TissenBioFarm, a South Korean startup focused on cultivated meat, has been chosen to participate in the “SAMSUNG Welstory TechUP+” program. The program, created by Samsung and startup accelerator FuturePlay, aims to discover and support promising startups in sustainable future food technologies. Over 20 weeks, TissenBioFarm will participate in an acceleration program provided by both companies. Then, follow-up collaboration projects and strategic investments may occur depending on Samsung’s strategic initiatives.
Cultured meat is a new technology that creates meat by growing animal cells outside the animal body, eliminating the need to raise and slaughter livestock. As a result, it has recently been in the spotlight as an alternative protein source. In line with the direction of pursuing ESG management, Samsung selected startups that contribute to sustainable food systems through a rigorous verification process. The company has demonstrated great efforts for ESG management by publishing an ESG report for the first time in the Korean food distribution industry in 2021 and expanding the application of food upcycling in 2023.
TissenBioFarm is a food technology startup from a tissue engineering lab of POSTECH, Korea’s top-tier research university. Wonil Han, CEO of TissenBioFarm, expressed his excitement about the TechUP+ program. He stated that the company aims to become a global leader in cultivated meat by enhancing its technologies and go-to-market strategies. Furthermore, TissenBioFarm will pursue sustainable growth based on its groundbreaking proprietary technologies and provide eco-friendly and sustainable foods to consumers through cooperation with SAMSUNG Welstory.
TechUP+ is an open innovation program where startup accelerator FuturePlay discovers, supports, and invests in excellent early-stage startups with big corporations. Two companies were selected for the SAMSUNG Welstory TechUP+ program based on their technological competitiveness and business potential. Through the program, TissenBioFarm will have the opportunity to enhance its technologies and go-to-market strategies, with the potential for follow-up collaboration projects and strategic investments from Samsung.
Image provided by TissenBioFarm