CEO and Lead Innovator: Preston Wong
“The future economy is one that is open to exploring fresh ways of doing things, and combining the power of different disciplines to create new opportunities. It is one that leverages on automation, data and intelligence to constantly create new solutions, processes and businesses, alongside unlocking the untapped talents, creativity and potential of individuals.” – Preston Wong
TURNING TRASH INTO ‘TREATSURE’
When Preston Wong witnessed his family throwing out uneaten food from the refrigerator because it was expiring, he saw not just wastage, but opportunity. Together with Kenneth, his co-founder, he created Treatsure – an app that aimed to get people to treat food as treasure. It is a platform where merchants can easily sell surplus food to customers, minimizing the problem of food wastage.
READY FOR TOMORROW’S CHALLENGES
Over the past 10 years, the amount of food wasted in Singapore has risen almost 50%. In 2015, approximately 790,000 tons of food was thrown out. Treatsure turns this food into a source of profit for businesses. Since launching, they have acquired partners such as Grand Hyatt Singapore, Chewy Junior, SaladStop! and more, and created their own ‘buffet-in-a-box’ takeaway concept.
SEARCHING OUT NEW OPPORTUNITIES
Sustainability and reducing waste is something many companies see as important. Practicing those ideals, however, has its challenges. Treatsure makes it easier for businesses to do so by giving them a platform that connects them to a ready and hungry audience. In the future, they hope to be able to take their app to other parts of the Asia-Pacific region.
THEIR FUTURE ECONOMY STORY
- To develop Treatsure, Preston surveyed many members of the public and merchants in person to understand what they needed and how they shopped.
- Beyond offering a way for consumers to pick up excess food, Treatsure came up with a novel ‘buffet-in-a-box’ concept that would give hotel buffets a new way to attract customers.
- By providing food companies with a platform they can use to reach new customers, Treatsure enables them to expand operations in an efficient, simple way.
- Treatsure is in the process of developing technology to better study consumer and producer behaviour, and hopes to be able to help companies optimise their food production.
- Treatsure has received requests to collaborate overseas, and seeks to expand into other parts of the Asia-Pacific region when it acquires the resources and opportunities to do so.
GETTING AHEAD WITH GRANTS & SCHEMES:
- The SME Talent Programme (STP) enabled Treatsure to defray the cost of hiring in its initial stages, and let them tap on a stream of tertiary institution talents for sales, marketing and product development.