Plant-based start-ups eligible for up to $300k

The ProVeg Incubator – the world’s first and leading alt-protein start-up accelerator – has increased the amount of investment it makes in start-ups that join its programme.

Start-ups that join and complete the programme can now benefit from up to €300 000 (about $327 000) investment, including €75 000 worth of in-kind services. The new package is an increase on the previous cap of €250 000.

Pioneering founders can apply now for the tenth edition of the ProVeg Incubator programme.

“We are looking for mission-driven founders and teams who are developing the next generation of plant-based, fermented, and cultured alternatives to animal-based products and ingredients,” said Albrecht Wolfmeyer, head of the ProVeg Incubator.

“These are very challenging times for founders. With our new investment scheme and a fully revamped programme we want to help start-ups persevere and grow in the face of adversity.”

What’s the deadline and when does it start?

Applications are being accepted on a rolling basis until the final deadline, at the end of February 2023. The programme is open to start-ups from anywhere in the world and will be hosted online, kicking off in April.

Interested founders should apply online.

While the next programme cohort starts in April, companies that join sooner will be able to enjoy the benefits of being part of the incubator’s community as soon as they are on-boarded.

Which start-ups can apply?

The ProVeg Incubator is designed to support mission-driven start-ups working on plant-based, fermentation, and cultured-food products and technologies. Start-ups must have the potential to remove animals from the global food system, either by providing alternatives or with supporting technology.

The ProVeg Incubator, which is based in Berlin, Germany, is particularly interested in receiving applications from start-ups developing egg, seafood, and chicken alternatives, as well as other meat and dairy alternatives, ingredients and technologies that can help substitute animal-derived staple products on a mass scale.

Focus areas include functional ingredients, precision fermentation and biomass fermentation, cell-cultivation and molecular farming, along with the enabling tech, processes, and platforms.

What does the ProVeg programme include?

Start-ups that join the ProVeg Incubator are supported with a tailor-made accelerator programme, one-on-one expert mentoring, access to the Incubator’s extensive networks of industry contacts, and up to €300 000 in funding and in-kind services.

Since its launch in late 2018, the ProVeg Incubator has supported more 80 start-ups from around the world.

This includes Remilk, Better Nature, Vly Foods, Bosque Foods, Haofood, Omni, Kern Tec, Greenwise, Mushlabs, Formo, Hooked, the Live Green Company, and the Nu Company.

Collectively, the ProVeg Incubator’s alumni have raised more than €250 million, with products stocked in over 15 000 stores worldwide.

Start-ups that join have access to a global network including mentors such as Stephanie Downs (Uncaged Innovations), Lisa Feria (Stray Dog Capital), Mark Post (Mosa Meat), Ryan Bethencourt (Wild Earth), David Benzaquen (Mission: Plant LLC), David Brandes (Peace of Meat), Frank Cordesmeyer (Good Seed Ventures), among many others.

What do alumni companies say?

Chris Kong from Better Nature said, “The ProVeg Incubator has a global network of top-tier experts working with them. They’ll help you grow your business and take it to the next level.”

Meanwhile, Isabella Iglesias-Musachio from Bosque Foods added: “The exposure you get, from media to events, is exceptional. ProVeg really puts your start-up in the spotlight.”

ProVeg Incubator was the first incubator for plant-based and cultured food start-ups when it began in 2018 and continues to lead the charge. All funds are reinvested in ProVeg’s overarching mission to reduce global animal consumption by 50% by the year 2040.

READ NEXT: E Squared funds agribusiness with a strong focus on food security