How David Yeung Founder And CEO of Green Monday Raised $70M To Construct A Multi-Faceted Global Ecosystem Of Future Food?

David Yeung is the Founder & CEO of Green Monday Group, a multi-faceted social venture with the mission to take on the world’s most pressing crises of climate change, food insecurity, and public health.

With the global sustainability movement initiated by Green Monday Foundation, the revolutionary food technology innovation in OmniFoods and OmniPork, the market transforming plant-based retail, dining, and distribution network in Green Common, and the impact investment arm in Green Monday Ventures, Mr. Yeung has pioneered a one-of-a-kind integrated platform that engages and empowers millions of people, along with public and private sectors, towards green awareness, action, and economy.

His work earns him the award of “Social Entrepreneur of the Year” by the World Economic Forum and Schwab Foundation. Other honors and recognitions include Fortune’s 2020 “Change the World” Company, “Roddenberry Prize,” “Cathay ChangeMakers 2020”, “Company of the Year 2019” by PETA Asia, “Ten Outstanding Young Persons Hong Kong” and “50 Most Innovative Companies” by Fast Company. As a noted environmentalist and entrepreneur, Mr. Yeung has spoken at the World Economic Forum, Milken Institute Summit, TEDx, as well as financial and academic institutions such as UBS and UCLA.

International media coverage of Green Monday and Mr. Yeung include BBC, Bloomberg, CNBC, CNN, Nikkei Asian Review, and Reuters. Mr. Yeung is a graduate of Columbia University, an Ashoka Fellow, and the author of a number of best-selling books on Zen wisdom and mindfulness.

In an exclusive interview with AsiaTechDaily, David says:

Telling a good story and having an ambitious goal is one thing, but the execution is a whole different story.

Staying focused and leading (or even owning) a specific domain is better than trying to do everything yet end up not excelling in any.

By driving a positive impact on my work, I get to live a fully meaningful life. That is the best motivation.

Read on to know more about David Yeung and his journey.

Please tell me about your personal background and What motivated you to get started with your company?

David Yeung: I have been a vegetarian for 20 years. I always like to say that food is cultural, emotional, and social. Do I miss meat? No. But do I miss dim sum or hot pot? Yes. That said, if there are no vegan choices, it makes it very awkward or even depressing to visit those places, and socially very inconvenient. Having meat-alternative options that allow vegans to enjoy normal social life and non-vegans to try some plant-based foods is optimal.

Also, our world faces many problems: climate change, food insecurity, public health issues, and population explosion. The nexus of these urgent global crises is the food industry, or more specifically, our overconsumption of meat. Green Monday was established to provide a common platform that institutions and individuals can contribute to sustainability and health.

What is your current main product, and can you share any previous product pivot story to the current product?

David Yeung: OmniFoods, a foodtech company, is a member of Green Monday Holdings. Established in April 2018, its mission is to innovate food that will treat the planet right, treat animals right, and treat us right. Their established food scientist team in Canada innovates food 2.0 based on Asian eating culture and cooking habits while ensuring that the ingredients are cruelty-free, cholesterol-free, antibiotic-free, and hormone-free. The launch of OmniPork, the first product of OmniFoods, has attracted international attention. It has launched in several global markets in just two years and has become a popular plant-based ingredient. In May 2020, OmniFoods launched OmniPork Luncheon and OmniPork Strip, leading a new wave in the foodtech trend. OmniFoods also has a ready-to-eat series–OmniEat, that provide a range of healthy and nutritious ready-to-eat food.

How much money have you raised in total so far? When was the recent funding round?

David Yeung: Green Monday Holdings successfully raised over US$70M in its first major funding round, the largest funding round for plant-based food companies to date in Asia.

What were the internal decision processes in determining when to begin fund-raising, and what were the logistics for this? And how many investors have you met so far, and how did you meet these investors, and which channels worked best for you?

David Yeung: Green Monday Holdings selects our partners and investors through stringent criteria – those with a proven desire to have a positive impact and those who will channel their power help solve the world’s imminent challenges – climate change, public health, and food crises.

What are the biggest challenges and obstacles that you have faced in the process of fund-raising? If you had to start over, what would you do differently?

David Yeung: In Asia, the startup ecosystem is clearly not as robust as, say, Silicon Valley. Investors are much less willing to explore novel concepts. That said, if I had to start over, I wouldn’t change anything because, ultimately, if we need to create the maximum impact, we must create change in Asia.

What are your milestones for the next round? And what are your goals for the future?

David Yeung: Green Monday Holdings will further enhance its existing robust product line and portfolio by launching 6 more OmniFoods and Green Common products. The total number of OminiFoods products is expected to reach from the current 11 to 17. We will also introduce new products from partner brands to our Green Common stores.

To satisfy the rising demand for its products, Green Monday Holdings will boost its production capabilities by expanding the existing manufacturing facility in Thailand and establishing a mega-production line in China.

How have you attracted users, and with what strategy have you grown your company from the start to now?

David Yeung: With Green Monday, we have created the movement to motivate people to go plant-based at least one day per week.

Meanwhile, with Green Common, we have created a one-stop lifestyle destination for people to try innovative plant-based products from around the world. Finally, with OmniFoods, we are innovating new products that cater to Asian palettes and needs.

Which has been the best marketing software tool for the growth of your startup, and why?

David Yeung: It isn’t necessarily a single market software tool, but rather a combination. Social media plays a big role in helping to spread awareness.

What do most startups get wrong about marketing in general?

David Yeung: I recently read a Top 10 List of startup mistakes. Among those are a) build something that customers and the world don’t need; b) Lack of focus. Disruption for the sake of disruption can be a trap that many startups may fall into.

How do you plan to expand globally?

David Yeung: We are actively looking to expand Green Monday within the region. Green Monday Holdings cover more than 10 markets, include Mainland China, Hong Kong, Macau, Taiwan, Singapore, Thailand, Malaysia, Philippines, Japan, Cambodia, Vietnam, Indonesia, United Kingdom, Australia, New Zealand, United Arab Emirates.

What are the most common mistakes companies make with global expansion?

David Yeung: Assume success in a certain country/region will automatically translate to success in another.

How do you handle this COVID-19 outbreak situation for your company’s survival in the future?

David Yeung: Our company is all about building a sustainable food system by moving the world to be less dependent on animals and meat. By doing so, we can move the world to a place that will be less prone and susceptible to this kind of outbreak.

What are the most common mistakes founders make when they start a company?

David Yeung: Telling a good story and having an ambitious goal is one thing, but the execution is a whole different story.

Staying focused and leading (or even owning) a specific domain is better than trying to do everything yet end up not excelling in any.

What’s the best advice you’ve ever received? And What advice do you have for someone who is interested in doing similar things like yours or in a similar direction?

David Yeung: Failing a certain task (or even a company) doesn’t mean failure as a person. No success can be achieved without setbacks or failures. Turn those learning into wisdom and grow from them.

What are the top-three books or movies (TV series) that changed your life and why?

David Yeung: Search Inside Yourself; 7 Habits of Highly Effective People; plus all books related to Zen.

How do you keep yourself motivated every day?

David Yeung: By driving a positive impact on my work, I get to live a fully meaningful life. That is the best motivation.

What are the top- three life lessons that you want your (future) sons and daughters to know?

David Yeung: To live in the present moment; To help others is the biggest blessing in life; To embrace failure or setback, learn and grow from them.

What would you like to be remembered for?

David Yeung: I don’t concern myself with how or what I will be remembered for. Cherish the process and the life journey. Whatever others think is up to them.

You can follow David Yeung here.

https://twitter.com/GreenMondayHK

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