Finland aims to create a leading edible insect business ecosystem
Salo, Finland – June 7th, 2016
A recently commenced project, headed by Invenire Market Intelligence Oy, will explore consumer-centric business opportunities around edible insects. The ultimate goal is to establish a multidisciplinary Finnish business ecosystem focusing on creating new business opportunities within sustainable food production. Edible insects will be the starting point of the ecosystem.
– The project sets a leading example on how business leaders can create a better and more sustainable future through creative yet profitable business models. We are all facing the same problem: our current food value chains cannot be sustained for much longer. We need to revolutionise long and unsustainable global supply chains, and produce food close to where it is consumed – even within our own homes. And we need new protein sources. Although creating a more sustainable future is a serious challenge, it also contains enormous opportunities. With willingness to innovate and be radical those opportunities can transform into serious business, explains CEO Patricia Wiklund from Invenire Market Intelligence Oy.
The 6-month long project, ending in October 2016, focuses on business opportunities with edible insects. Edible insects are a nutritionally high, quality source of animal protein, suitable for a wide range of food and feed applications. There is already a group of insect businesses in Finland, and a few research institutes and food and feed industry players are already exploring the potential of edible insects. The project even aims to tap into industries beyond food and feed to find broader cooperation possibilities – partners whose skills can add to creating solutions that match consumers’ lifestyles and even help change consumer behaviours. Finland has been a leading country in mobile technologies, and strong in engineering and forest industry, but also many other industry areas can provide synergies and solutions.
By bringing different industries together, Finland can make a big impact towards a more sustainable world. Johanna Tanhuanpää, Invenire’s Analyst and manager of the project, describes its mission:
– To make a real impact for sustainable food production with novel solutions like insects, they will eventually need to penetrate the industry widely and be used in big volumes. While consumer acceptance, regulatory issues and technological readiness are still barriers to overcome, we want to demonstrate with the project how to transform challenges into consumer-centric solutions and profitable business models. The ideas, work methods and processes developed through this project can later be applied to building other sustainable business cases.
The project is funded by Invenire as well as Tekes, the Finnish Funding Agency for Innovation. It is part of a bigger programme ”Business spearheads and ecosystems in the bioeconomy”, which aims to build new business ecosystems within bioeconomy, from nutrient recycling to wood fibre products.
– We recognised edible insects as an important and realistic solution for the global food challenge. Finland’s competitive advantage lies in our high food safety and our hygiene know-how, among other factors. Now is exactly the right time to boost the business side through this project as well, explains Senior Advisor Heikki Aro from Tekes.
The project will thoroughly explore the business environment for one alternative protein source, edible insects, search for innovative consumer-centric business opportunities, and eventually design a roadmap to start building real business frameworks – in cooperation with potential ecosystem participants. Invenire sees great potential with edible insects as a highly sustainable and nutritious protein source, as well as holding possibilities to revolutionise the way we think about food production. Since 2015, Invenire has been working with companies and industry, in cooperation with the Swiss-based edible insect advocacy 4Ento, to take the edible insect business to a new level through talks and workshops, opportunity and strategy mapping, and initiating multi-client projects.
For more information about Invenire’s work with Edible Insects, visit our Edible Bugs Journey page.
Ongoing project updates can be found through the dedicated LinkedIn channel: Building Business with Edible Insects.
More information on the Tekes programme “Business spearheads and ecosystems in the bioeconomy”: Tekes’ six new stars of bioeconomy exports.
INVENIRE MARKET INTELLIGENCE OY
Invenire is a strategic marketing company working with leaders to achieve visions of more sustainable, responsible and profitable business that better serves the needs of people, planet, and profit. Invenire embraces an opportunity mindset towards business and social challenges, transforming them from problems into positive opportunities that create better and stronger future business. As a Nordic company, Invenire works with clients both locally and globally in the business of food, nutrition and related areas. Serving in the role of the Chief Marketing Officer of the Future, Invenire supports leaders through strategic planning and modelling, sustainability integration, market and customer insight, effective brand building and communications, and customer innovation.
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Invenire Market Intelligence Oy
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Invenire Market Intelligence Oy
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