{ "docId": "019f6b8e-ea19-71ee-9436-2dc684c6727e", "docSlug": "jarvis-agfunder-alternative-protein-white-paper-flat-and-small", "documentTitle": "AgFunder Alternative Protein White Paper flat and small", "authorId": "agfunder-alternative-protein-white-paper-flat-and-small", "authorName": null, "documentKindSlug": "pitchdeck", "documentKindLabel": "Pitch deck", "sourceTypeSlug": "vc_research", "sourceTypeLabel": "VC research", "presentationDate": null, "orientation": null, "aspectRatio": null, "pageNumber": 29, "pageCount": 42, "prevPage": 28, "nextPage": 30, "slideType": "pain_points", "function": "frame_problem", "density": "dense", "nDataPoints": 0, "notes": "This slide appears to be a page from a report or whitepaper, not a traditional pitch deck slide.", "elementsJson": null, "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019f6b8e-ea19-71ee-9436-2dc684c6727e/29", "deckHref": "/decks/019f6b8e-ea19-71ee-9436-2dc684c6727e", "deckJsonHref": "/decks/019f6b8e-ea19-71ee-9436-2dc684c6727e.json", "deckAnchorHref": "/decks/019f6b8e-ea19-71ee-9436-2dc684c6727e#slide-29", "components": [ { "bbox": { "h": 0.03, "w": 0.08, "x": 0.08, "y": 0.93 }, "kind": "image", "text": "AGFUNDER", "attrs": null, "subkind": "logo", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f12879a1-9237-4c30-8576-aec51eab8dd9", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.35, "w": 0.84, "x": 0.08, "y": 0.11 }, "kind": "paragraph", "text": "On the technological side, the cultured meat industry has the major advantage of being able to apply advances and insights from years of research in cell culture, stem cell, and regenerative medicine. However, to be successful as food companies, cultured meat companies have to contend with unique challenges around scale up and costs. First, cell lines need to be developed to be compatible with large-scale cultivation. This means, among other characteristics, being robust and maintaining stem-ness for continuous cultivation. Second, since cell culture media were initially developed for research and therapeutic purposes, there were no significant incentives to reduce costs. However, for cultured meat to be economically viable, media costs need to drastically drop. That being said, major cost reductions of various biological and chemical compounds have been achieved over the last few decades and there is reason to believe that media prices will follow a similar decline in coming years. Third, scaffolds, which are solid matrices that are needed for cell attachment and differentiation, are still in the development phase, and the industry still needs to overcome various challenges that uniquely apply to each of the desired final products. Finally, large-scale bioreactors required for food applications are orders of magnitude higher than those used for medical applications, and so scaling up with newly-designed bioreactors and further optimizing them for the cultured meat industry remain key challenges.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "4b84aa2a-3901-4399-8ef5-827f42f80f6f", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.12, "w": 0.84, "x": 0.08, "y": 0.76 }, "kind": "paragraph", "text": "From an investment perspective, cultured meat investors will need to contend with long time horizons that may stretch beyond the typical 10-12 year venture capital fund lifecycle. Beyond Meat and Impossible Food are ten and eight year old companies, respectively, and while they faced fewer R&D challenges, it still took these companies a long time to bring commercially viable products to market. The algae biofuels industry provides a cautionary tale for the challenges of scale-up risk that this industry will face. To mitigate these risks, startups may", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "70a0a811-5c50-44fe-a2f3-a9a00ae55060", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.25, "w": 0.84, "x": 0.08, "y": 0.48 }, "kind": "paragraph", "text": "On the regulatory side, cultured meat is experiencing additional challenges on top of the ones described earlier. While regulatory frameworks are being drawn in different parts of the world, some major questions remain. For example, in Europe, cultured meat will be regulated under the EU Novel Foods Regulation—which establishes a 18-months process during which a company has to prove the safety of their products—but it still remains to be seen what studies will be accepted by the European Food Safety Authority. As to the United States, it was recently announced that cultured meat will be jointly regulated by the USDA and FDA, but as Senator Hyde-Smith who wrote the bill that codifies the regulatory framework pointed out \"it is nonbinding and subject to modification or termination every three years\". Alongside mounting pressure from meat industry lobbyists, this was one of the major reasons why five cultured meat companies (Finless Foods, Memphis Meats, Forke & Goode, BlueNalu and JUST) recently formed a coalition—the Alliance for Meat, Poultry & Seafood Innovation (AMPS Innovation)—to represent their interests in Washington.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "e80b5126-2976-4771-ac91-1bdac708bac1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.4, "x": 0.08, "y": 0.07 }, "kind": "title", "text": "7.3. Technical Challenges of Cultured Meat", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "10eb5c0c-e822-42cd-8f39-fdde29d87243", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [], "loops": [ { "to": 42, "from": 3, "name": "Golden Circle", "slug": "11-golden-circle", "bestFor": "Visionary leadership, brand positioning, mission statements", "matchId": "5cee9c0b-3022-40db-9e78-9fc142008d5e", "evidence": "The deck follows the golden circle loop by presenting the why (investment case), what (market opportunity), and how (investment strategy) of alternative protein investments.", "position": 0, "objective": "To understand the why, what, and how of investing in alternative proteins", "structure": "The Why (Belief) -> The How (Process) -> The What (Result)", "confidence": 0.7, "description": "Invert the typical pitch by starting with why you exist, rather than what you do" }, { "to": 30, "from": 26, "name": "Cost Of Inaction", "slug": "27-cost-of-inaction", "bestFor": "Urgent budget requests, compliance, risk mitigation", "matchId": "2b64878f-0a1f-4155-9569-28f9f5a1d586", "evidence": "The deck discusses the risks and challenges of not investing in alternative proteins, such as public acceptance and technical challenges.", "position": 1, "objective": "To highlight the risks of not investing in alternative proteins", "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point", "confidence": 0.6, "description": "Quantify what happens if the audience does nothing" } ], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }