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The Spoon

Daily news and analysis about the food tech revolution

IFT

Is IFT’s Launch of an AI Tool For Food Scientists an Indicator of Where Trade Associations Are Going in Age of AI?

Interesting news out of IFT First this week, the food scientist expo in Chicago, where the longtime trade association announced its own AI tool called CoDeveloper.

According to the announcement, CoDeveloper is a platform built for food scientists by food scientists, offering a suite of AI-powered tools to help them formulate new products, reverse-engineer existing ones, and tap into decades of peer-reviewed food science research. Branded as a “co-scientist” named Sous, the platform is designed to live alongside R&D teams and support early-stage development work.

It’s an interesting move for the group, and as far as I can tell, the first time a trade association in the food space (or possibly any industry) has launched its own AI tool to help practitioners do their jobs. It also raises a larger question: could this be a sign of where trade associations are headed as AI becomes more integral to how we work?

It would make sense. Trade associations have historically provided value through education, convening, standards development, and general promotion. In a future where most industries are driven in large part by AI, why wouldn’t these associations, especially science-focused ones like IFT, want to get in on the action?

Of course, there has been no shortage of efforts across the food industry to develop food AI models, whether that’s startups looking to sell their AI as a SaaS platform or big food brands creating AI tools to differentiate themselves. Whether an available-to-everyone AI food product development tool is something hyper-competitive CPG companies would be interested in is yet to be seen, but I am sure that it will be something most members of the IFT community will want to take for a spin around the block.

Chicago

Startup Roundup: Foodtech Incubators to Watch in 2018

While developing food technology has been a priority for many since the beginning of last century, it’s only been in recent years the concept of startup accelerators/incubators has taken hold.

It seems, though, that foodtech is making up for lost time. Startups are everywhere now, from new takes on the meal kit concept to vertical farming platforms to managing pesticide levels. And everyone from Tyson to IKEA to the Institute of Food Technologists (IFT) is getting involved. Last year saw some noteworthy programs from NYC’s Food-X, the student-focused Fund the Food, and Chobani’s incubator, for which applications just closed.

If you missed the application deadline for that last one, fear not—2018 will see many more programs geared towards nurturing the next wave of foodtech business, from the farm to the data center. Here are a few of our favorites to keep an eye on in the coming months:

Yield Lab Accelerator

Since growth of plants and/or animals is a huge part of AgTech, Yield Lab’s program runs for nearly a year, either in St. Lous or Europe. Participants can apply to both. Once selected, each company visits its designated location for two-day sessions that take place six times course of nine months. The Yield Lab provides mentoring and networking opportunities, as well as $100,000 in funds. The program begins on March 6, 2018. The application process for St. Louis is open now. Europe will be announced in the near future, according to Yield Lab’s site.

Techstars’ Farm to Fork

Entrepreneurship network Techstars recently announced its Farm to Fork Accelerator, to be held in Minneapolis-St. Paul this summer. The program invites early- and late-stage startups in AgTech, food safety and waste management, and manufacturing to apply. Ecolab and Cargill have partnered with Techstars for the three-month program, which helps companies with finding mentors, product development, and learning how to communicate with investors. Applications close on April 8 2018.

IFTNEXT

The Institute of Food Technologists (IFT) is still taking applications for its six-week-long IFTNEXT Food Disruption Challenge, which is aimed at helping emerging and investment-ready foodtech startups and entrepreneurs. At the end of the program, IFT will select six finalists (from the 25 participants) to pitch their companies to a panel of judges at the upcoming IFT18 conference. Applications are open until February 8.

TERRA

Tech/startup network RocketSpace teamed up with food- and agriculture-financing company Rabobank to start TERRA, a program is open to a wide range of CPG, AgTech, and foodtech startups alike. Participants head to San Francisco for eight weeks in workshops and mentoring sessions, followed by eight more weeks piloting their businesses. Seed-funded startups are preferred, and applicants’ products should be either in market or ready to launch. Cohort II of TERRA is happening as we speak, but applications are already open for Cohort III.

Food Nest

The Food Nest looks to scale early-stage companies focused on health, wellness, and nutrition to the next phases of their growth. For that, applicants should have at least one proof of concept in market and a run rate between $500,000 and $2 million. The Alameda, CA-based program will select eight to 10 participants from the pool of applicants who will head to program headquarters for four months of curriculum, mentoring, and networking. Companies receive an upfront investment of $40,000 for 5 percent equity in the company. Applications are due by February 28.