While China remains a powerhouse of innovation in Asia-Pacific—both Tencent and the Alibaba-backed logistics startup Cainiao are on our list—companies across the region found game-changing solutions to difficult problems. South Korea’s Seegene helped the world diagnose the novel coronavirus quickly and effectively. India’s MilkMantra allowed the country’s small-scale dairy farmers to bring their products to market, while ensuring quality control. And Australia’s ProAgni has cleaned up the food chain by developing antibiotic-free supplement for cattle and sheep. Read on for more of this year’s best in Asia-Pacific.
1. Seegene
For producing a COVID-19 diagnostic test and taking it global, sending more than 55 million test kits to 67 countries
The biotech company built a molecular diagnostic test for the COVID-19 virus, which helped South Korea contain the virus in the spring of 2020: 80% of South Korean COVID tests taken in April were made by Seegene. As the coronavirus spread, the company went global, sending over 55 million test kits to 67 countries.
2. Milk Mantra
For partnering with USAID to launch an initiative that lets small-scale dairy farmers access their payments digitally
Odisha, India-based Milk Mantra sources, packages, and sells dairy products to more than 10,000 independent retailers and subscribers. The company works with farmers to process and test the milk to control product quality. This year Milk Mantra partnered with USAID to launch an initiative to let farmers access their paychecks digitally (previously, some had to travel long distances to access their finances). Milk Mantra also reduced its payment cycle to five days—from 10—to help farmers access their funds faster and avoid disrupting their operations.
3. PolicyBazaar
For insuring against job loss and helping those who do get laid off repay their loans
In response to COVID-19-related layoffs and furloughs across industries, India’s largest insurance aggregator launched a job loss insurance vertical. The vertical offered coverage for those who lost their jobs in layoffs, helping them pay off loans for up to three months. It also covers those who can’t work due to an injury, disability, or death giving them salary benefits for up to two years.
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