Isra-Tech | AgroTech, FoodTech & WaterTech

Foodtech is one of the hottest areas in Israeli industry – and it only keeps growing | Dan Catarivas

grants for the Foodtech industry and has pledged to continue granting money towards Foodtech development. Much of the sector’s private funding comes from Foodtech “hubs” like The Kitchen and Fresh Start, which invest in innovation across the entire food value chain. The Kitchen, established by the Strauss Group as part of the Israel Innovation Authority, is Israel’s leading Foodtech seed investor and tech incubator. It has already invested in 23 companies, allowing the companies to grow, conduct R&D activities, and constantly innovate to refine their technologies. Some of the most prominent venture capital and public market funds that invest in Israeli Foodtech are OurCrowd, Hanaco, Millennium Foodtech and JVP. Finally, Israeli academic institutions – including the Technion Israel Institute of Science, the Hebrew University of Jerusalem, Ramot Tel Aviv University, and the Weizmann Institute of Science – have been contributing to the Foodtech sector through research and development. In fact, the technologies behind two of the leading Israeli alternative protein companies were developed by prominent academicians in tissue engineering from Technion and the Hebrew University. Beyond these individual funding efforts, in the Galilee region, the Israel AgriFood-Tech Valley was jointly established by the academia, industry, and public and private sectors, with the goal of promoting Foodtech as a

“regional growth engine” and fostering collaboration via incubators, entrepreneurship centers, municipality-level action and more. So far, these strategies and initiatives have accelerated the growth of the region, pushed multiple companies into advanced development stages, and spiked greater interest in international cooperation. The future of Israel’s Foodtech industry is bright, and companies are innovating regularly to contribute to this progress. But, as many startups look to “scale-up” and expand into global markets, there is a big opportunity for governments and non-equity funding sources to support Foodtech growth and invest in the future of the industry. Development of sustainable and efficient food solutions International cooperation is an essential element in assuring the growth, success and the development of Israeli Foodtech companies. The Israeli Federation of Bi-National Chambers of

Commerce with 49 Bi National Chambers as its members, can help Israeli companies and assist them in finding partners and open doors in the international market place.

For more information: www.bi-national.org