The ProVeg Incubator has opened applications for its next cohort, with a particular focus on startups developing egg, seafood, and chicken alternatives.
According to the alt-protein accelerator, these three areas are major “white spaces”, with more innovation desperately needed. Plant-based cheeses and ready meals are also a priority, along with any ingredient or technology that can replace animal-derived staple products.
Applications will be accepted on a rolling basis through to the deadline on July 31, with the program beginning online at the end of September. Startups worldwide can apply.
Companies featured in previous ProVeg Incubator cohorts have gone on to experience considerable success. One, Chinese peanut-based chicken brand Haofood, recently raised $3.5 million and launched at 2,300 Lawson stores. Another, Israeli cell-based milk company Remilk, closed an oversubscribed $120 million round earlier this year and has just received approval to sell its dairy-identical proteins in the US. Other success stories include Better Nature, Bosque Foods, Mushlabs, Formo, and Hooked.
“At ProVeg, we strive to maximise our long-term impact in order to achieve our mission of reducing the consumption of animals by 50% by 2040,” said Albrecht Wolfmeyer, Head of the ProVeg Incubator. “We would therefore like to see applications from startups that are working on plant-based, fungi-based, and cultured meat and seafood alternatives, using and combining different types of fermentation, precision fermentation, and cellular agriculture.”