This article is part of a blog series introducing the startup teams of the EIT Food Accelerator Network Helsinki 2024 programme.
From the disruption caused to global grain markets by the Ukraine war to the clearing of the Amazon rainforest for cattle grazing, food sustainability and security are more important than ever before. Synthetic Biology (SynBio), using techniques such as precision fermentation, is increasingly important with its relatively location-agnostic production and potential to replace carbon-intensive animal products, palm oil, and petrochemical products.
However, today 90% of these technologies fail to scale viably. A big part of this is because R&D is slow and expensive—typically taking 3-10 years for products to get from lab to market and experiments costing $10,000-$100,000. Many companies run out of money before they’re viable, let alone reach price parity with traditional products. This is a critical issue, especially when you consider the rapid acceleration of food production challenges as a result of population growth and climate change.
Modern Technology for Modern Biology: Virtual Experimenting for Speed, Cost, and Sustainability
That’s why New Wave Biotech has developed AI Bioprocess Optimisation Software to help alternative
protein innovators get products to market quicker, cheaper, and more sustainably. Using their software, alt-protein companies can experiment on thousands of processes to understand yield, purity, cost, and sustainability virtually, so they can focus experiments and precious resources and time on high-potential processes. As experimental data is added, this technology learns from the data to improve predictions and recommend improvements for the next run. New Wave Biotech believes this has the potential to create a step-change in how SynBio is done. In less than 2 years, it’s already launched a product used by multiple customers and has been recognised by leading organisations like GFI and the Royal Society of Chemistry.
Accelerating to Market with the EIT Community
As the business is now at a positive turning point in its traction and technology development, the EIT Food Accelerator Network provides an exciting opportunity to accelerate the company’s growth. Not only does the programme provide New Wave Biotech access to the world’s largest and most dynamic food innovation community, but its corporate matchmaking and expert support from VTT provide validation and co-development opportunities to accelerate development towards product-market fit. The go-to-market and pitching support of the programme come at a great time as the team looks to streamline its customer journey. Beyond all this, the programme enables NWB to join a community of FoodTech innovators driving positive change to build a future-fit food system that produces healthy and sustainable food for all.
Written by Zoe Yu Tung Law, co-founder & Chief Executive Officer at New Wave Biotech
Find out more about New Wave Biotech on their website and follow their journey on LinkedIn. Learn more about the EIT FAN here.
