Israel: Agtech manufacturer launches incubator for foodtech start-ups
ICL Group seeks to support and fund early-stage and market-ready companies producing alternative proteins and natural ingredients
Agricultural chemical manufacturer ICL Group has established a start-up hub to support and invest in foodtech and agtech companies.
The ICL Planet Start-up Hub will support early-stage and more mature market-ready companies seeking to make a positive and sustainable environmental impact.
The incubator will focus on technology and innovation in crop nutrition, nutrient use efficiency, biostimulants, micronutrients and nitrogen fixation.
It will also seek to invest in and support foodtech companies working on alternative proteins, natural ingredients, plant-based functional ingredients and white biotechnology.
ICL Group VP external innovation Hadar Sutovsky will take on the role of general manager for the incubator.
Sutovsky’s career spans a number of roles focused on innovation and incubation and includes an almost three-year stint at Unilever.
ICL Group already operates a smaller agtech innovation program that was launched in 2014. It has thus far supported over 45 start-ups, with 13 still ongoing.
“We seek start-ups aligned with our organisation on sustainability values and product direction,” Sutovsky said.
“The goal is to synergise efforts and know-how to meet the fundamental needs of our customers and to work together to solve key challenges in the food and agricultural industries.
“Start-ups that join us benefit from our corporation’s accrued wisdom and advanced infrastructure, and attain a fast-track route to commercialisation,” she added.