alternative proteins – Eatable Adventures

The investment in the Foodtech sector in Spain grows by over 9% in 2022

The conclusions of the third report on the Foodtech sector in Spain were presented at the ICEX Auditorium. In the framework of this event, some of the main players of the ecosystem have discussed the challenges and the internationalization strategy for this sector. The food technology sector is an essential link in the Spanish food industry.

An intense transformation of food is taking place as a result of the impact of new technologies and the foodtech ecosystem is set to play an essential role in this process in the coming years.

Thus, in a context of global contraction, investment in the foodtech sector in Spain in 2022 has increased by 9.38%, reaching 268 million euros, discounting the Glovo effect, as revealed in the report “Addressing new challenges across the food value chain” promoted by ICEX Spain Export and Investment.

But not only has it been able to attract major investment operations with national and international players, but there has also been a significant increase in the number of operators in the ecosystem: 412 startups, compared to 407 last year, more than 30,000 companies involved in food transformation, as well as more than 50 specialized universities and 20 cutting-edge technology centers involved.

These are just some of the conclusions drawn from the report on the Spanish Foodtech sector in 2022 presented, an essential link in the Spanish food industry.

This third report also points out that, in order to consolidate in the ecosystem, it is essential to have a high technological capacity and strength, which translates into patents, trade secrets and trademarks. Thus, 32.9% of the 412 Spanish startups have a patent for their technology and 29% have a trade secret, which indicates the robustness of Spanish companies in the sector.

Moreover, during 2022, the percentage of startups that have developed their own technology has further increased. In this area, there is a spectacular growth in the use of technologies, mainly startups that use artificial intelligence (AI), rising from 28.21% to 40.79%, gaining 12 points over the previous year.

It is worth highlighting the sector’s contribution in terms of circular economy, providing those technologies that allow the re-valorization of by-products, thus reducing waste and creating new uses ranging from packaging to ingredients.

ICEX CEO, María Peña, opened the event to present the report, highlighting that it is “a fundamental sector for attracting capital and investment in startups”. She stressed that “it has become a key of high added value in any strategy in favor of knowledge and expansion of our ecosystem of innovative and technological entrepreneurs” and also noted “the sector’s commitment to sustainability and making this attribute its flag”.

Likewise, María Peña emphasized that “there is no promotional strategy that is not based on knowledge”, and in this sense, “this report, within the framework of our alliance with Eatable Adventures, is undoubtedly a fundamental element of that knowledge”.

In closing his speech, Peña wanted to put on record that “if Spain will continue to be a Spain Food Nation, it will be so because it is also a Spain Foodtech Nation”.

To download the report, click here

31/01/2023/by Eatable Adventures

Events, Foodtech, Partnership, Webinar

ICEX Webinar – How is the Alternative Protein sector being disrupted in Spain?

Webinar by ICEX Spain Trade & Investment, with the global network of Economic & Commercial Offices of Spain

The innovative and accelerated era we are living in has challenged the food industry to evolve the way it has been operating up until now. Consumers’ interest in alternative protein is increasing globally. In order to take advantage of this opportunity, food industry players must understand the evolving market dynamics and place their bets on innovation.

Spain’s alternative protein industry has grown exponentially in the last few years, demonstrating both the potential of this new market and the challenges that need to be faced by this industry in the upcoming years. As of today, Spain has one of the most prolific ecosystems for foodtech entrepreneurship. The Spanish alternative protein companies saw investment figures rocket by 5,527% in 2021, raising 26 million euros, up from just 0,49 million euros in 2020.

New players in the ecosystem, including big companies, technology centers, and disruptive startups, have contributed to the growth of the plant-based market. Aside from plant-based solutions, fermentation, bioprinting, and cell cultivation technologies are capturing investors’ attention more and more, having a huge potential for innovation, and claiming a much larger share of investment than ever before.

ICEX Spain Trade & Investment, together with the global network of Economic & Commercial Offices of Spain, will host a webinar on June 30, 2022 featuring five Spanish startups and one of the leading technological centers that are disrupting the food industry by using the most innovative technologies to create the foods of the future, in the most sustainable way.

This initiative seeks to strengthen the network of the Spanish foodtech industry, to showcase its successes and interesting projects, and to enhance collaboration.

To make sure you don’t miss out on this opportunity, ICEX is offering you two time slots options that may suit your schedule.

Register for free in the 9AM CET slot here, and in the 6PM CET slot here.

Guest Speakers at the International Roundtable:

Maria Naranjo, Agrifood Industry Director, ICEX
Francisco Kukar, CSO, Innomy Biotech
Silvia Moreno, CTO, Mimic Foods
Javier Zaratiegui, CTO, Cocuus
Zoltan Toth-Zifra, CEO, Real Deal Milk
Mariano Oto, CEO, Nucaps
Estefanía Erro, Marketing & Innovation Director, CNTA

Looking forward to seeing you there!

22/06/2022/by Eatable Adventures

Ecosystem, Foodtech, Startups-article

Spanish startup Cocuus raises €2,5M in Funding to scale its 3D bioprinting technology for the production of alternative proteins

This round was led by Big Idea Ventures, Cargill Ventures, Eatable Adventures and Tech Transfer Agrifood.

The Spanish startup Cocuus has raised 2,5 million euros in its Pre Series A funding round for its innovative process for producing plant or cell- based animal protein food analogs. The company achieved this round after completing Eatable Adventures acceleration program, one of the top three globalaccelerators for foodtech startups.

The round was led by Big Idea Ventures, the global alternative protein fund, the U.S. multinational Cargill Ventures, the Spanish accelerator Eatable Adventures and Tech Transfer Agrifood. With a capital injection of this size, the startup can scale its business model and expand into other international markets, enabling them to utilize their disruptive 3D bioprinting and robotics technologies to create more sustainable and nutritious food products.

Patxi Larumbe, CEO and founder of Cocuus states “We are very proud to have attracted the interest of international investors with this round of financing. Thanks to this capital injection we will be able to bring our technology within reach of corporations that want to print proteins on an industrial scale”. In addition, the Founder and Managing General Partner of Big Idea Ventures, Andrew D Ive, also highlights “At Big Idea Ventures, we invest in technology which impacts the alternative protein industry’s entire value chain. Cocuus’ technology addresses a major pain point of structured plant- and cell-based meat production methods scalability. We are thrilled to support this innovative team and we look forward to
seeing their scalable food technology making an impact across the world.”

On the other hand, José Luis Cabañero, CEO and founder of Eatable Adventures notes, “The Spanish foodtech startups’ ecosystem is consolidating very quickly, attracting major investors and international corporations. Through Eatable Adventures, we offer our services to startups and corporations around the globe to accelerate the process of transformation and innovation in the food value chain”.

As Cabañero points out, this current environmental and world population scenario calls for a rethinking of production methods to achieve a much more sustainable and efficient food system. According to FAO data, in 2050, in order to feed a population of 9.1 billion, food production will have to increase by 70% and meat production by more than 200 million tons.

Cocuus, along with MOA Foodtech, Proppos, H2hydroponics, and Innomy have been selected as finalists for the first edition of Spain Foodtech, the acceleration program of Eatable Adventures supported by the National Center for Technology and Food Safety (CNTA) and ICEX Spain Export and Investment.

Cocuus has been awarded by the international Quality Innovation Award (QIA) in the category of Innovation in Microenterprises and Startups, after winning the 2021 national award.

08/06/2022/by Eatable Adventures

Tag Archive for: alternative proteins