After a world tour, where FoodTech Accelerator participated in 23 events in 12 different countries, the call for startups was finally closed.
Nearly 300 startups participated in the rigorous selection process, with candidates coming from 41 countries on 5 continents. Of those submissions, 71% came from Europe, with Africa and Asia representing 13% and 10%, respectively. American startups represented 5% of the selected startups, and 1% of the applications came from Australasia.
The candidates represented the most significant current trends in FoodTech today: Healthy Lifestyle, Agritech, Quality and Traceability were prominent themes that came from both developed countries and emerging economies. Other submissions included solutions in circular economy, innovative delivery methods, new ingredients (particularly plant-based proteins), superfoods and in-vitro foods, as well as innovations in omnichannel models designed to improve the consumer experience.
The selection process for the 7 startups that will take part in the accelerator is now underway. Beginning in January 2019, startups, partners and mentors will begin an intensive 15 week program designed to accelerate the development of innovative solutions. All of the stakeholders share the same goal: to conquer the FoodTech market, an ever growing sector that is estimated to be worth 250 billion dollars by 2022*.
*Source: BIS Research (2016)