Food companies around the world are investing substantial sums to offer customers better products and improve their bottom line. One of the notable trends in recent years is the advent of Food Technology. In 2014, the field generated an estimated $50 billion in revenue; in Israel, FoodTech remains in its infancy, with only a few dozen companies in the sector.
Food conglomerate Tnuva Food Industries Ltd. has announced an investment in FoodTech initiatives on Tuesday, when it became a partner in TechForGood's Rally accelerator, for a specialized program that would seek food entrepreneurs. Tnuva hopes to improve its internal development with startup technology.
Tnuva and TechForGood previously cooperated during Rally's debut session, when entrepreneurs were asked to develop apps for healthy living and nutrition. Tnuva's Health & Wellness Manager Noga Schwartz Meshulam said: "We are responsible for providing our consumers with healthier, more nutritious food. This responsibility means facing complex technological challenges. Substantial resources are invested in the research, development, and implementation of new technologies. As the R&D leader in the Israeli food sector, we are making our knowledge and our infrastructure available to Israeli entrepreneurs trying to improve the field."
TechForGood Rally's Omri Boral added: "As the place that provides a home for tech entrepreneurs with a social aspect, we believe that FoodTech is one of the most important and influential sectors for public health. The startups that are accepted to the program will have direct and unprecedented access to Tnuva's R&D center. Combined with the mentoring offered by the accelerator, we are providing the best framework for entrepreneurial success in the sector."
Registration for the accelerator ends September 30, 2015.
Published by Globes [online], Israel business news - www.globes-online.com - on September 8, 2015
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