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Food as medicine
31st Jan 2023
Blogs

Why accelerate "Food as Medicine"?

Envisioning a more sustainable, resilient, and nutritious food system

We recently invited startups to apply for the AgFunder GROW Impact Accelerator (apply by 26 Feb!). Now in its fourth cohort, this flagship programme offers $100K investment from AgFunder and acceleration support to impact-driven agrifoodtech startups.

For this year’s cohort, we are particularly on the hunt for founders working with solutions in, but not limited to, 6 key impact areas. In the coming weeks, we will zoom into these ‘innovation hotspots’ and outline why we believe it’s critical to accelerate them to build a more sustainable, resilient, and nutritious food system of the future.

As a start, let’s dive into the Food as Medicine category (functional foods / precision nutrition).

What is ‘food as medicine’?

‘Food as medicine’ is a growing consciousness among consumers, innovators, and investors about the link between nutrition and healthcare. The concept is that the foods we eat can play a role not just in meeting our nutritional needs, but also in addressing our energy, mood, sleep, and even health issues. 

Whether it’s novel food products leveraging the latest food science, clinically-proven precision nutrition technologies based on genomic testing, or AI-powered tech offering personalised nutrition advice,  the ‘food as medicine’ trend is inspiring a range of new technologies. 

Underlying  the wider trend of ‘food as medicine’ is the reframing of our understanding of nutrition. It is conventionally understood that the vitamin, mineral, probiotic and fiber content in our food can plug important gaps in our nutritional and health needs. However there is a growing body of research showing that certain foods can also bolster our protection against metabolic diseases like diabetes, increase our immunity, and promote proper growth and development.

‘Precision nutrition’ is another way in which innovative foodtech startups are able to leverage technology to create targeted, individualized interventions based on consumers’ unique nutritional and health needs.

Food as medicine

The growing market opportunity for healthy diet choices

In the past few years, COVID-19 has prompted consumers to rethink the ways in which their dietary choices directly impact their health. With better knowledge of how food can maintain our health from the inside out, food as medicine is well-placed to address this growing demand.

Indeed, the general shift towards health-conscious purchases has driven the expansion of the industry and unlocked untapped potential for health and wellness. By 2026, the global functional food market is projected to grow from $98.9 billion in 2021 to $137.1 billion by 2026, with the Asia-Pacific market dominating nearly half the market share in 2019.

Beyond healthcare and nutrition, food as medicine also has wide applicability to beauty and wellness and even for enriching the health of our pets.

Breakthroughs in food as medicine

Some innovative startups are already developing revolutionary technologies in the food as medicine space. 

Through their AI-driven discovery platform, Brightseed (an AgFunder portfolio company) has found two bioactive compounds from waste hemp hulls which demonstrated increased insulin levels in human cells in preclinical trials. Their technology is on track to delivering powerful insights and potential uses for many other metabolic conditions, including the currently untreatable non-alcoholic fatty liver disease

Another AgFunder portfolio company startup, Faeth Therapeutics, is unlocking a new pillar of cancer treatment by leveraging on the understanding of how certain nutrients interact with the growth of tumours. Harnessing the power of food as medicine, Faeth is developing precision nutrition technology to tailor one’s diet to change the “trajectory of certain types of cancer”.

Why accelerate innovation in food as medicine?

At GROW, we know that many of these breakthrough technologies in food as medicine already exist, but have yet to fully harness the market opportunity. We believe that with holistic acceleration support, such as investment, strategic connections to corporate and industry partners, and expert mentorship, startups in this space can supercharge their business and make food as medicine a genuine possibility for more consumers.

The potential impact is undeniable, especially at a time when the nutritional value of our foods is decreasing and malnutrition persists despite economic prosperity. Food as medicine startups with verifiably effective technologies present opportunities to address many of these problems at the intersection of food and health.  We believe in supporting this foodtech revolution to unleash a future where better food and better health is accessible for everyone.

That’s why we’re on the lookout for startups in food as medicine, functional foods, and/or precision nutrition for this year’s cohort of the AgFunder GROW Impact Accelerator.

Here’s to building a food system that is sustainable, resilient, and nutritious for all!

Interested to know why we’re accelerating these six impact areas? Keep watching this space!
Food as medicine

Are you a food as medicine startup?

Apply for the GROW Impact Accelerator Cohort 4 today!

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