Another start-up which was chosen for incubation is the Slovenia-based OriginTrail. "But having a cultural linkage isn't enough we have to make the product tasty, nutritious, convenient, and affordable."Ĭhina is no stranger to food scandals, which has driven Bits x Bites to place a high importance on supply-chain transparency. Matilda Ho also believes China can be a catalyst for this growing entomophagy industry: "Our view is that China has a real opportunity to kick off insect food adoption in a wide scale because cooked insects can be found in many ethnic cuisines across the country," she said. "Compared to pork and chicken, silkworm has twice as many essential amino-acids and double the protein and iron found in an egg or beef." "If you asked scientists to design the perfect meat, they would probably come up with something similar to the genetic make-up of an insect," Reverberi told CNBC. Founder Massimo Reverberi believes insects are a key solution to fighting the world's meat addiction, siting Beijing's pledge to reduce domestic meat consumption by 50 percent before 2030. These are the same silkworms that have fueled the Chinese silk trade for centuries and are now a plentiful by-product of the industry. One of the eight companies Bits x Bites has invested in this "harvest" is the Bangkok-based Bugsolutely, which is already known for their "cricket pasta," which is made of 25 percent farmed-cricket protein from Thailand.īugsolutely started the incubation with the goal to make silkworm-based foods for Chinese consumers, beginning with the snack Bella Pupa. "China has a long legacy of well-balanced diets, but the country's expanding middle class has driven the appetite for meat to an all-time high," Ho told CNBC. "Over 120 days, we offer coaching and capital to help accelerate start-ups who share our passion to a sustainable purpose-and-profit business."īits x Bites offers between $75,000 and $500,000 in capital for no more than 15 percent equity in start-ups it chooses to incubate.įrom day one, meat alternatives has been a top priority for Bits x Bites. "We do not inherit the earth from our ancestors we borrow it from our children." Matilda Ho, the founder of Bits x Bites told CNBC. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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