Company Creation workshop seeks food waste solutions
Have you ever had an idea about how to reduce some of that waste? Here's your chance to turn your idea into a business. CSIRO is running an Inspiration + Ideation for Upcycled Ingredients From Food Loss workshop in February to connect idea makers with industry to launch successful new companies under a model called Venture Science.
More than 28 million tonnes of food are wasted annually in Australia.
That’s a huge problem, but it gets worse. Think about all the extra inputs behind those numbers: a farmer’s time, water, fertiliser, shipping, packaging and so much more.
In total, food loss costs the Australian economy almost $40 billion a year.
Have you ever had an idea about how to reduce some of that waste? Here's your chance to turn waste into opportunity.
We're running a workshop in February to connect idea makers with industry to launch successful new companies under a model called Venture Science.
RELATED: Register and learn more about Venture Science's Inspiration + Ideation for Upcycled Ingredients from Food Loss workshop on AgriFutures growAG.
A Venture Science success story
Robin Fieldhouse is part of a project team called FytoBio that went through the same process last year.
His team is looking to commercialise ingredients made to create cultivated (lab-grown) meat. It’s currently prohibitively expensive, but reducing the ingredient cost through a business like FytoBio could see it introduced into supermarkets.
Our business idea is part of the solution of feeding the world in a way that doesn’t destroy the planet. Venture Science particularly suits people who want a purpose in their role said Robin.
Robin plans to launch FytoBio as a new business. This will mean that his idea at a workshop has become a business with a launch customer in just 18 months.
"Entrepreneurship and starting a new business is scary. But the risks are more imagined than real if you have good people working with you in a structure that supports success," he says.
Robin is building his entrepreneurial skills and working towards validating FytoBio as an investment-ready venture through our ON Accelerate program.
Going beyond “build it and they will come”
The old adage is "build it and they will come." However, the Company Creation Venture Science model turns that on its head, saying:
If you’ve built it, they’ve already come, Company Creation.
In the world of startup companies, there is something known as the valley of death. This is the phase when new companies launch and seek their first customers.
It’s a particularly vulnerable moment for any company. You might have a new world-beating product or service, and the right people in place. But if you don’t find customers quickly to start bringing in revenue, money will soon run out.
Many extremely promising ideas have found an untimely death in this precarious phase of their commercialisation.
Company Creation under Venture Science connects you with your first customer before you launch explained Robin.
"It’s not a guarantee of business success, but it shows you that you have someone outside of the business that believes in you and is willing to put their money where their mouth is," Robin says.
For budding entrepreneurs, the model connects people with scientists who can develop the solutions. It then assists the founder to navigate finding that precious first customer and extra investment.
"The reward is ownership of something meaningful to you. It’s a great experience to be a part of," he says.
Calling all budding entrepreneurs and venture builders
Our Company Creation team is looking for the next Robin. We're looking for a person with an idea and passion to create positive change. In return we will guide and assist them.
This year's Inspiration + Ideation for Upcycled Ingredients From Food Loss workshop is being held in Adelaide on 20 February, prior to AgriFgutures evokeAG.
It’s an opportunity to connect with like-minded people who are passionate about pushing the limits.
"Venture building is like a community. You want to be successful, but collaboration is what makes it a reality," Robin says.
"It’s incredibly exciting to be a part of."
You can learn more about participating in the Inspiration + Ideation for Upcycled Ingredients from Food Loss workshop here. Don't miss out on tickets to attend Asia Pacific’s premier agrifood tech event, evokeAG on21-22 February 2023 in Adelaide . Tickets can be bought here.
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