By Neha Poddar, partner, Good Startup
The approval of cultivated meat sales in the US in Jun 2023 marked a milestone for the alternative proteins sector in its history. It was the culmination of years of effort by ecosystem players including startups, governments, research institutions, non-profits, and investors. While the US is not the first to grant approval to cultivated meat (the credit goes to Singapore), it is arguably the most significant. It is the largest market for consumers, remains the most vibrant for startups, and garners the most capital from investors.
Make no mistake, cultivated meat is still a distance away from reaching scale and being available at a competitive price. While companies have been improving their technology, with investors pumping in billions of dollars in funding, this approval allows the most important stakeholder – the consumer – to be involved in the progress of the industry. The availability of cultivated meat in the US will pique further consumer interest as they can now taste these bioidentical products and be a part of a turning point in history. In light of this recent achievement, let us look back at the journey which brought us here.
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