Why Food Tech Matters: Finding Value In Data

Making sure that nobody goes hungry is a huge challenge, and the way we produce and consume food needs to change, as this discussion between Tastewise CEO Alon Chen and Christian Teichmann of Burda Principal Investments makes clear.

Broken supply chains and the war in Ukraine create food shortages for millions, as Teichmann notes – while at the same time, some 1.3 billion tons of food get wasted each year.

These issues disproportionally impact “the underprivileged, and people that really do not have access to food security”, Alon Chen points out.

One solution he sees is “tapping into technology, like fermentations, cell-base protein, optimization of supply chain – and a big layer of all of that is what we call data as a new ingredient for food.”

Chen’s company, Tastewise, provides food producers with insights that can help the industry go “from a 90 percent failure rate to hopefully launching new products” Chen says, “maybe a plant-based shrimp that will actually help save the climate, reduce prices, and hopefully feed the world.”

But sustainability is not the number one concern of most consumers. Health is, Chen says – and many companies, particularly food startups, lack the data to understand their customers.

“If we want people to go to the shelf and pick the right plant-based or sustainable product”, he concludes, “we have to make it healthy.”