mylkcubator Archives - Eatable Adventures

Spain Foodtech Partners: Pascual

15/12/2022/in Open Innovation, Partnership/by Eatable Adventures

Founded in 1969, Pascual, a leader in the food sector, has a range of more than 200 products, 6 factories, 27 local offices and more than 2,000 employees in the 63 countries in which it operates.
Pascual advocates from the outset the creation of the Corporate Venturing branch of the company: Pascual Innoventures.

In 2020, Pascual and Eatable Adventures launch a collaborative challenge dedicated to international startups active in the production of solutions for the plant-based dairy sector.

MYLKCUBATOR

Incubation Program

Mylkcubator, the world’s first incubator specialized in the development of innovation projects for the dairy sector, was launched in May 2021. Since then, it has achieved incredible success, positioning Pascual globally as an innovative and cutting-edge company.

4 early stage startups from different continents are chosen, the main Venture Capital of the sector join to have access to Mylkcubator’s dealflow. In 2022, the second edition has been launched.

“The quality of the startups selected in the first edition has been amazing and shows us that this is clearly the way forward. The visibility of these projects, as well as the investment projects they are receiving is a sign that the industry is ready for this technological transition.”

Gabriel Pascual, director of Pascual Innoventures

Precision Fermentation & Cell Agriculture Disrupting the Dairy Industry

15/07/2022/in Alt-proteins, Foodtech, Open Innovation/by Eatable Adventures

In the dairy industry, cell cultures and fermentation techniques are beginning to demonstrate industrial and commercial viability, as shown by the growth of investment in this sector and the emergence of new startups using these technologies as their foundation. Proof of this is that investment in the dairy segment has tripled in 2021, compared with 2020, according to Dealroom data analyzed by Eatable Adventures. Also, according to data from The Good Food Institute, fermentation companies have raised $1.7 billion, which accounts for one-third of all investments in alternative proteins.

Research, innovation, and technology make it possible to develop new production and food transformation models that allow us to improve existing products and create new ones. By remaking the same proteins and fats from dairy, but without animals, formulators are trying to create dairy alternatives that closely resemble traditional dairy products, thanks to disruptive technologies like cell agriculture and fermentation.

The following extract from the FoodTech Market Intelligence Report – Alternative Dairy by Eatable Adventures highlighting the technologies and startups debuting in the Dairy Industry demonstrated that precision fermentation continues to gain momentum among new startups in the sector.

Source: Dealroom data analyzed by Eatable Adventures

From Eatable Adventures data, we find that in 2021 the alternative dairy fermentation startup, Perfect Day, debuted the fermentation investment profile after receiving $350M in funding, followed by Remilk at the beginning of 2022, receiving $120M.

Additionally, according to more Eatable Adventures data, we can state that precision fermentation technology is highly mature at the moment in terms of investments, meaning that the fascinating technology that cell culture is, is still ripe for innovation and is estimated to grow exponentially in the upcoming years.

Cell agriculture and fermentation in the dairy industry

Source: Dealroom data analyzed by Eatable Adventures

Precision fermentation is not only very mature in terms of investment, but also in terms of technology development. Foods containing ingredients made with this technology have been around for decades, and we are eating them on a daily basis. A recent article by Sonalie Figueiras from Green Queen features different precision fermentation foods and products we have been consuming, including enzymes used in food production (e.j pectinases which help make fruit juices clear), vitamins we take in supplement form or powder, natural flavors added to certain foods (e.j vanilla flavoring), and even cheese (rennet, a key ingredient in cheese production, is produced via precision fermentation).

On the other hand, cell-cultured technology is a promising technology for animal-based proteins but still needs further development and acceptance.
By using this method, meat is produced with the same types of cells arranged in the same structure as animal tissues, delivering identical sensory and nutritional properties as conventional meat. Nevertheless, there are still many obstacles for cellular agriculture to overcome such as regulatory aspects, consumer perception, and socio-political challenges, but that doesn’t negate the fact that is a rising trend that entrepreneurs and investors, and companies should follow.

