Almost two months after the official launch at Seeds&Chips, corporate and innovation partners reunited to present the FoodTech Accelerator to the startup community in Bologna at an event organized by Amadori, one of the largest food companies in Italy. Held at FICO, the incredible space launched by Eataly in 2017, partners had the opportunity to discuss the objectives and expectations for the FoodTech Accelerator accelerator both as a catalyst for food innovation at international level as well as for the Italian ecosystem.
Lorenzo Viscanti, founder of Mapendo, moderated the panel and his personal experience as a startup founder allowed him to guide the discussions with with thoughtful questions and pointed comments. He helped to elucidate the core elements of FoodTech Accelerator: an initiative from and for the whole ecosystem that brings together industrial, financial and service players from around the world to create real value for everyone involved.
Stefano Molino, partner at Innogest Venture Capital, also made an important point: the food market is massive, continually growing and faced with unprecedented challenges. In his opinion, this is a blessing rather than an obstacle, as the opportunity for food Innovation is there for the taking. Because the food system as it is currently designed is not sustainable, investment in food is one of the most promising opportunities for development. Indeed, the global food market generates over 8 trillion USD in revenue, four times the e-commerce market at 2 trillion USD and considerably more than the software market at 400 billion USD. It’s therefore no surprise that food tech companies have seen 6.7 billion USD in investment in the last 4 years. Even corporations are starting to get in on the action: in 2016 more than 400 million USD was invested in Corporate Venture Capital activities by multinationals in the food sector. The time for food tech is now.
Amadori’s Gianluca Giovannetti and Cereal Docks’ Giacomo Fanin highlighted how crucial open innovation is both to their respective processes and to the food ecosystem in general. FoodTech Accelerator is poised to be a platform that enables and scales real innovative projects by uniting made in Italy know how with the most disruptive innovation from around the world.
With so many exciting dynamics at play, we can’t wait to see what happens next!
Written by Seeds&Chips