Malaysia-based palm phytonutrients supplier company PhytoGaia took home the title during the awards ceremony held in Bangkok on September 18.
It was up against two other finalists which are both manufacturers of finished consumer products.
They are namely Singapore-based elivity by Longevity Science Corporation which focuses on longevity supplements and Australia’s children’s supplement company I’m Nutrients.
The Start-up of the Year rewards new ideas, the potential for change, and commercial success in companies established in the past 5 years. A total of 16 awards were presented.
Speaking to NutraIngredients-Asia a day after the awards ceremony, Bryan See, vice president, business development and technical support at PhytoGaia said winning the awards would encourage the firm to pursue new research achievements.
“It's our honour to receive the recognition and award. Winning this award is a testament to the hardwork and dedication of the entire team at PhytoGaia.
“It encourages to continue pushing the boundaries of research and product development of our palm phytonutrient products,” said See.
The company’s flagship ingredients include TocoGaiaTM – a full spectrum tocotrienols / tocopherol complex and STGaiaTM – which consists of plant squalene combined with tocotrienols / tocopherols.
The former is said to support brain health, cognitive function, and longevity while the latter for skin and hair health.
In fact, the company’s commitment to research was highlighted by the judges.
“Our judging panel appreciated the company’s commitment to quality, sustainability, innovation and partnership. They also noted it has conducted six human clinical trials since its establishment in April 2021, along with clear evidence of commercial success and future growth prospects,” the judges commented.
See echoed that commitment to research was crucial for start-ups to stand out from competition.
“In order for a start-up company to stand out, a commitment to science and research is very important, so that it differentiates your company with another ingredient company.”
To fund clinical studies and new product development, he said that about five to 10 per cent of the company’s profit was dedicated to this purpose.
There are six ongoing clinical trials and the company plans to invest in five other studies in the next 12 months.
"In the next 12 months, we plan to invest in another five new human clinical studies, covering longevity, alcoholic fatty liver, bioavailability of different delivery formats, cognitive health, and sleep quality," said See.
Nutricosmetics in trend, new study on hair growth
One of the company’s ongoing clinical trials, conducted with Monash University, looks at the effects of STGaiaTM on hair growth and skin health.
Squalene and tocotrienols are the main components of STGaiaTM. The former is known to act as an emollient, while the latter could support follicle genesis, according to See.
“When we combine these two ingredients, we believe it will help to moist the scalp and at the same time, promote hair growth.”
The study will involve eight weeks of supplementation and a two-week washout period.
The company is also studying whether STGaiaTM could benefit dry skin, including eczema, in a 70-day trial.
The company is interested in nutricosmetics ingredients as it foresees that there would be a greater demand for these products due to changing demographics globally.
“We observed a global trend where people are marrying late or staying single, and this growing category of population will drive the nutricosmetics market and that will require research and science-backed ingredients.”
While research is core to the company, See also acknowledges that this is a long-term journey and could take years of commitment.
“Investing in research and science is not a short-term investment, it is a long-term investment because carrying out a study requires time and publishing a paper requires time as well.
“You will only harvest or see the results in the next one or two years and by the time you deliver the benefits to the consumers, three to five years would have passed, but it's an important commitment from a responsible company.”
Watch the video to find out more.
