“We have an urgent responsibility to rethink and change agricultural yield and efficient use of plants and plant-based sources,” said Taly Nechushtan, CEO of ingredients startup InnovoPro.
For the past 25 years, he has launched products and worked in marketing and management across the energy, communications and food industries, including for leading food companies such as Israel’s Strauss.
Today, with the Israel Export Institute, he also manages B2B chickpea-based ingredient production at InnovoPro. He is well aware of the growing consumer base that demands more sustainably sourced food and clean label products.
The startup itself was founded on the belief that food can heal and prevent diseases.
InnovoPro closed an $18 million series B round in 2020. This year, the “All American burger with a twist” was first shown at IFT. The burger includes a patty, cheese toppings and aioli, which InnovoPro claims is made from its own vegan and clean-label ingredients.
“It’s been incredible to see how people react when they realize how versatile our chickpea protein is,” he said.
Below, Taly (TN) shared with him about his journey to build InnovoPro, the challenges involved and why he believes plant-based protein is a necessity in our current food systems along with some tips for its founders space.
AFN: How did you end up in foodtech and InnovoPro?
TN: Throughout my career, I have worked in various fields, from managing marketing for food corporations to building a renewable energy company. This journey allowed me to gain a better understanding of why prioritizing sustainability and how we grow and process our food is so important.
As InnovoPro’s first employee, the first few months were dedicated to understanding the ecosystem and learning as much as possible about global consumer behavior.
I realized that what we are doing at InnovoPro – extracting protein from chickpeas in a sustainable way – will have a huge impact on the future of food.
AFN: How did your time in sales support you in the transition to foodtech and biotech?
TN: Throughout my 25-year career, I have worked in various management roles for various global corporations.
At Strauss, Israel’s leading food company, I led the market launch of its new food products.
At Shikun & Binui, a global infrastructure company, I built a renewable energy business called Solaria and turned it into a leading solar contractor that eventually made a successful exit.
Today, at InnovoPro, I work with our experienced and highly professional team. I have the unique opportunity to combine my experience, values, and leadership to create a nurturing, innovative and productive work environment that promotes the creation of a sustainable world with tastier, healthier clean labeled food choices.
AFN: Explain your product development process using chickpeas for meat alternatives.
TN: InnovoPro has developed a proprietary extraction process for 70% chickpea protein concentrate. Our flagship product, CP-Pro 70®, is manufactured using a green process and has a low environmental footprint. Our breakthrough technology enables us to create clean label products with a short ingredient list and zero additives. CP-Pro 70® is a high-quality plant-based protein that doesn’t compromise on taste, texture, or appearance.
In 2022, we are transforming from a product company to a chickpea protein platform by unveiling two new products designed to revolutionize the global food and beverage industry. One of them is CP-XTURA 65™, the first chickpea-based textured protein for meat alternatives.
Thanks to its functional benefits and significant nutritional values, CP-XTURA™ 65 provides an excellent texture, bite, and mouthfeel. This has helped the food industry develop non-allergenic foods that meet the growing demand for tastier and more sustainable food choices.
While the market for egg replacement ingredients is gradually expanding, there is a gap within the industry for alternatives that are able to maintain the same shape, texture, and taste that egg whites provide and are desired by consumer. This year, InnovoPro launched CP-FOAM 1001, an egg white substitute that can be used for meringues, mousses, and other vegan desserts.
AFN: What differentiates InnovoPro products from others on the market?
TN: Flavor is the biggest driver in the food and beverage industry, and that remains equally true in the plant-based market. The neutral taste of our chickpea protein gives our product a huge advantage. It is also a non-allergen and non-GMO ingredient.
Nutritionally, InnovoPro’s CP-PRO 70 has a 70% protein concentration and low levels of carbs and sodium. CP-PRO 70 can also be easily incorporated into food recipes due to the fact that it is highly soluble, can form a foam, and is a powerful emulsifying agent.
AFN: Have you been to the market yet?
TN: InnovoPro’s chickpea protein is commercially available and has strong traction with many customers across 12 countries. Our customers range from large corporations such as Migros, the giant Swiss retailer to medium size local companies, to new CPG startups.
To create the best chickpea protein solution, we joined forces with Givaudan, a world-renowned flavor house. We also recently announced an investment from Ingredion, the leading global ingredient solutions company.
AFN: What is InnovoPro’s go-to-market strategy?
TN: As a B2B company, we supply ingredients to global food companies directly or through local distributors and strategic partners.
We started our journey in the dairy alternative category to help customers develop a variety of plant-based products from yogurt, beverages, cheese, ice cream, smoothies, and protein drinks. The next category is egg replacement which shows applications such as mayonnaise and various bakery products.
Currently, we are focusing on the alternative meat market with our chickpea Texturized Vegetable Protein.
AFN: What are your target markets?
TN: Since InnovoPro is based in Israel, we started our journey nearby – in Europe, where our customers and sales come from. Currently, the US market is growing rapidly under the leadership of Michael Kreutzer, Our CCO for North America. We expect the US to become a major market in the coming year and we are planning our expansion into Asia in the near future.
AFN: What major challenges have you faced so far in this space?
TN: The main challenge in today’s protein market is the limited sources of reliable, scalable supply chains available to serve this rapidly growing environment. The production of new functional ingredients such as chickpea protein requires the development of an efficient and sustainable supply chain located close to the growing area and to the customers.
AFN: What kind of support do entrepreneurs in this industry need?
TN: Entrepreneurs often come with unique new ideas and technologies, as well as a great drive to change the world for the better. What they need is teaching about business methods, connections with relevant influencers in the ecosystem, and above all, the funding that comes with relevant and supporting investors.
AFN: What advice would you give to entrepreneurs venturing into the biotech and foodtech space?
TN: One of the strongest advantages of the foodtech industry is supporting the ecosystem.
It is important to know the startups in the field, the pilot plants and research institutes, the NGOs, the suppliers, and the customers.
You also need to find our best position to make a real difference.
