from various waste sources, mitigating water scarcity issues. This cleantech company commercialises the Carbon Fibre Aerogel technology to focus on waste-to-worth-creating applications in industrial wastewater treatment, as well as oil & gas decontamination, providing financial, environmental and social benefits.

See also: How will tech and AI pave the way for a more inclusive world?

3. Umami Bioworks

Founded by Mihir Pershad, Umami Bioworks specialises in sustainable food innovations. It aims to deliver a range of alternative protein products, emphasising both nutritional value and eco-friendliness. The company uses its machine learning toolkit Alkemyst which leverages computational biology, machine learning and digital twin technology to accelerate the product development process. It focuses on farmable, ETP (endangered, threatened or protected) seafood species that are highly desired by consumers.

4. Materials In Works

Pioneering in the field of sustainable materials, this start-up focuses on crafting eco-friendly alternatives to common construction and packaging materials, reducing environmental impact. The company was founded by a group of enthusiastic packaging material experts with proven track record in Southeast Asia and Oceania. Materials in Works upcycles waste into raw material (recovered cellulose pulp), which is then sold to manufacturing companies to produce the end-product and complete the upcycling journey.

5. Qarbotech

Qarbotech’s founder Chor Chee Hoe believes that plants can play a bigger role for man, much more than just a food source or a way to green homes. Qarbotech has developed a patent-pending technology QarboGrow that is the first in the market photosynthesis enhancer for plants. This product helps to increase plant growth and shorten crop cycle. This means that the plants are able to process more carbon dioxide, helping to reduce greenhouse gas in cities and releasing more oxygen for better air quality.

6. Insectta

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Chua Kai-Ning believes that there are more to insects than them being a pest. Tapping into the potential of insects, Insectta combines nature and cutting-edge technology to allow insects to add value to everyday life. The company’s proprietary insect biomaterial extraction technology transforms black soldier flies into multiple biomaterials like chitosan and melanin, which are valued in biomedicine, cosmetics, organic electronics and more.

7. Enlipsium

Yzhar Perry and Tommy Tham co-founded Enlipsium in 2020 as an advanced material startup. The company holds three patents in the area of perovskite and luminescent materials. Being one of the first companies in the world to have successfully taken X-ray images with nano-perovskite scintillators, Enlipsium continues to build on Naneos materials, Polyipnos luminescent materials, and its Enlit range of products for the healthcare, supply chain, as well as the building and construction industries.

8. NousQ

After a humanitarian medical mission to Cambodia, Dr Lynne Lim heard her calling. She and Gan Chee Wee co-founded NoisQ to design, develop, manufacture and commercialise medical technology and devices for patients. Prior to that, Lim and Gan developed their medtech product CLiKX to help children with Otitis Media in rural areas where surgical facilities are not readily available.

9. ImpacFat

With an emphasis on health and nutrition, ImpacFat innovates in the domain of functional foods. Co-founder Mandy Hon aims to cultivate fish fat using stem cell technology to generate a sustainable source of food that not only satisfies taste buds but also offers numerous health benefits. The fish cells are sustainably sourced from different fish species, then cultivated in a controlled environment to become healthy fat cells that are high in omega 3.

10. Full Circle Biotechnology

Full Circle Biotechnology’s founder Felix Collins is dedicated to harnessing biotechnological processes to create sustainable aquaculture feed. It has developed a waste-to-protein production system, where it combines food waste with black soldier fly larvae and microbes, which offers farmers the chance to cut both emissions and costs while providing an alternative to soy meal, fishmeal and other more carbon-intensive feed ingredients.

Vote now for your preferred start-up to reach the top five.
Voting link: https://e27co.e27.co/eYyY
Voting period: Nov 2-7

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