The startup Genuine Taste, co-founded by CivMin PhD student Emily Farrar, has won the Spring Invest Together in Climate Innovation program, a $100k investment. The fledgling company was also selected as People's Choice.
The biotech company grows beef fat in a laboratory environment. The resulting impact of this research could see real beef flavour in foods, without the slaughtering of animals, as well as an impact to climate change through reduced emissions.
"During the program, we worked closely with a team of angel investors through a due diligence process," says Farrar.
Adding, "Special thanks to the investor team, who asked many great questions and helped clarify our vision. I can't wait to continue on our journey to create delicious, ethical and sustainable food alternatives for consumers."
The Spring program involved a 14-week program, seeing 75 climate tech ventures apply with only 16 of those accepted. Farrar recounts, "Once accepted, we created a one-page overview of our company and pitched to the cohort of investors, who voted on the top five."
"We were selected for the top five, at which point each company underwent due diligence with an assigned team of angel investors. At the end of the program, the full cohort of angel investors chose one company to receive the $100k investment," she relays. Happily concluding, "We also had a public pitch, where the audience voted for People's Choice, which we also won!"
Spring, headquartered in Vancouver, is a global incubator, accelerator and advisory firm with the goal of looking to change the world through innovation.
Farrar is pursuing a PhD in the Department of Civil & Mineral Engineering at the University of Toronto under the co-supervision of Professor Marianne Hatzopoulou and Professor Shoshanna Saxe.
By Phill Snel
CivMin posted an earlier story celebrating the United Nation’s Sustainable Gastronomy Day on June 18, 2024.