Seeds&Chips – DFInsights June 18 #1

Published on June 5, 2018

Two weeks ago was taking place the third edition of Vivatech in Paris. We were there for a talk (A big thank you to the Auverge-Rhône-Alpes region and it’s booth dedicated to FoodTech). It’s impressive to see FoodTech becoming a big part of Tech events (when it was mostly ignored few years ago). We also love to see the acceleration of FoodTech dedicated events, as Seeds&Chips. It was in Milan from 7 to 10th of May and we were there.

Seeds&Chips

We had a great time and figured it was fair to share our excitement and insights with you. So we first have made this free 70-page document you can download on our website. You can also access our pictures from the event here.

This event has also made us acknowledge the importance to reach more broadly with you. So, we have decided to go a step further with a webinar. It will take place on the 13th of June at 1:30 PM (CEST, Paris Time). We will cover the main insights we got from Seeds&Chips and answer your questions. You can register here.

Matthieu

(should you need any further information please do not hesitate to contact me)


BIG DEALS

Lunchr

Lunchr just raised 11 million euros

Is Lunchr the new French FoodTech leader? It’s at least the biggest deal of 2018 in the French ecosystem. Going frontal with Edenred (Ticket restaurant), UP & Sodexo, the startup is reinventing the way teams order and share a lunch.

Maddyness


TOP NEWS

Our last article in Maddyness is about the relationships between food corporates and startups: how and why they should work together. It may be our main feedback from Seeds&Chips: too much communication masking a lack ofmeaningful collaborations. With DigitalFoodLab, we think that these collaborations are needed if big food corporates want to survive the incoming disruption (we do more than thinking, we can help you to understand what’s happening, identify opportunities and act on it).
Maddyness

More and more day-empty bars and restaurants are becoming co-working spaces. 2 platforms (KettleSpace and Spacious) manage the restaurants duringthe day, their staff serving as hosts, brewing coffee and placing power outlets. Itbecomes a source of passive income for restaurants which also see the benefit of attracting new customers to their regular services.
SeventFifty

CrowdCow

CrowdCow, a ranch to table meat offer is raising $8 million from investors, including Ashton Kutcher (more known for his movies than it’s “hobby” as a successful tech investor, leading a 100 million fund, A-grade). Future won’t be only made of plant-based meat. Indeed, if commodity meat can be replaced by alternatives, high-end meat is expanding. Crowdcow aims to make these quality meats more accessible to the consumer
Techcrunch

You're in a good company

Join the 60+ clients of Digital FoodLab: leading agrifood companies, retailers, banks, investors, startups, and public organisations.

Use case: project for a global F&B company looking to map its AgTech innovation ecosystem and the best startups to partner with

What we did:

  • Mapping of the AgTech ecosystem: startups, research regulators, and other leading companies.
  • Discussion to select areas to focus on.
  • Analysis of the information to reveal the trends and a model to analyse eventual partners.
  • A workshop to validate the opportunities based on our recommendations.
  • Scouting of relevant partners followed by introductions.

Results:

  • Mapping the different categories of innovations in AgTech that should be considered now to create long-term benefits for the business.
  • Identification of key partners (an incubator and a couple of startups).

Use case: project for a CPG company on the healthy ageing ecosystem

What we did:

  • Education of the board through a couple of workshops to define the perimeter
  • Identification of key opportunities and threats created by long-term evolutions (technologies, business models, behavioural changes).
  • Deep dives on each of the priority categories.
  • Co-construction of a vision on how the company should address these challenges.
  • Identification of partners (startups, incubators, funds) to move forward.

Results:

  • Creating a consensus on which categories to prioritise and how to address them.
  • Implementation of an open innovation strategy through the development of partnerships.

Use case: project for a global CPG company to develop a strategy on the healthy ageing ecosystem

What we do (ongoing mission on a subscription model):

  • Kick-off where we present an overview of the AgriFoodTech ecosystem to select with the client the categories to cover and for each, the level of information required.
  • Monthly newsletter: each month we send a newsletter with the articles that we have gathered ranked by relevance, their summaries, and a layer of analysis.
  • Database: we set up a personalised database that will be filled month after month with the information gathered on the companies identified for the watch.
  • Workshops: twice a year with the client’s innovation team and other “innovation curious” team members, we present an overview of the evolutions, key trends and a dashboard of the topics followed by the watch.

Results:

  • A clear, regular and evolutive tool to follow what is happening in terms of innovation on key topics.
  • A forum (through the workshops) to discuss innovation trends and new opportunities.

Use case: opportunity screening for an ingredient company

What we did:

  • Kick-off to define the perimeter of the ecosystem studied.
  • Mapping of the different trends shaping the innovation ecosystem of the client.
  • Analysis of the trends on DigitalFoodLab’s trend curve and other relevant frameworks.
  • Workshop to discuss DigitalFoodLab’s recommendations on key trends to prioritise

Results:

  • Shared view of the innovation ecosystem for the client with a view of the trends to prioritize.
  • Clear document (personalised trend curve) that can be easily shared internaly to explain the company’s innovation choices and which can be then updated each year.

Use case: scouting for an agriculture coop

What we did:

  • Kick-off to define the perimeter of the client, the goals of the scouting (partnerships) and the criteria on which startups should be evaluated.
  • Set-up scouting: we selected the first batch of 20+ key startups following the criteria of the client.
  • On-going scouting: then we set up a quarterly scouting of about ten startups.
  • For each scouted startup, we created an ID card with key information such as the business and technological maturity, funding, and corporate partnerships. We also added an explanation of why we selected this startup.

Results:

  • An ongoing and evolutive scouting are matching the client's criteria and its capabilities in terms of deal flow.

Use case: working on an acquisition process for a CPG company

What we did:

  • Kick-off to define what the client is seeking, notably in terms of maturity.
  • Workshop with the client based on a mapping of the different innovation ecosystems adjacent to its activities to select some priorities and discuss inspiring examples of startup acquisition stories.
  • Identification of 20+ targets.
  • Workshop to select the most relevant to engage with.
  • DigitalFoodLab worked as a sparing partner during the acquisition process, notably to help design how the acquired startup could be integrated into the overall company’s strategy.

Results:

  • Different results from traditional M&A processes with a focus on the client’s innovation strategy.
  • Identification of a good match for an acquisition.

Use case: market due diligence on sugar alternatives

What we did:

  • Kick-off with the client to discuss its interest on this category, its expectations and existing level of information (notably on the target company).
  • Mapping of the ecosystem to analyse the different existing alternatives and technologies to compare them.
  • Interview (calls) with relevant startups made by our internal biotechnology expert.
  • Recommendation on whether to invest or not.

Results:

  • Clear view of the ecosystem and of the reasons to believe (or not) in each sub-category.
  • Enforceable recommendations based on facts and expertise.