Accelerating the market through Open Innovation Programs

In this food revolution, open innovation programs and synergies between big companies and startups are of major importance to accelerate growth and assist new startups to reach their objectives. For instance, Mylkcubator, the global incubation program led by Pascual Innoventures, and Eatable Adventures, recently launched its second edition and are currently seeking projects with innovative solutions in the cellular agriculture spectrum for the dairy industry.

If you have THE idea or project regarding disruptive innovation in the dairy industry using cell agriculture technology, visit the official website mylkcubator.com and get to know all the details about the program.

For further details regarding Mylkcubator, click here.

Mylkcubator, the global incubation program for cellular agriculture technologies in the dairy industry, kicks off its second cohort

22/06/2022/in Ecosystem, Foodtech, Open Innovation/by Eatable Adventures

The incubator will help the selected startups in their business and R&D advancement strategies, preparing them for growth and investment rounds.

Pascual, a leading Spanish manufacturer of dairy products and beverages, has launched Mylkcubator 2.0, the second edition of the global incubation program for cellular agriculture technologies in the dairy industry. The initiative has been launched from the group’s Corporate Venture unit, Pascual Innoventures, in collaboration with Eatable Adventures, one of the top three global foodtech accelerators. The first edition of the program had recently been completed by four disruptive startups worldwide.

Mylkcubator 2.0 will last 6 months, from selection to the demo day. The goal is to enroll a new cohort of up to 5 startups or scientific projects, with innovative solutions in the cellular agriculture spectrum for the dairy industry within the following technologies: molecular farming, fermentation based, cell based, and applied technologies in this field. All the details about the program are available on the official website mylkcubator.com.

Pascual Innoventures has flexible venturing models that build, collaborate and support Foodtech startups in its early stages. The incubator will help the selected startups in their business and R&D advancement strategies, preparing them for growth and investment rounds.

In the words of Gabriel Pascual, director of Pascual Innoventures “The quality of the startups selected in the first edition has been amazing and shows us that this is, clearly, the way to go. The visibility of these projects as well as the investment rounds that they are receiving is a sign that the industry is prepared for this technological transition. Pascual has been a pioneer in shaping the path of innovation and non-conformism. An attitude that has been hatched generation after generation from my grandfather until our generation”.

On the other hand, José Luis Cabañero, CEO and founder of Eatable Adventures, has remarked “Mylkcubator has attracted the attention of companies, technology centers and professional investors from all over the world demonstrating that there is a great opportunity in the market to implement scalable technological solutions to future proof the dairy industry”. Proof of this is that investment in the dairy segment has tripled in 2021, compared with 2020, according to Dealroom data analyzed by Eatable Adventures.

The production of dairy products using cell cultures and fermentation techniques, that are complementary within the dairy industry, demonstrate industrial and commercial viability and presents a huge opportunity for the sector from both an economic and environmental point of view.

Mylkcubator website: mylkcubator.com

Foodtech Opportunities in The Spanish Market

28/02/2022/in Ecosystem, Partnership/by Eatable Adventures

The foodtech sector is an emerging and dynamic sector dedicated to improving the entire food industry value chain sustainably. This intersection between nutrition and technology is changing the traditional food and beverage sector, prompting existing players to rethink many of their insights into manufacturing processes, consumers, and the market in general.

In recent years, Israel has positioned itself as one of the world’s FoodTech leaders, and it has succeeded. In just 70 years, it has managed to turn its threats into opportunities and become a world reference in innovation, responsible for some of the most disruptive and revolutionary technologies in multiple areas.

Investing in Spain’s FoodTech Sector

In our country, investment in the foodtech sector has tripled in one year after national startups have raised 695 million euros in 2021, which is 220% more than the previous year, according to data from ICEX’s recent report. Thus, the Spanish ecosystem is the fifth foodtech ecosystem with the highest investment in Europe after Germany, the United Kingdom, France, and the Netherlands, offering numerous opportunities for innovation, some of which make this country a global benchmark.

Imagine how powerful these two ecosystems would be if they were connected? That’s exactly what happened during the webinar on February 22. The Foreign Trade Administration of the Ministry of Economy of the State of Israel engaged Eatable Adventures and leading Spanish corporations, such as Europastry and Pascual, to be part of the conversation and share best practices in open innovation.

