The SusHi Tech Challenge 2024, a two-day pitch contest, was held at SusHi Tech Tokyo 2024 hosted by the Tokyo Metropolitan Government on May 15, 2024, with 20 startups selected from 507 startups from 43 countries and regions around the world through a document review process. Fermenstation Co., Ltd., a company that uses proprietary fermentation technology to regenerate and recycle unused resources, won the competition.
SusHi Tech Tokyo 2024 is one of the initiatives to promote “Sustainable High City Tech Tokyo = SusHi Tech Tokyo,” which creates new sustainable value. SusHi Tech Tokyo 2024 is a large-scale international event that is expected to attract 500,000 participants, and aims to generate a variety of benefits, including an increase in the number of startups originating from Tokyo, solutions to issues through inter-city cooperation, and social implementation of cutting-edge technologies in Tokyo.
The SusHi Tech Challenge 2024 was held as part of the Global Startup Program, one of the programs of SusHi Tech Tokyo 2024. Among the seven finalists selected from among the 20 semi-finalists, in addition to Fermenstation, there were other overseas circular startups that are engaged in waste reduction and upcycling, such as a biotechnology company that utilizes insect larvae and a biodegradable bioplastic company.
The photo shows a pitch by Entomal Biotech Sdn Bhd, a Malaysian biotech company.
SusHi Tech Challenge 2024 Finalists (company name and business summary)
| Entomal Biotech Sdn Bhd | A Malaysian biotechnology company. Working to reduce waste by using manure from insect larvae as organic compost. |
| Cool Innovation, Inc. | A company that has refrigeration technology for storing and thawing fruits, vegetables, and other foods and fresh flowers at optimum chilled temperatures with high humidity, thereby enabling long-term food storage while preserving freshness. |
| BUYO Bioplastics Company Limited | A bioplastics startup in Vietnam. Converts bio-waste and plant-derived materials into biodegradable bioplastics |
| Fermenstation Co., Ltd. | Converts unused biomass such as food loss, out-of-spec agricultural products, and abandoned farmland into high value-added materials using proprietary fermentation upcycling technology |
| CancerFree Biotech | Provides personalized cancer drug screening for cancer patients and avatar culture systems for biopharmaceutical partners using proprietary culture technology |
| E-Port Pte. Ltd. | Provides an online platform to streamline marine transportation by minimizing vessel arrival time |
| Degas Ltd. | Providing finance for DXing the agricultural value chain using technology and farmer credit formation in Ghana, West Africa |
Rina Sakai, Fermenstation Co., Ltd.
In response to the win, Rina Sakai, President of Fermenstation, said, “It means a lot that our company, which aims for both business and social aspects under the theme of Circular Economy, was recognized at a place where startups from all over the world have gathered. It has given us the strength to move forward with an even greater vision.” We are very happy to have received this recognition.”
“We also met with many startups and companies facing similar challenges, as well as domestic and international players. Together with these people, we will make the circular economy a common sense.” She expressed her enthusiasm for the project.
Fermenstation Co., Ltd. is a circular startup that produces high-value-added biomaterials by combining unused biomass with fermentation upcycling technology. Currently, the company is also embarking on a new business focused on R&D and raw materials, and aims to become a top player in the field of petroleum-free and high-performance biomass materials for overseas markets with the goal of global expansion in the future.
[Reference] SusHi Tech Challenge 2024 Pitch Contest
[Related Site] Fermenstation Co., Ltd.