P.PSH.1385 - The FoodTech Tasmania Accelerator (2022 - 2024)

Summary

This project aimed to support the Australian red meat industry by identifying and developing innovative solutions through the FoodTech Tasmania Accelerator, delivered by Startupbootcamp (SBC) Australia. The key focus was on scouting and mentoring startups aligned with strategic industry challenges, including circular economy practices, functional food and ingredient innovations, advances in food and agri-tech, and sustainable packaging solutions.

Objectives

● deliver at least six pilot projects addressing key innovation themes
● ensure selected startups were investor-ready and aligned with red meat industry needs
● foster strong industry engagement, with a focus on Tasmanian-based partnerships
● provide a final report with key insights and recommendations to MLA.

Key findings

Strong industry engagement: MLA and red meat industry stakeholders provided mentorship, feedback, and investment guidance, enhancing startup alignment with industry needs.

Validated innovation themes: Startups focused on sustainable packaging, functional foods, waste valorisation, and novel ingredients, aligning with MLA’s strategic priorities under the HVFF product and packaging innovation program.

Successful scouting and matching: The scouting process ensured a steady pipeline of high-potential startups, demonstrating the effectiveness of accelerator-driven innovation sourcing.

Investor-ready pilots: The pilots produced are in a mature state for commercial PoCs, offering actionable solutions for the red meat industry.

Benefits to industry

This project provided significant benefits to the red meat industry, including:
● Early access to emerging Innovations: Startups introduced disruptive technologies that support industry growth in functional nutrition, sustainable packaging, and waste valorisation.
● Strengthened industry networks: Mentoring relationships and stakeholder engagement created long-term opportunities for collaboration and investment.
● Global market positioning: Supporting high-value product development ensures Australian red meat remains competitive in global health, wellness, and sustainability markets.
By leveraging accelerator-driven scouting and pilot testing, the red meat industry can continuously integrate cutting-edge technologies into its value chain.

MLA action

MLA is continuing to seek innovative solutions through industry accelerator programs to address the industry's complex problems.

Future research

Future programs should continue exploring underutilised co-products such as offal, bones and blood for high-value applications in nutraceuticals, sustainable packaging, and premium pet care. To maximise impact, MLA can integrate program insights into strategic industry initiatives and showcase outcomes at key conferences to attract new partners and funding. Strengthening early stakeholder engagement, especially with abattoirs, producers and other value chain players and expanding collaboration with corporate partners will further support commercialisation and position the red meat industry as a leader in innovation and sustainability.