Startup Innovation Challenge 2021: Recognising disruptive ideas in F&B innovation6 Dec 2021
The Fi Global Startup Innovation Challenge aims to support innovative projects within the F&B industry by offering startups the opportunity to showcase their innovations and meet the industry's foremost ingredients professionals.
Since 2016, the Fi Global Startup Innovation Challenge have been connecting startups with investors, venture funds, and the F&B industry. Startups receive valuable feedback about their business model, products, technologies and services, and can win valuable prizes.
With the 6th edition of the Startup Innovation Challenge, three companies received a coveted award recognising their potential.
The Most Innovative Plant-Based or Alternative Ingredient award went to Sophie’s BioNutrients, for developing a new and sustainable plant-based protein from microalgae. The startup is making their product relevant by shifting the focus towards application, tending to talk more about the functionality of their protein rather than nutrition.
“Receiving this award means a lot! First of all, it is confirmation that we are on the right track. Secondly, it helps us to spread our message to more people. We want to show them that this is the future – and this award does just that,” said co-founder and CEO, Eugene Wang.
The Most Innovative F&B Ingredient or Processing Technology award was awarded to NoPalm Ingredients for trying to replace palm oil as ingredient with their sustainable microbial oil solution. The microbial extraction can serve as either a pure or fractional replacement, is non-GMO and vegan-friendly.
“We are the only company using side streams for palm oil alternatives and, as such, reducing our customers’ carbon emissions. The award is great recognition that we are on the right path and that there is a bright future to come, and we are therefore very humbled to have won against such great competitors,” said co-founder and CEO, Lars Langhout.
The Most Innovative Service or Technology Supporting F&B award went to Allozymes for applying its proprietary platform technology to rapidly develop novel enzymes, revolutionising the way industry can produce complex natural products. Allozymes believes that biotechnology is a necessity for sustainable manufacturing in all sectors and through their technology, they are enabling F&B industry’s adoption thereof.
“We shorten the development of biotech products by 10x and provide 200x higher chance of success at a fraction of cost. Being recognized as the most innovative technology supporting F&B as a first winner in Food ingredients Global proves that we are achieving our mission,” said co-founder and CEO, Peyman Salehian.
The Fi Global Startup Innovation Challenge Awards Ceremony was held live at the Innovation Hub at Fi Europe 2021, co-located with Hi Europe, on 1 December 2021, and was also streamed to Fi Europe Online.
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