ICL a leading global specialty minerals and specialty chemicals company, has announced the launch of ICL Planet Startup Hub, the new innovation platform that is expected to help propel innovative foodTech and agriTech start-ups to the marketplace and to provide enterprises with an extensive network of support, including investment and mentorship.
ICL Planet was created as an innovation catalyst serving early stage, pilot-ready start-ups, as well as more mature, market-ready start-ups operating within the agriculture and foodTech domains. The initiative was driven to advance and nurture game-changing technology companies active in addressing critical global needs and making a positive and sustainable environmental impact.
ICL has named Hadar Sutovsky VP of External Innovation and General Manager of ICL Planet. Sutovsky is a seasoned player in the global foodTech and sustainable agriculture arena. She has held key roles in incubation and investments, leading innovation, and global business development for major agrifood firms and VCs. Her past partnerships include the Aquagro Fund, the Global Unilever Open Innovation Hub, and Frutarom, Ltd.
Said Sutovsky: “We seek start-ups aligned with our organisation on sustainability values and product direction. The goal is to synergise efforts and know-how to meet the fundamental needs of our customers and to work together solve key challenges in the food and agri industries. Start-ups that join us benefit from our corporation’s accrued wisdom and advanced infrastructure, and to attain a fast-track route to commercialisation.”
The new start-up hub will centre activities on two core areas of competency. The first will focus on areas related to crop nutrition, such as organic fertilizers, nutrient use efficiency, bio stimulants, micronutrients and nitrogen fixation. The second will focus on foodTech start-ups active in the areas of alternative proteins, natural ingredients, plant-based functional ingredients, and white biotechnology, that can demonstrate a measurable positive environmental impact.
The ICL Planet Startup Hub is an extension of ICL’s existing external innovation activities. The program was initiated in 2014 for scouting breakthrough technologies emerging from universities, institutes and early-stage start-ups. ICL sponsors long-term R&D and proof-of-concept projects, in exchange for a royalty-bearing license. Since its inception, more than 45 projects have been nurtured under the program, with another 13 ongoing. The current projects are mainly in the agriTech space, with some already in the commercialisation phase.
Added Sutovsky: “As global leaders in the field of agriculture, food and engineered materials, we are constantly developing impactful solutions to improve the quality of life for millions worldwide via our established R&D infrastructure. Our value proposition is much more than merely funding; we answer early stage companies’ needs to run pilots and move them to the commercial stage with full support.” For more visit icl-group.com/innovation/planet-startup-hub/