Insect protein firm joins IKEA’s start-up accelerator
Flying SpArk Ltd., an Israeli-based insect-protein producer, will join the first IKEA Bootcamp start-up accelerator.
Flying SpArk Ltd., an Israeli-based insect-protein producer, will join the first IKEA Bootcamp start-up accelerator. The launch of this unique boot camp generated more than 1,200 applications from 86 different countries, but just 10 start-ups will join the IKEA product development center in Älmhult, Sweden, on September 18, 2017.
Flying SpArk is a new food-tech company focused on all-natural protein extracted from the Mediterranean fruit fly for human consumption. The ingredient is high in protein, calcium, iron and potassium and, unlike meat, it is odorless and virtually cholesterol-free.
“We are excited to join the IKEA accelerator and to have the opportunity to learn how to work with a giant retailer like IKEA,” says Eran Gronich, co-founder & CEO of Flying SpArk. “This will completely enhance our product development and how we progress. IKEA will mentor and work with our team toward eventual collaboration between the companies to develop a product and hopefully to launch it at IKEA’s restaurants.” The idea behind IKEA's collaborative boot camp effort is what the company calls, "Co-creating a better, everyday life.” The mission is to encourage start-ups that are working to solve some of the world's most pressing problems. IKEA owns and operates 389 stores in 48 countries. Its income from foods last year was an estimated €2 billion.
“Millennials want to create a more sustainable world, to make it a better place for all of us, and they are willing to add insect flour to their food to help achieve this goal, notes Gronich.”
The high demand for sustainable protein, combined with innovative technology, has driven strong support for Flying SpArk. The company has raised $1 million with the help of the Israel Innovation Authority and The Kitchen, a food-tech incubator sponsored by the Strauss Group (one of the largest food conglomerates in Israel).