Swedish-based Mycora is set to collaborate with Arla Foods after receiving an award for its fungi-based alternative protein at the European Food Venture Forum in Aarhus, Denmark. The start-up uses fungi to produce and develop alternative proteins, which is an area seeing increasing levels of activity as the plant-based boom continues. Additionally, out of 33 contestants, nine entrepreneurs in the food and foodtech industries won the main prize, highlighting how start-ups are continuing to drive innovation across the food and beverage industry.
“It is always a pleasure to get a pat on the shoulder like that, and especially when it is from such a large operator like Arla, which may lead to a push in the right direction for a start-up like ours. Apart from the acknowledgment, we also have gained a lot of great contacts to take home with us, as well as inspiration for further work,” says Ramkumar Nair, Founder and CEO of Mycorena.
For the eighth time, Danish and foreign entrepreneurs, food producers, well-established companies, and investors gathered in Aarhus to find the best business ideas within food and foodtech. Contestants came from around the world to not only network with international investors, but also to present their unique business ideas and their need for capital on a professional platform.
Prior to the competition, contestants underwent an arduous coaching session with experts, mentors, and representatives from the food industry. They issued guidance and asked critical questions to ensure that the entrepreneurs were well-prepared to stand in front of the investors. The eight winners are now qualified for the final round at the Tech Tour Contest Final on December 9-10 in Essen, Germany.
There has been considerable activity and innovation from new plant-based meat brands targeting opportunities for good-tasting, nutritious and sustainable options among vegetarians, vegans, meat reducers and flexitarians.
A 2018 Innova Market Insights consumer survey found that one in five US consumers “have eaten less meat across the past year.” The broadening interest in plant-based diets has also resulted in meat alternatives moving beyond their original vegetarian and vegan domain. Their positioning encompasses a much broader base of flexitarians, as NPD focuses on improving quality to replicate real meat. Meat substitutes accounted for 14 percent of global meat launches in the first nine months of 2018, up from six percent in 2013.
Research in plant-based proteins is gaining momentum in the foodtech industry. Last month, US start-up Sustainable Bioproducts (SBP) unveiled pioneering plans to revolutionize the alternative protein market with its breakthrough biotechnology. Backed by investment from the likes of Archer Daniels Midland (ADM) and Danone, SBP is developing a new way to grow edible protein, emerging out of fundamental research into extremophile organisms that live in Yellowstone National Park’s volcanic springs.
Arla is also reaching out into various branches of the foodtech industry to improve its productivity and invest in new innovations. In July, the company introduced Herdvision’s 3D imagery systems to identify changes in physical wellbeing, mobility and weight in cows. The use of visual monitoring, data recording and artificial intelligence (AI) to assist in managing cow welfare is expected to remove human subjectivity.
Arla uses another AI tool to better predict its milk intake from farms. According to the company, 200 million kilos of milk can now be utilized more efficiently each year, elevating value chain sustainability.
