Even more news from China this week: VC firm New Crop Capital, an early investor of Beyond Meat, together with its Chinese investment partner Dao Foods, launch a new incubator project for plant-based startups and entrepreneurs. The incubator is already open for applications, as reported by Green Queen this morning.
The new incubator will be open to five plant-based startups per each cohort, which will consist of a six month bootcamp offering mentoring, courses and workshops, and financial support of up to 500,000 RMB (US$70,600).
The news follows Dao Foods and NCC’s investment in Chinese foodtech company Starfield Food just last month. Since the investment, Starfield Food and Science Technology, which creates China’s only ground beef analog, has now partnered with six restaurant chains: Papa John’s, Brut Eatery, Hong Li Village (红荔村), Nayuki, Gaga Chef and Element Fresh – to launch dishes containing its plant-based meat ingredient across hundreds of restaurants in in the Chinese market.