Winning businesses reveals promising future for sustainable food

Mitsubishi UFJ Bank and venture investment firm Inclusion Japan have partnered with Movimento Metropolitano to host the MUFG ICJ ESG Accelerator, dubbed “FOOD×TECH Mercato.” The event highlighted innovative ventures striving to achieve sustainable food practices and biodiversity, culminating in the selection of grand prize winners among various food and beverage businesses.

Movimento Metropolitano, the key collaborator in this initiative, is a London-based sustainable community food market that operates with a vision that extends beyond food. It seeks to create sustainable community markets, building inclusive communities and sustainable local food systems, ensuring that everyone has access to nutritious food.

Cool Innovation Co., Ltd. emerged as the grand prize winner in the Solution Venture category. Their innovative approach addresses the staggering issue of global food waste, where an estimated one-third of food production is lost or wasted annually, resulting in economic losses of approximately ¥142 trillion. The company has developed proprietary technology for refrigerated containers and warehouse modules that maintain the freshness of produce for extended periods, significantly reducing food loss and post-harvest waste. This technology also minimizes water and energy waste, combining IoT technology with platforms and applications to create a groundbreaking networked cold chain. This advancement holds substantial social impact, offering potential for exporting Japanese agricultural products via extended freshness and sea routes, with implementation and distribution partnerships already progressing.

Parade LLC was honored with the top prize in the Food Service Business category. The company focuses on a wide range of sustainable livestock practices across Japan, including resource-circulating fattening, organic livestock, animal welfare, and the re-fattening of disused cows. By highlighting producers with unique concepts and values, Parade LLC supports sustainable production and management activities from production to distribution. Noteworthy is their partnership with Hiramatsu Livestock in Kagoshima Prefecture, which practices innovative methods like raising animals without separating mothers and calves and creating original feed. Parade LLC aims to bring attention to livestock operations that emphasize resource circulation and animal welfare.

ovgo baker, another winner, captivated judges with their plant-based baked goods, which eschew eggs and butter. Their product range includes cookies, banana bread, and muffins, all crafted to minimize environmental impact. By carefully selecting ingredients, ovgo baker’s products achieve a 75% reduction in greenhouse gas emissions compared to traditional animal-based cookies. Prioritizing deliciousness and avoiding terms like “vegan” or “environmental impact,” ovgo baker focuses on appealing to customers through fun and cute marketing. Their approach has garnered a growing following, particularly among young people and women, highlighting the successful blend of sustainability and consumer appeal.

The finalists are set to accelerate their collaborations with Movimento Metropolitano and other sponsor companies.