PHL startup Mayani selected for Temasek Trust’s mentorship program

From The Business World Online

SINGAPORE — A Philippine startup helping agricultural value chains has been included in a global mentorship program that seeks to help sustainability-driven startups to become commercially viable.

Mayani will receive up to S$250,000 in funding after it was selected to be among the five startups across the world that will benefit from the year-long Amplifier mentorship program of Temasek Trust ecosystem entities — the Centre for Impact Investing and Practices (CIIP) and Philanthropy Asia Alliance (PAA).

Supported by the Impact Innovation Partner Mastercard Center for Inclusive Growth, the program received 139 submissions from 35 countries spanning the areas of energy and power, sustainable food and land conservation, oceans conservation, circularity and waste, among others.

Mayani seeks to reshape rural agricultural value chains in the Philippines by harnessing technology to provide sustainable pathways to markets, boost yield and climate resilience through quality agri-inputs, and drive financial inclusion through alternative rural financing.

Mayani said it has so far signed up more than 139,000 farmers and partnered with over 500 stores.

The startup in 2023 announced its successful seed raise of $1.7 million from a global coalition of investors and has since expanded its grassroots footprint of organized farmers and fisherfolk across seven Philippine regions.

Dawn Chan, chief executive officer of CIIP and Managing Director of Investments at Temasek Trust Capital, said Mayani has also been recognized for its focus on smallholder farmers and fisherfolk.

“Amplifier came at a crucial juncture of MAYANI’s journey as we’re now tackling some of the most pressing problems looming over the agri-fisheries sector: from extreme weather conditions like droughts and biodiversity degradation, to rural financial exclusion and food insecurity,” Mayani CEO and co-founder JT Solis said.

“The sector is challenged in ways that we’ve never seen before. And in our pursuit of those multifaceted solutions that can drive financial returns and positive impact in equal measure, we wanted to leverage Amplifier and the Temasek Trust ecosystem entities CIIP and PAA in charting out that path ahead,” he added.

Among the five startups chosen for the mentorship program is US-based Circ, Inc., which recycle global fashion waste back into textiles and recover cellulosic and synthetic fibers back into the textile supply chain, and Hong Kong-based GRST, which utilizes a water-based electrode coating process to manufacture sustainable lithium-ion batteries with low carbon footprint and high recyclability.

Also included in the list were Indonesia’s MYCL, a biotech company that develops a low-carbon emission composite and leather-like material called MyleaTM, which is used in making footwear, automotive interiors, and building materials.

Indonesia’s Sampangan, which converts all types of unsorted waste into Versatile raw materials through carbonization technology, was also selected for the year-long mentorship program.