2023-09-25 12:54:12
Investment in Spain in the foodtech sector reached the figure of 268 million euros in 2022, marking a growth of 9.3% compared to the previous year, according to data provided by the Eatable Adventures study “The State of Foodtech” This sustained growth has been driven by key initiatives such as Spain Foodtech Startups’ Program, a “Country” program led by Eatable Adventures, in collaboration with ICEX Spain Exportation and Investments and CNTA (National Center for Food Technology and Safety). Its mission is support the construction and development of solid Spanish startups in the field of foodtech, capable of competing on a global scale and becoming a benchmark in the sector, positioning Spain as a technological leader in this field. The program also stands out for its investment commitment of 10 million euros in the next 3 years.
Spain Foodtech has the support of leading companies in the food industry, such as Alianza Team, Mahou San Miguel, Pascual Innoventures and Sigma. These companies have joined this initiative to contribute their experience in open innovation, with the purpose of accelerating the implementation of disruptive innovation models and providing knowledge on key aspects related to industrial processes in the agri-food sector, the challenges of the industry and the Business necessities. This approach seeks to promote the scaling and expansion of startups, establishing synergies to generate high-impact solutions in the agri-food value chain.
During the program call, more than 120 applications were received from all over Spain and after a rigorous evaluation process, four leading startups were selected:
● Bio2coat: Food waste is one of the food industry’s biggest challenges, along with the reduction of single-use plastic packaging. Bio2coat promotes an innovative solution that addresses both challenges thanks to its 100% natural coatings that increase the shelf life of foods, such as fruit and vegetables, allowing them to be consumed fresh for longer periods of time.
● Neboda: the agriculture of the future will be more efficient and sustainable, guaranteeing the quality of crops for future generations. This startup has developed a revolutionary automation technology that, applied to the vertical farming technique, allows the development of a high-density, low-cost cultivation system. This system includes the use of an automated robot whose technology allows optimizing production times, maintaining high quality standards and avoiding possible contamination.
● Mmmico: in the traditional food industry, most food colorings are of synthetic origin, posing a possible risk to the health of people and the planet. This startup has adopted a highly scientific approach that combines techniques such as fermentation, directed evolution and artificial intelligence, to develop new natural ingredients that replace their synthetic analogues in record time and cost.
● Poseidone: The oceans are tremendously affected by the depletion of marine resources, pollution and the impact of climate change. This startup, led by a team of women, has managed to transform waste from algae production into innovative ingredients and proteins, revolutionizing the current production system and generating a positive impact on the marine ecosystem. The selected companies have stood out for their ability to efficiently address critical challenges for the sector, offering innovative and sustainable solutions throughout the entire food value chain.
Once the acceleration program is over, startups will have the opportunity to present their projects to national and international investors during the Demo Day. “Spain Foodtech has proven to be a springboard for the startups that participate. An example of this is the international success achieved by its Alumni such as Cocuus or Moa Foodtech,” said Mila Valcárcel, Managing Partner of Eatable Adventures. “Our deep experience in the agri-food value chain, supported by a unique methodology, access to the global ecosystem and the support of prestigious corporate partners, allows us to position Spanish Agrifoodtech startups on the global stage. Spain Foodtech has become a reference program worldwide and Its success has allowed us to export this model to other international markets. Proof of this are our national acceleration programs for Colombia and Italy, where we collaborate hand in hand with national and local institutions to give a boost to the development of their business ecosystems in this area”.
“The Spain Foodtech program, created by Eatable Adventures, has a multiplier impact throughout the food chain and is fully aligned with the international positioning objectives of our industry promoted by ICEX. Its transformative capacity and the rigorous selection and support process that this project offers to startups are, without a doubt, the best guarantee to consolidate them and turn our foodtech ecosystem into an engine of growth and innovation,” considers María Naranjo, Director of the Food Industry of this organization. “At CNTA, we are proud to be the technological partner of this program, collaborating closely with startups to promote the development of high-level technological solutions. Our commitment is to provide these companies with the tools and knowledge necessary to achieve their innovation goals and quality in the agri-food industry, thus promoting the success of their projects”, commented Estefanía Erro, Director of Marketing and Innovation at CNTA. Marketing and Innovation at CNTA.
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