09 May Spain’s foodtech sector booms despite reduced global investment in 2022
Spain’s foodtech sector is thriving, best to grab a bite!
As reported in Food Matters Live, a leading media platform for the food industry, €268 million was invested in 2022, a 9.38% growth in the past year, according to ICEX Invest in Spain.
The country’s innovation in foodtech comes as no surprise, considering its position as the third-largest global exporter of fruit and vegetables and a leading producer of olive oil. Start-ups in Spain focus on areas such as alternative proteins, animal-free proteins, functional ingredients, and agrifood technology.
With over 400 start-ups, Spain has a strong ecosystem supported by specialized universities, technological centers, research parks, and innovation clusters. Incubators, accelerators, and innovation hubs are also driving growth.
Major companies are supporting agrifood-tech through open innovation programs, while government agencies are launching initiatives to boost the sector’s internationalization. Investment has been instrumental in the success of Spanish start-ups, with notable rounds raised by national and international investors.
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