Reflecting on the transformative year of 2023 in the alternative protein (Alt Protein) sector, it’s evident that rationalisation has positioned us for a brighter future.
This sentiment was echoed in insightful discussions in January hosted by Food Hack Where 20+ leading FoodTech VCs will invest next (foodhack.global) and the Global Food Institute (GFI) Alternative Protein Outlook – Investment Landscape going into 2024.
At MycoSure, we’re excited to be aligned with a number of strategic trends outlined by industry experts:
- Integration of Alt Protein with MedTech (food as medicine) likewise food waste and side streams as opportunities to develop cost-effective inputs and IP.
- Emphasis on enabling technologies for quicker revenue generation and efficiency improvements.
- Strategic partnerships for R&D and early-stage manufacturing to manage burn rates and secure offtake partners.
- Clear capital utilisation plans and pathways to revenue, blending dilutive and non-dilutive funding.
- Customer-centric approach focusing on price, taste, aroma, texture, and nutrition.
- Commitment to addressing ESG and sustainability concerns, including local job creation and reducing environmental impact – with clear evidence
The challenges of navigating the “year of the cleanse” have honed our focus and resource management. Despite the high-interest rate environment with capital scarce, we remain optimistic about the opportunities ahead.
The insights from panel discussions such as these are invaluable when considering the future of FoodTech to ensure our alignment with industry trends and a disciplined approach positions us well for continued growth.
