The future of start-ups: Frutarom opens Israeli lab
27 Apr 2018 --- Frutarom is opening FoodNxt, an innovation lab for food-tech start-ups, in the north of Israel. The company is inviting Israeli food-tech and ingredient companies to collaborate and develop all-natural ingredient solutions for the global food and beverage industry. More than 80 food-tech start-ups are based in Israel, with a rapid double-digit growth rate expected by 2020.
Startups chosen for FoodNxt will receive financing at a participation rate of 85 percent and the FoodNxt innovation lab will provide its startups with a variety of technologies, advanced equipment, and a professional team that will support ventures throughout the program,” she explains.
The close collaboration of FoodNxt with of each innovative company that participates will include the preparation of a business plan and feasibility study.
Frutarom as a leading player in healthy food products, through FoodNxt incubator, will connect Israeli entrepreneurs and innovators to international markets for healthy foods and raw materials. The innovation lab launched recently by the Israel Innovation Authority encourages and helps globally established and respected corporations such as Frutarom to provide start-ups with the knowledge and resources to grow and develop their businesses with the right global market orientation.
FoodNxt is based in northern Israel, which is a perfect hub for innovation and entrepreneurship, specifically in the field of Foodtech, according to Artzi. “In the last couple of years there is a true attempt to consolidate the Israeli Foodtech community so that the speed and quality of technological innovation in this industry can improve significantly,” she adds.
“Frutarom wants the FoodNxt incubator to reinforce and grow Israel so that our national companies in this sector can be world leaders and bring meaningful innovation to businesses and consumers around the world. The incubator provides a home for entrepreneurs and a breeding house. Frutarom’s FoodNxt innovation lab will invest Frutarom’s time, talent, and treasure in companies that focus on solving vital problems that plague consumers and manufacturers today – problems like obesity, diabetes, finding alternative protein sources, addressing unmet need for natural and healthy food products and supplements that maintain nutritional values and protect the environment,” she notes.
“Strategically, we seek real innovation in every aspect of Frutarom activities,” notes Glickman. “In the past few years, we have collaborated with innovative startups and companies to identify novel ingredients and technologies. For example, developing the ‘NutraT’ a line of ready-to-use soluble powder formulas that dissolve easily in water, soft drinks and dairy products, or Frutaceuticals, a nutraceutical line that incorporates functional botanicals into real fruit pieces, developed with Taura URC Technology, and many others. Innovation is one of our key drivers to success in making better-for-you products based on our expertise in taste and health.”
“The innovation labs program launched recently by the Israel Innovation Authority enables seasoned and experienced corporations such as Frutarom to provide start-ups with the required platform to grow and establish their businesses with the right global market focus,” says Anya Eldan, VP Start-Up division at the Israel Innovation Authority. “Moreover, such program enables the promotion of innovative ideas and technologies as part of a growing food-related ecosystem in Israel.”
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