Indian Plant Protein Startup ‘Proeon’ Earns A Spot In American-Japanese Global Accelerator Program

Proeon, an award-winning Indian food technology startup has been selected for the global accelerator program called Food Tech Studio - Bites! by Scrum Ventures. The program is aimed at encouraging unique innovations to help create a sustainable and healthy food system.

Launched in September 2020, Proeon creates ingredients with plant-based protein with a higher nutritional value, functional profile and flavour. These are employed in creating alternative proteins which currently include Amaranth Protein, Hemp Seed Protein, Mung Bean Protein, Fava Bean Protein, and Chickpea Protein. An imprint of Sattvaponics Solutions, Proeon has won awards such as the ET Power of Ideas 2018, the SAP Innocity Challenge 2019, and the OHSSAI Excellence & Sustainability Award 2019.

The startup’s selection for the program will give it access to mentorship by global food science leaders such as Akiko Okada, Hajime Yoneda, Michael Wolf, Shin-ichi Ishikawa, and Sara Roversi, among other experts and investors.

The global accelerator program has accepted startups from five categories: Wellness and Health, Next-gen Foods and Functional Foods, Supply Chain and Logistics, At-home and Consumer-focused Technologies, and Sustainability. Out of hundreds of applications from across 30 countries, the global accelerator program has selected startups with dynamic ideas which will aid in creating a sustainable and optimal global food development ecosystem.

Kevin Parekh, Korde’s business partner and co-founder of Proeon, added, “We ardently believe that new and unexplored plant protein sources coupled with strong R&D at the ingredient level are the keys to solving the world’s protein problem. Proeon is committed to innovation in these areas. To achieve this, we are eager to collaborate with leading B2C food brands early on during their product development by customizing and co-creating solutions that mitigate formulation and production challenges at ingredient level. In the end, we all want to ensure that consumers get healthier, tastier, and clean label products, and hence, we are all in this together.”

Kevin Parekh and Ashish Korde, Co-founders of Proeon

Backed by Indian incubators and innovation centres like CIIE-IIM Ahmedabad, CSIR-CFTRI Mysore, and NCL -Venture Center Pune, Proeon sources high-quality and sustainable plant proteins and employs gentle extraction and processing methods. The startup also uses protein conditioning for better nutrition, sensory, functional and organoleptic properties.

Varun Deshpande, Managing Director, The Good Food Institute India, also commented on Proeon’s selection for the program, "In leveraging our unique biodiversity, agricultural supply chains, and entrepreneurial dynamism, Indian innovators have the potential to advance the global state of the plant-based foods sector. Proeon is emblematic of that innovation in plant protein ingredients, and we're thrilled that they have been selected in the Food Tech Studio: Bites! Program offering mentorship from iconic Japanese corporations. We hope to see a slew of products using their expertise and ingredients in the market in the coming months, advancing us towards a more sustainable, secure, and just protein supply. We foresee a domino effect on cutting edge innovation as a result of the inputs they receive in this program, and on further business relationships between India and Japan in the future." 

Proeon, along with other selected teams, will be moving on to the next phase of the program from February. This will include links with leading corporations and industry thought-leaders from Japan and the U.S. to acquire growth opportunities which will contribute to a better food system. Some of these corporations will include Nissin, Fuji Oil, Ito En, Otsuka, Juchheim, Nichirei, and more.

The startup centers around R&D and has been working together with global research institutes focusing on plant proteins to improve the functionality and sensory profile of their ingredients.

“Gaining access to cutting edge research, a competent talent pool, and state-of-the-art infrastructure has been a boon to accelerate our solution development and create an internal knowledge bank,” Parekh said.

Proeon has been taking over the sustainable and healthy protein space in India, Europe, South East Asia and North America through collaborations with globally-renowned multinationals and start-ups. Their alternative protein products will include a clean label plant-based burger patty, plant-based egg-replacement products with high functionality, and plant-based dairy alternatives.