FoodTech, AgriTech Hot in Israel
|Source: Stock image of Israeli top dishes|
Global Food Innovation Center
Finistere Ventures and three Israeli companies have formed a partnership and are investing $100 million to grow AgriTech & FoodTech startups in Israel. This announcement after the government of Israel established an innovation incubator focused on food technology. The incubator is being built in northern Israel. Finistere, which is a global agrifood investment leader, and the three companies say they're going to bid to operate the incubator.
Very Big Food Players
The four partners are all big players in the food industry and they are betting big on agrifood innovation. Finistere is backed by investors like Bayer and PepsiCo. Tnuva, Israel's largest food company that's controlled by China's Bright Foods, is a partner. Beverage maker Tempo and Our Crowd, which is one of Israel's biggest venture capital firms, are all onboard and searching for innovation technologies in the food sector.
A Lot Is on the Menu
Finistere considers Israel a top innovation hub in the FoodTech and AgriTech arenas. The partners are looking to bankroll promising innovation in anything from alternative proteins and nutritional value improvements to functional ingredients and supply chain efficiency. This is yet another area of innovation where Israel is gaining a lot of traction.