SIAL 2018 at Paris this October
SIAL 2018 at Paris this October is set to feature a ‘Future Lab’; a ‘rising start-ups’ space highlighting the food products and services of the future. With start-ups becoming an increasingly important part of the global economy, one should look at France’s burgeoning food start-up industry. Emmanuel Macron once proclaimed that he wanted to turn France into Europe’s technology powerhouse; saying that “A start-up nation is one where each individual can say he or she can create a start-up. I want France to become one.”The network of incubators, investment support and growth accelerators that formed the organisation La French Tech has swelled in size over the last few years. Paris is now one of Europe’s leading hubs and France is home to numerous success stories; and food start-ups in France are no exception.
In 2013 there were only 68 food-related start-ups and only €22 million in investment, compared to 472 food start-ups and €317 million in February 2018.
One example is Feed. Created in 2016 in Paris, Feed aims to create smart food from alternative ingredients; ‘nutritionally perfect’ meals in easily consumable forms such as powdered drinks. In 2017 alone this company raised €3 million. Another successful food start-up is Frichti, a high-quality food delivery service created in 2015 that now delivers 10,000 dishes a day and has amassed €43 million in investment.
Overall, the combination of French gastronomic excellence and technological ingenuity gives it an almost unparalleled advantage, rendering it the perfect investment market. As well as being advantageous for R&D tax incentives and effective corporate tax rate on R&D operations, France is Europe’s 2nd biggest consumer market. With numerous small and large tech companies investing, or ready to invest, the best, I am sure, is yet to come !