Genesis Feed Technologies selected for inaugural FoodTech500

Genesis Feed Technologies (GFT) is proud to announce that it was selected from over 1,200 applicants to be part of Forward Fooding’s FoodTech500 — #264 to be exact! — further solidifying its role as a leader in the AgTech global market.

Forward Fooding is a global entrepreneurial network that enables collaborations and partnerships between established food organizations and startups. Last year, inspired by the Fortune500, they decided to choose the top 500 startups from the AgTech industry — what they describe as, “2019’s definitive list of global entrepreneurial talent at the intersection between food, technology, and sustainability.”

“We saw a truly global response with over 1,200 applications from 54 different countries, across 8 different categories of AgriFoodTech,” Forwarding Food states. “It’s time to introduce you to the world’s first FoodTech 500.”

You can view the full FoodTech500 list here.

Forward Fooding reported that in total, 78.2% of FoodTech 500 companies are less than 5 years old and 56.1% are at pre-seed or seed-stage funding. Yet despite their early stage, close to 75% are revenue-generating.

“Being a part of FoodTech500 just continues what we’ve already been seeing with Genesis Feed Technologies: It shows validation of what we’re doing,” co-founder and CEO Peter Schott said. “It also allows us to showcase the sustainability element to our platform, helping reduce waste nutrients in animal production, which reduces pressure on environmental pollution.”

The focus on buying soybeans for high protein can lead to a negative environmental impact, Schott said, because it results in some of the protein going undigested and coming back into the soil as waste and nitrates.

With the GFT platform, ingredient buyers are able to make precise, data-driven choices with their feed, ensuring that nutrient waste is little to none.

“We are helping to eliminate waste and create nutrient-rich options that are cost-efficient and environmentally friendly,” Schott said.

As part of FoodTech500, Schott and the GFT team will continue to explore sustainability elements of their platform, as well as connect with leaders and mentors from the top AgriFoodTech companies around the world.

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