Pascual, a leading Spanish manufacturer of dairy products and beverages, has launched Mylkcubator, the first global incubation program for cellular agriculture technologies in the dairy industry. The program is run by the group’s new Corporate Venture unit, Pascual Innoventures, on a mission to support innovative startups disrupting the dairy value chain.
Pascual Innoventures aims to become an early stage investor, accelerating and forging alliances with startups that share the same purpose while also thriving as a corporation by launching its own startups, with the objective of incorporating them into Pascual's future business operations.
The first edition of Mylkcubator will last 6 months, from selection to the demo day. The goal is to enroll 10 startups, entrepreneurs or scientific projects, with innovative solutions in the cellular agriculture spectrum for the dairy industry within the following technologies: cell based, fermentation based and applied technologies. All the details about the program are available on the official website mylkcubator.com.
Pascual Innoventures counts on the support of Eatable Adventures, one of the top three global food-tech accelerators, deriving from their continued strategic partnership after the first plant-based dairy challenge launched in 2020.
According to the RethinkX report “Rethink Food and Agriculture 2020-2030”, by 2030 almost 90% of U.S. dairy protein demand will come from precision fermentation alternatives.
Solid protein (casein and whey) account for just 3,3% of milk’s overall composition, the 87,75% is made up of water and the rest is sugar (mainly lactose), fats, vitamins and minerals.
The key to understanding the disruption of the dairy is that cellular agriculture only needs to disrupt 3,3% of the milk bottle, attributed to the key functional proteins.
Gabriel Torres Pascual, director of Pascual Innova and third generation of the Pascual family is leading the new unit together with Sejal Ravji, director of Pascual Innoventures, a biochemical engineer from UCL (University College London) with a PhD in Rheology.
Sej began his career in Switzerland and France, worked in various companies in the United Kingdom, Ireland and Spain, and also gained experience as a strategic innovation consultant as well as co-founding a FoodTech startup.
Gabriel Torres Pascual has worked for Google in New York and London, holds an MBA from MIT (Massachusetts Institute of Technology) and completed a Master of Science at Imperial College London.
"The entrepreneurial, innovative spirit is in our genes, it comes from the attitude that my grandfather instilled in us of being nonconformist, dreaming big and daring to take risks, not only with our heads but also with our hearts. This is how Pascual Innoventures was born with a long-term vision and the purpose of giving the best for the future of food. We will work hand in hand with startups that allow us to move into the future" says Gabriel Torres.
In addition to this initiative, Pascual Innoventures is already working on many other strategic projects, which seek to respond and provide solutions to some of the major challenges in the agri-food sector, such as food security, health & wellness, and circular economy.
Pascual is a family-owned business established in Spain in 1969 that operates primarily in the food and beverage sector through Pascual and its subsidiary companies.
Pascual has a range of over 200 products, 6 plants, 27 local offices and over 2,000 employees across 63 countries in which it operates.
The primary activity is the preparation and packaging of dairy products, juices, natural mineral water, coffee, and plant-based beverages.
Since 2008, Pascual’s portfolio has been complemented with other value-added products, through agreements and distribution alliances with international companies like Idilia Foods, Upfield, Kellogg and Heinz.
About Pascual Innoventures
Pascual Innoventures is the open innovation arm of Pascual, immersing itself in the entrepreneurial ecosystem to create alliances with startups and other players in the ecosystem who share the same philosophy: anticipating global food needs and giving back to society. For Pascual Innoventures, this philosophy is fundamental, a culture that begins with the premise of creating value wherever they can in this world. It is about giving the consumer a memorable experience and, at the same time, contributing to the survival of our beautiful planet.
About Eatable Adventures
Eatable Adventures is one of the most relevant food-tech accelerators in Europe and Latam with more than 20 corporate programs launched, a deal flow of 1.400 global food-tech startups each year and operations in three continents.
Eatable Adventures detects, promotes and invests in the most disruptive startups that promise a relevant impact on the agri-food value chain, by developing and implementing successful collaboration models with leading companies in the food industry, generating innovation opportunities at high speed.
The company has built a global network of partnerships with Incubators, accelerators, foodtech and agritech events, academia, investors and governments.