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China Food Tech Hub Adds Nestlé, Ajinomoto, Barillas Blu1877 to 15 Food Innovation Consortium

 


Founded last year by Chinese venture capital firm Bits x Bites, the consortium now has 15 members and fosters collaboration with start-ups and multinationals from consumer foods, animal feeds, flavors, raw materials to agricultural processing. I am aiming for that.

Matilda Ho, Founder and Managing Director of Bits x Bites, said: Just this April, China has become the world’s largest source of international patent applications. In food and agriculture, Chinese scientists are also some of the most prolific producers of scientific research patents and papers.

She added that translating research into commercial success is time-consuming and requires a supportive network.

Italian pasta giant Barillas food innovation and venture arm Blu1877 are such newcomers.

Vice President Michela Petronio told FoodNavigator-Asia: Weave has recently begun recruiting for the startup Good Food Makers. We want to reach out to many visionary teams and discover new opportunities for Barilla innovation and collaboration.

Plant-based sustainability, well-being and convenience trends are some of the areas we are interested in. Today, we are all faced with new challenges related to food access, excess food, food waste, and food safety, and as players of the wider food system, we have a real impact. If you want to give, you need to find new solutions that give people access to healthier, sustainable foods about the well-being of the communities in which we all live.

Existing members, Global Director of Innovation, Givaudan of Alexander Bastos, said: China is arguably a key high-growth market for Givaudan now and in the near future. We have seen a new Foodtech ecosystem and many start-up companies in China. We believe that these innovators will play a key role in accelerating and customizing key global trends such as alternative proteins, cell culture, and future agriculture tailored to local and regional needs. consumer.

Bastos said the consortium’s first year gave solid access to the most innovative companies in China and the region. We obviously had a first column view of all of them and had the opportunity to investigate potential collaborations. We want them to take part in this journey, leverage their knowledge through collaboration, expand their expertise, expand their access to markets and bring innovation to China.

Ho added that some startups are discussing with member companies in a pilot project, but could not share the details.

The three new members will join existing mega players such as Coca Cola, PepsiCo Greater China, General Mills, Ferrero, Griffith Hood, LDC, Maas Wrigley and Monderes.

Hopeful future

He stressed that overall investment in VCs in China in the first quarter of 2020 fell 65% compared to the same period a year ago, but the future of future technology remains bright.

In the last few years, many of the food-starter startups funded by investors have been downstream companies competing for distribution and branding. In the future, the balance may shift to companies that create real value by solving the actual challenges of companies and markets. Ho is also excited about opportunities for health and wellness, nutrition improvement, functional foods and beverages.

13% of Chinese medical costs go to the treatment of diabetes. This is just one of the lifestyle-related diseases that is gaining attention in the aging of China. As the consumption of health products increases, so will consumer oversight. Look closely at companies that can offer differentiated solutions with scientific support to earn the trust of consumers.

We also look at technologies that can add value as plant protein product upgrades progress. This includes ingredients and processing techniques that improve sugar, fat and salt reduction, texture, mouthfeel, and a clean label, Ho added.

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