GFI Unveils First India Good Food Startup Manual To Scale The Country’s Alt Protein Industry
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The Good Food Institute India (GFI India), a nonprofit organization supporting India’s growing alternative protein ecosystem, recently unveiled the first India Good Food Startup Manual in an effort to scale the country’s innovation ecosystem for the alternative protein sector.
Back in 2018, at the inaugural Good Food Conference in the U.S., GFI U.S. launched its first Good Food Startup Manual and now a similar manual recently launched in India providing an in-depth guide to help smart alternative protein entrepreneurs set up their companies.
The manual will have several in-depth resources to build the smart alternative protein ecosystem and will help entrepreneurs on various topics, such as highlighting steps that need to be considered legally for setting up a startup; how to take an idea and convert it into production and how to launch a new product in the market.
Other resources include a step-by-step guide on business insurance, how to hire workers, the different kinds of accelerators to fund your company, how to identify potential investors, what is fundraising, and how to effectively go about it.
In a press release seen by Green Queen, Managing director of GFI (India), Varun Deshpande said that the team has been working diligently to build the smart protein ecosystem from the ground up in India as there has been plenty of investor attention focused on the alternative protein space along with multiple product launches and startups formed across all categories.
“These innovators are working with us to leverage India’s unique potential – our wonderful talent base, agricultural biodiversity, and track record in manufacturing and biopharma – and grapple with its unique challenges. The opportunity to cater to domestic demand for delicious, sustainable, nutritious smart protein foods as well as become a supply and manufacturing hub for the global sector is immense. All of this progress is set against the backdrop of growing demand for meat, eggs, and dairy as incomes continue to rise — making this the critical decade for food system transformation in the world’s largest democracy.”
The opportunity to cater to domestic demand for delicious, sustainable, nutritious smart protein foods as well as become a supply and manufacturing hub for the global sector is immense. All of this progress is set against the backdrop of growing demand for meat, eggs, and dairy as incomes continue to rise — making this the critical decade for food system transformation in the world’s largest democracyVarun Deshpande, managing director of GFI (India)
Innovation Specialist at GFI (India), Nicole Rocque, said: “We’ve accounted for India’s unique business and scientific environment, and jam-packed the India Good Food Startup Manual with nuggets of knowledge that will supercharge entrepreneurs on their startup journey. We’re here to provide mentorship, resources, community, access to our network, and more, and we’re delighted that the manual is of value to innovators.”
Recently, GFI published data that showed that globally, US$3.1 billion was invested into alternative proteins in what was a record year for the industry in 2020, and it also highlighted the enormous growth of the sector in Asia-Pacific, with the capital raised in the region increasing more than six-fold year-on-year.
Especially in India, consumers have been making the shift towards alternative protein and plant-based food given that several Indian food tech companies are making vegan substitutes affordable to several celebrities turning vegan to increasing awareness of the environmental impact of animal agriculture among the audience in the country.
Back in October of last year, GFI India hosted its Smart Protein Summit where several announcements were made including a dedicated investment and advisory platform for Asian food techs, the launch of an India-focused alternative protein accelerator, and details on Bollywood celebrities Riteish and Genelia Deshmukh’s new vegan meat brand among other news.
Lead image courtesy of Ralph (Ravi) Kayden/Unsplash.