Spain: Program awards €10m to foodtech startups

The Spain Foodtech Program, a start-up acceleration initiative led by Eatable Adventures in collaboration with the National Center for Food Technology and Safety (CNTA) and the Spanish Institute for Foreign Trade (ICEX), has announced the four start-ups that will participate in its first edition. The selected companies offer innovative solutions in the fields of food waste and upcycling, vertical farming, and fermentation.

The program will support the businesses with an investment fund of €10 million (US$10.57 million) to be used over the next three years, as well as offer mentoring, networking, and access to leading companies in the food industry.

This approach aims to boost the scaling and expansion of start-ups, according to FoodTech. The initiatives will establish synergies to generate high-impact solutions in the agri-food value chain.

“This program aims to boost the technological development and scalability of the selected start-ups, enabling them to become leaders in their respective segments at a global level. Furthermore, this program fosters the Agri-food tech business ecosystem in Spain, solidifying its positioning and leadership,” Paula Giser, VP of acceleration programs at Eatable Adventures, tells Food Ingredients First.

The call for projects has received over 120 submissions, making it a challenge to select the technology-based projects with the most potential, according to Giser.

Read the entire article at Food Ingredients First

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