Australian Government Backs Magic Valley with $100K to Advance Cultivated Meat
Australian cultivated meat company Magic Valley has received a $100,000 grant from the federal government’s Industry Growth Program (IGP). The funding, part of a broader $400 million initiative, is intended to help startups expand into fully operational enterprises. Magic Valley is known for its animal component-free cultivated meat, produced using induced pluripotent stem cells (iPSCs). This technology enables continuous cell growth without the use of fetal bovine serum, something that has been a key challenge in cultivated meat production. The company gained attention in 2022 when it became the first to produce cultivated lamb using iPSCs. In the following years, it introduced cultivated pork mince and hosted a tasting event featuring cultivated pork bao buns in Brunswick, Melbourne. The funding will support scaling production, optimizing …