Frutarom is inviting its fellow Israeli food-tech and ingredient companies to join it at the company’s newly opened innovation lad for food-tech start-ups where it will foster a climate of collaboration.
Dubbed FoodNxt, the innovation lab will focus on developing all-natural ingredients for the global food and beverage industry.
More than 80 food-tech start-ups are based in Israel, with rapid double-digit growth rate expected by 2020.
Frutarom was selected, following a tender procedure, by the Israel Innovation Authority to operate the innovation lab for a period of three years.
Start-ups chosen to join FoodNxt will be granted up to 85% of their approved R&D expenses (up to $300,000) for the purpose of reaching a proof of concept. The innovation lab is led by Gali Artzi, Frutarom Innovation Director.
The FoodNxt professional team will help selected start-ups formulate their products to meet all international regulations, develop patent strategy, build business plans and test the market.
FoodNxt offers access to Frutarom’s portfolio for developing and testing on modular platforms, and connect Israeli innovation with the food and health ingredient markets.
Yoni Glickman, President of Frutarom Natural Solutions, said: “Start-ups have become the growth engine of the food industry, and Frutarom, through FoodNxt, is working to accelerate this innovation—by providing know-how, processes, technologies, and expertise to help overcome challenges, nurture development, and launch new products into the global market.”