How FoodTech Is Changing The World

A little while ago, I fell in love with a new industry called FoodTech, short for food technology. Though the name may be unfamiliar to most, some day — perhaps soon — it will be as common as 'biotech' is now.

I truly believe #foodtech is the future of food (as do Bill Gates and Richard Branson, but what do they know.) Startups around the world have already created:

• 3D printed steaks (Aleph Farms in Israel and Nova Meat in Spain for example) and #sushi (Sushi Singularity in Japan, demo at SXSW)
• Real milk, without the cow (Perfect Day based in Silicon Valley, New Culture from New Zealand)
• Bioengineered foie-gras (Integriculture in Japan and Supreme in France)
• Protein grown in car exhaust (DeepBranch Bio in UK/NL and Solar Foods in Finland)

...and that’s just the beginning.

From early 2018, when I first discovered this industry thanks to The Good Food Institute...

... to early 2019, there has been an explosion of new discoveries, #startups, #vc funds, #investing, #innovation, scientific collaborations, etc.*

Of course, many of the new entries in this landscape are established players branching out because they’ve recognized a growth opportunity; but the sheer number of brand-new entities is overwhelming.

And for every startup looking for funding, there’s 2-3 funders wanting to invest. I now tell aspiring entrepreneurs: forget social media, alternative protein is where it’s at.

The generational divide

When asked “but will people ever accept lab-grown, test-tube, fake meat?” My answer is:

When did you last hear someone use the phrase ‘a test-tube baby?’

These days, IVF (in-vitro fertilization) is so commonplace that no-one would think of calling people born this way 'lab-grown, test-tube, fake humans.’

But the greatest divide seems generational to me. Millennials-and-younger seem quite comfortable with the idea of meat grown in a lab (after all, many of them were started this way.)

This is part of the reason why Big Food is so keen on this space — see the dizzying rate of #investment in alt-protein companies.

In fact, Tyson Foods was until recently one of the largest funders of bioengineered meat startup Memphis Meats, and are now bringing out their own line of plant-based meat. Cargill sold off the last of their feedlots two years ago, and like many other big meat companies now call themselves ‘protein’ companies.

With regards to the dairy industry, considering that the plant-based (PB) #dairy market is steadily growing, while sales of fluid #milk have fallen by 40% since the ‘70s and in fact recently hit a 75 year low, perhaps more dairy producers will consider following Elmhurst Dairy’s lead and move into the plant-based dairy space. If you can’t beat’ em...

Meat & Dairy : The Kodak Moment

Many observers believe this is the dairy & meat industries’ “Kodak moment.” Did you know digital photography was actually created inside Kodak, by a Kodak employee?

But Kodak’s business model was similar to that of razor companies: make money selling the film, not the camera. To them, digital photography was an existential challenge.

Instead of recognizing this challenge, adapting to it or even embracing it, the company refused to change with the times, and so the times changed without it. Kodak filed for bankruptcy in 2012.

I believe there will always be a niche market for high-end or specialized animal products, just as there is a market for top-quality film for both amateur and pro photographers.

But most of us are quite content with digital. It’s cheaper, easier, and probably better for the environment too. The same may soon be said of #plantbased protein (the precise impact of bioengineered protein on the #environment can’t yet be predicted.)

The day when alternative protein foods become cheaper than their traditional counterparts is inevitable. The day they match taste and texture too, it’s game over.

As we say in Silicon Valley, every time technology challenges an established industry, tech wins.

#China is, right now, experiencing a virulent African Swine Flu (#asf) epidemic which has already killed over a million pigs, and isn’t showing any signs of slowing down. The Chinese government has already expressed its desire to reduce meat consumption by 50% in 2050.

Whether or not this goal is achievable, imagine what would happen if they decided to focus on making 3D printers affordable. Is there any country in the world that is better at bringing down manufacturing costs?

China could become world leader in 3D food manufacturing, hastening the day when the food printer is as commonplace as the microwave.

As you can see, it’s an incredibly exciting industry. In fact, with so many breakthroughs happening at breakneck speed, I'm amazed that anyone in this industry is getting any sleep at all.

And therein lies the problem. There are just too many exciting projects. The single-cell #protein incubator. The events. The ‘360 #sustainability’ and ‘true transparency’ certifications. Turning the industry landscapes into a live website. And so much more.

In the months leading up to the Alternative Protein Show, I worked progressively longer hours until by the end, I was only sleeping 1 out of every 2-3 nights (the show was still a great success thanks to our fabulous team )

So now what? First, I will be stepping back from most of my pro bono work. This means I will let several of you down, for which I profusely apologise. Most importantly, I am handing over all logistics for our upcoming events to far more capable people :

• The Alternative Protein Summit in #Amsterdam, August 26-28: Ira Van Eelen and Benoit Salmon
• The Alternative Protein & Dairy Show in San Francisco, January 21-22: APS SF Team
• The Alternative Protein & Dairy Show in #Singapore, spring 2020: Sandhya Sriram

Trust me, you’re better off for the change. And I will of course still be involved with content, speakers and format.

I’ll also continue to publish the industry landscapes, focusing especially on the new #algae and #fungi industry landscapes—too few people realize the infinite possibilities of both media.

Fungi in particular are a billion-species kingdom, the infinite applications of which we have barely scratched the surface.

As always, you are welcome to use any of the landscapes in any presentation or publication, no need to ask me. Really. Just maintain attribution and you’re all set. If you need a different format, email o(at)askolivia.com.

In the meantime, I’ll be focusing on my ‘real’ work—I'm an author, keynote speaker, and consultant—writing my next book (The Genius Myth: How Anyone Can Access Their Inner Einstein) and spending time with our weird and wonderful family on our mini-urban farm near San Francisco: a rescue dog named Kittykat, a rescue cat named Phil who thinks he’s a dog, 12 chickens and at least 10,000 bees. Oh, and I'm pretty sure there’s a husband in there somewhere!

With very best wishes

Olivia

* For the #altprotein #foodtech landscape, we’re at V.2.6 finished, V.2.7 draft. Anything below 2.5 is wildly out of date & only a historical reference to the distant past, aka two months ago.