Giving a lift to the developing opportunity protein area, worldwide investor Big Idea Ventures (BIV), Kolkata-primarily based monetary services corporation Ashika Group, and non-income Good Food Institute India (GFI India) have joined arms to release India Alternative Protein Fund and Accelerator.
According to the professional declaration, the BIV-Ashika India Alternative Protein Fund will release an accelerator in 2021, with the intention to assist startups worried in progressive plant-primarily based, fermentation-derived, and cultivated protein industries, with investments and mentorship to assist them develop throughout the Indian and global marketplace.
“The opportunity protein or ‘clever protein’ area is hovering globally, with unexpectedly developing worldwide intake and billions of bucks in investments in businesses including plant-primarily based meat and egg pioneers Beyond Meat and Eat Just, Inc. GFI India has undertaken studies which underscores Indian clients are primed to consume those meals in step with their worldwide counterparts, mainly because the COVID-19 pandemic brings multiplied interest at the threat of zoonotic disease and weather change,” the declaration noted.
A current record by Meticulous Market Research discovered that the worldwide alternative protein market is anticipated to develop at a CAGR of nine.five percentage from 2019 to turn out to be a $17.9 billion market by 2025.
New possibilities for entrepreneurs
The fund and accelerator will assist startups which can be specializing in growing progressive plant-primarily based totally, fermentation-derived, cultivated meat, seafood, egg, dairy meals, and also are surroundings pleasant through the usage of much less land and water.
“Alternative protein is a key lever in our combat towards weather change, malnutrition, meals insecurity, and public fitness risks. It’s additionally a large possibility for enterprise and task growth, with participation throughout the board from governments, huge meals and animal meat businesses, and marketers,” stated Varun Deshpande, Managing Director on the Good Food Institute India in a declaration.
He stated that the Indian surroundings is anticipated to develop over the following couple of years through leveraging the country’s expertise and agricultural biodiversity, and this fund may be a massive breakthrough toward attaining the growth.
The companies introduced that they have already began out elevating a $25 million fund for India and may begin accepting packages for the Mumbai-primarily based totally accelerator subsequent 12 months onwards. The decided on startups will acquire investment, hand holding, mentorship, and get right of entry to to Indian and global community of company partners, restaurateurs, retailers, and different buyers as a part of the accelerator programme.
“Alternative protein is a first-rate possibility for Indian marketers and company players to get worried withinside the destiny of meals. We’re searching ahead to assisting Indian marketers thru the BIV-Ashika India Alternative Protein Fund, and bringing our knowledge in fundraising and scaling F&B companies to their journey,” stated Chirag Jain, CEO, Ashika Group.
BIV has already been working a $50 million global fund and accelerators throughout New York and Singapore, and has already invested in greater than 20 ventures throughout the globe, such as Mumbai-primarily based totally foodtech startup, Evo Foods. The VC corporation claims to were operating with opportunity protein assume tank GFI India for over a 12 months to apprehend the market possibility in India.
It has now joined fingers with Ashika Group to manipulate the funding fund because the organization has revel in in supporting numerous Indian businesses in the meals & beverage area enhance investment and scale operations.
