Israeli food-tech advances as Aleph Farms seeks regulatory nod for cell-based steaks

With a focus on alternative protein products, Israel in recent years has emerged as a key player in the global food-tech industry. The country has leveraged the same research and development prowess it has in ICT fields (it ranks No. 7 in the world for knowledge and technology outputs, according to the World Intellectual Property Organization) to become a global innovator in the segment. It is also making strides in commercialization, with Aleph Farms applying this summer for British and Swiss approvals for its cell-based steaks. However, food-tech is facing a severe fundraising slump and waning consumer demand for alternative protein products like fake meat. But industry figures say the market’s long-term outlook remains strong despite the challenge to address high prices and concerns about the health implications of excessive processing. Although no Israeli start-up is likely to emerge as a leading global player, the local industry will serve as a center for continuous innovation, creating start-up investment opportunities akin to those that now exist in the Israeli ICT sector.