Although we still have many challenges ahead of us, all levels of government, associations, clusters, and large food companies are working simultaneously to address them. We live in the era of collaboration, in which people, startups, investors, and administrations, are allied to build a better future; and of course corporations in the agri-food sector cannot miss this joint work.

Open Innovation Programs: Mylkcubator & Baking the Future

Startups in this sector are undoubtedly an engine of innovation that can bring a lot to the industry. In order to benefit from this, we need to create open innovation programs that identify the best startups to partner with, lay the groundwork for this collaboration, and channel joint efforts that benefit both parties.

Companies of all sizes and nationalities are implementing programs along these lines every day. Important Spanish food companies have developed their open innovation programs, accelerators, and investment arms, such as Pascual’s Mylkcubator and Europastry’s Baking the Future. With these programs, companies can discover new business models, explore new channels with their consumers, reinforce the sustainability of their operations, diversify in categories or geographically and, above all, increase the efficiency of their business.

There are many ways in which companies in the sector work on open innovation, and it will depend a lot on the culture of the company, the position it is in, and the structure it has. In this regard, it is always helpful to have an ally who can advise the company on how to move forward, identify startups to work with, and lay the groundwork for collaboration with them, such as us, Eatable Adventures.

If you want to know more about the Spanish foodtech sector, visit our recent article.

Mylkcubator kicks off its first edition with four startups to shape the future of dairy

27/10/2021/in Foodtech, Startups-article/by Eatable Adventures

Mylkcubator, the first global incubator specialized in the advancement of innovation projects for the dairy sector, launches its first edition with four amazing startups selected from across the world. Thanks to this incubation program, launched by Pascual Innoventures in collaboration with Eatable Adventures, these promising startups are set to lay the foundations for a new path of development and innovation for the dairy industry and respond to the big challenges it faces.

Mylkcubator is not only the world’s first incubator specialized in the dairy sector, but also establishes itself as an international reference with its four chosen startups coming from different continents. These startups were carefully selected for their projects and technological developments to obtain the dairy products of the future.

According to Sejal Ravji, director of Pascual Innoventures, “Mylkcubator launches its first edition with the aim of marking a dramatic before and after in food innovation. I think we are facing global challenges that can only be resolved thanks to bold bets like this; it’s a starting point for the development of the dairy products of the future. It’s a very ambitious project at many levels, including technological, but we’re partnering with leading experts, companies, and investors from all over the world who share our vision to make it happen”.

Thus, Pascual, through Pascual Innoventures continues to promote innovation, anticipate trends and create a more sustainable food system future for all. The Mylkcubator program is another testament to their commitment to this end.

The selected startups:

Real Deal Milk (Spain) develops milk proteins through precision fermentation in order to make dairy products that are produced without animals but are nutritionally and gastronomically equivalent to traditional dairy products.
Zero Cow Factory (India) producing India’s first milk & dairy products (certainly a world’s first in A2 milk protein) using microbial bioengineering & precision fermentation.
De Novo Dairy (South Africa) uses precision fermentation technology to produce animal-free dairy proteins that provide the same sensory experience and nutrition as their traditional dairy counterparts.
M2Factors (USA) 108Labs’ subsidiary M2Factors, Inc is accelerating the state of the art in cell-cultured dairy by crashing the cost of production.

The launch of Mylkcubator has attracted the attention of companies, technology centers and professional investors from all over the world.

Renowned research hubs have already expressed their willingness to collaborate with some of the selected startups in the development of their research. In fact, these partnerships will allow the teams to work in some of the most cutting-edge facilities of these research centers, ‘professionalizing’ and boosting the development process of the projects.

In addition, leading funds investing in startups working on technologies for developing protein alternatives in the agri-food sector, such as Blue Horizon, Lever VC, Unovis or Ninepointfive, a venture capital fund specialised in leveraging corporate acceleration, will also monitor Mylkcubator’s technological developments to advise these startups and look for future collaboration opportunities to maximize the potential of their projects.

The incubation program will commence with the first sessions to determine the state of development of each project both at a business and technological level with guidance from Pascual Innoventures, Eatable Adventures and the investors and partners involved. In addition, the feasibility of the innovations and the possible development of pilot projects for future business opportunities in the dairy sector will be studied.