FoodTech Innovation Challenge 2024
LET’S TEAM UP TO
CREATE THE NEXT
FOOD TECH COMPANY!
We are looking for researchers and innovators. YOUR solution could be the next breakthrough for sustainable FoodTech!
Submit your proposal by 15 October!
Launched & funded by
Supported by
Submissions due in:
Interested? Join our webinar on 10 September & 1 October for more info!
PROBLEM SUMMARY
The challenge
Current non-animal based food solutions that are sustainable and nutritious still lack taste, texture, and an accessible price point.
What’s not working?
Promising early-stage technology and solutions are not being driven by large Food & Beverage manufacturers as much, due to declining internal innovation efforts. This impacts the opportunities for academia to license out the early-stage technologies they developed, while it remains challenging for researchers without prior commercial experience to launch a spin-off.
What can we do?
Venture studios* bring a commercialization-driven approach to overcoming industry barriers, ensuring that innovative food tech solutions not only reach the market but do so with maximum impact.
At FOOD FOUNDERS Studio, we don’t just match new technologies with pressing industry challenges; we build entire startups around these solutions. Acting as co-founders, we provide the expertise & resources necessary to bring a technology through key growth milestones and ultimately to the successful launch of a new venture.
Your technology solution could be the catalyst we need. Let’s work together to disrupt the food industry!
THE OPPORTUNITY
FOOD FOUNDERS Studio, with the support of Good Food Institute, is kicking off an Innovation Challenge to partner with you in transforming your solution to become next food-tech breakthrough!
Who can participate?
We are looking for individuals or groups that have developed a new technology with the potential to disrupt the food industry! We welcome submissions from researchers and innovators, including professors, senior scientists, postdocs and PHD students, whole research labs or groups - anyone is welcome!
In what field disciplines can solutions come from?
We are looking not just at the food science department, but also across other disciplines such as mechanical engineering, material sciences, biology, information science, etc. that can be applied to problems of the food industry. In particular, we are interested in solutions making food more sustainable, nutritious, with better texture and taste, and at more accessible price points.
Simply share your proposal (no confidential information needed*) and let us do the work to assess** the business potential.
*We will be evaluating the impact of the solution can have rather than how it works.
**Assessment will focus on: Problem Criticality, Solution effectiveness in solving Problem, Market Desirability, Financial Viability, Technical Feasibility, Degree of innovation, TRL.
BE PART OF THE VENTURE BUILDING
Earn Financial Rewards*
For any selected solutions, the submitting party will receive the below financial rewards:
Salary compensation for agreed part-time engagement
Equity shares if the venture is launched, with potential significant pay-outs**
*To be agreed with your university employer according to their policies & guidelines
** If your technology is selected for a venture launch
Option to be an Entrepreneur
FOOD FOUNDERS Studio assumes the responsibility and risk for launching the start-up, allowing you to optionally join the startup based on your interest, gaining valuable experience and benefits:
Technology Advisory & Consulting: Explore long-term collaborations before and after launch
Industry Connections: Increase visibility and connection with experts, investors, and collaborators at the intersection of research and industry
De-risked Entrepreneurship: Unique opportunity to learn how to launch your own start-up without the risk of failure
PROCESS FOR PARTICIPATION
Proposal Submission
1
Fill out and submit the Innovation Challenge Form
Submission deadline: 15 October
Early Stage Assessment
2
We, together with a Board of Industry Experts, evaluate your proposal on:
Criticality of the problem
Effectiveness & readiness of the technical solution
In case of not being selected, we will provide you with feedback.
In case of being selected, FOOD FOUNDERS Studio will kick off a 3-month business case evaluation.
Business Case Evaluation
3
We, together with You, find provisional alignment on licensing terms with University Tech Transfer Team or equivalent.
We perform a robust evaluation of the venture opportunity across DVF: Market Desirability, Financial Viability, Technical Feasibility.
You remain actively involved in the process according to availability and university policies, to keep driving the technical development.
Venture Building & Launch
4
Only 1x case per year will reach this point, and be granted up to € 1M of capital & in-kind resources
We hire an experienced leadership team, to whom we act as the first co-founders. If you so desire, You could be joining here as CTO!
Upon achieving our investment criteria, we fundraise with our selected investment partners to launch the venture with the first investment. If you so desire, You could be joining here with a Senior technical role!
Join our Innovation Challenge webinar with Q&A on 10 September & 1 October to learn more!
Do you have any questions about the process or about how to submit? Please ask us!
ABOUT US
FOOD FOUNDERS Studio is a Switzerland-based venture studio* building B2B food tech ventures from untapped European academic research. We are focusing on solutions across the value chain (not only limited to plant-based protein).
Our team collectively raised €50M in food tech ventures we built. Now, we leverage our track record, network and method to do it again.
Find more information about FOOD FOUNDERS Studio and our mission here!
*Venture studios are teams that bring together under one roof the roles of entrepreneur, start-up operator, and investor, and are fully engaged in creating and launching startups. Incubators and accelerators support instead large cohorts of existing startups with a lighter engagement