TurtleTree Labs and Alterpacks, two start-ups under the SMU Institute of Innovation & Entrepreneurship’s incubation programme­, BIG (Business Innovations Generator) took the honours on 8 July 2020 at the annual Liveability Challenge, a global platform which calls for companies to create innovative ideas for sustainability in South East Asian cities.

In its third year, the Liveability Challenge is supported by 54 partners around the world and organised by Singapore-based media organisation Eco-Business, which focuses on sustainable development.  It is convened by Closed Loop Partners, a New York-based investment firm which focuses on building the circular economy.

The competition was anchored on three themes this year – urban food production, circular packaging and de-carbonisation.  More than 400 participants from over 60 countries vied for the grand prize of S$1 million in funding, which was sponsored by local non-profit organisation Temasek Foundation. To gain a place in the finals, participants demonstrated how their innovations could not only reap benefits for cities, but were also commercially viable business opportunities.

TurtleTree Labs, fronted by SMU School of Information Systems alumna Lin Fengru brought home the top prize, as champion of the challenge.  Leveraging on cell-based methods to produce full-composition milk, the company is able to alleviate detrimental impacts on the climate and animal welfare by reducing the carbon footprint of milk production by 98 per cent, compared to that of dairy milk.

Lin Fengru, CEO of TurtleTree Labs said, “This will be the future of dairy, and such technology would help solve food security challenges and enhance sustainability around the world. Humbled by the support from Temasek Foundation and the community, we will continue giving back as a business for good.”  TurtleTree Labs also received an additional $100,000 investment and a spot on Antler’s leading accelerator programme with Planet Rise.

Alterpacks, another BIG incubatee from SMU, bagged a spot in the TXG Sustainability Business Accelerator Programme and a mentorship with Closed Loop Partners through a collaboration with Nanyang Technological University.  The company was co-founded by post graduates Karen Cheah and Herbin Chia, both from SMU’s Lee Kong Chian School of Business. It produced an alternative food wrap made from shrimp shells, which provides a biodegradable option to consumers to help reduce food and plastic waste.  Karen Cheah, CEO of Alterpacks said : “ These are real world problems in every society.  The ability to at least make a mark, a start, is our contribution.”

Apart from the accolades received from the Liveability Challenge, Alterpacks also received a support of $550,000 from the Temasek Ecosperity Fund. 

SMU Business Innovations Generator (BIG) is an intensive four-month, equity-free programme that offers early-stage startups and student founders the opportunity to validate their business plans and refine their product. Since its inception in 2009, they have incubated over 230 startups. It is open to ALL, including SMU students, alumni and staff.

For the September ’20 cohort, applications are now open until 31 August 2020. More information is available here.