ICL, a minerals and chemicals company, has launched its Planet Startup Hub. The platform is aimed to help propel foodtech and agritech startups to the marketplace and to provide enterprises with a network of support, including investment and mentorship.
The platform is designed to assist pilot-ready start-ups as well as more mature, market-ready start-ups.
The company has named Hadar Sutovsky VP of External Innovation and General Manager of ICL Planet. Sutovsky 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.
“We seek start-ups aligned with our organisation on sustainability values and product direction,” said Sutovsky. “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 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, biostimulants, 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, which can demonstrate a measurable positive environmental impact.
The hub is an extension of ICL’s existing external innovation activities. The program was initiated in 2014 for scouting technologies emerging from universities, institutes and early-stage startups. The company 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 assisted through the program, with 13 ongoing. The current projects are mainly in the agritech space, with some already in the commercialisation phase.
“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,” said Sutovsky. “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.”
The company has set up a dual-track program and service envelope for all startups working under its umbrella. Through the program, companies can leverage ICL’s business and infrastructural ecosystem, including investment, co-working space, access to laboratories and analytical equipment, and R&D support, with options for field trials and product pilots.
