Korean Agri-Food Startup ‘Deep Plant’ Achieves Feat of Being Named a TOP 50 Company at Global Deep-Tech Competition

<Choi Jae-ha, Global General Director of Deep Plant Co., Ltd., presents on stage at the global deep-tech startup competition 'SLINGSHOT' in Singapore, where the company was selected as a 'TOP 50' finalist. Photo courtesy of the Korea Agriculture Technology Promotion Agency.>

The Korea Agriculture Technology Promotion Agency (KOAT, President Ahn Ho-geun) announced that Deep Plant Co., Ltd., a company supported by KOAT's global accelerating program, advanced to the 'TOP 50' at the global deep-tech startup competition 'SLINGSHOT 2023,' held in Singapore on October 31st of last year.

'SWITCH 2023,' held since 2016 and marking its 8th anniversary, is a leading global startup exhibition that brings together startups and investors from around the world, including the US, Europe, and Asia. It is hosted by Enterprise Singapore and sponsored by the Prime Minister's Office of Singapore. The event consists of conferences, networking sessions, and a competition (SLINGSHOT), attracting approximately 9,000 participants, including startups and investors from all over the world.

In particular, 'SLINGSHOT 2023' is Southeast Asia's largest deep-tech startup competition, recruiting startups in five deep-tech categories: Consumer Goods and Services, Digital Technologies, Environment and Energy, Manufacturing and Trade, and Health and Biomedical. Approximately 4,700 startups participated in this year's competition, and the TOP 50 were selected through three rounds of intense preliminary stages starting in June.

Deep Plant Co., Ltd. was named a TOP 10 finalist in the 'Consumer Goods and Services' category, placing it among the overall TOP 50 across all five sectors.

Established in 2019, Deep Plant is a domestic food-tech startup that holds a patented 'Artificial Intelligence (AI)-based Deep Aging' technology for enhancing the umami flavor of low-grade and non-preferred cuts of meat. The company's technology has the advantage of tenderizing meat and enhancing its flavor in a short amount of time by activating enzymes distributed in the protein without any chemical additives. Utilizing this technology, Deep Plant is currently developing high-value-added products with major Korean corporations.

Choi Jae-ha, Global General Director of Deep Plant, expressed his ambition, stating, "We were the only Korean food-tech company to be selected in the TOP 50 at this competition. We will do our best to showcase the stature of Korean food-tech to the world."

KOAT has provided multifaceted support for the successful commercialization of Deep Plant's Deep Aging technology through initiatives such as the 'Agri-Food Venture and Startup Support Program (Ministry of Agriculture, Food and Rural Affairs)' and 'National Patent Technology Transfer (Rural

Development Administration).' Deep Plant's expansion into Singapore was carried out through the 'Pan-Ministerial Collaborative Global Accelerating Support Program (Ministry of SMEs and Startups, Korea Institute of Startup & Entrepreneurship Development).' As the lead agency, KOAT is supporting the overseas expansion of 20 advanced agri-food startups, including Deep Plant.

Ahn Ho-geun, President of KOAT, said, "We will provide support in various ways to promote the excellence of K-food-tech to the world and to help more domestic startups attract overseas investment."

By Reporter Lee Yeon-kyung world@nongmin.com