London is considered a world leader in the launch and growth of high growth Fintech and Fashtech startups. Few people realise how successful the city is becoming in Foodtech. With a latge and vibrant foodie population situated side-by-side with a rapidly expanding tech community London is set to become the Foodtech capital of Europe.
Startup communities tend to thrive where there is a logic for them to be situated. This usually means that they have a large successful sector thtiving in close proximity to the resources required to build them into technology businesses. For example, London is strong in financial services and has therefore built a leading position in Fintech. The same applies to fashion. We tend to forget the third Ftech, Foodtech. London has all the ingredients necessary to create a thriving Foodtech eco-system.
So what makes London so special in this domain? We have a very large, prosperous population with a huge appetite for some of the most diverse cuisines in the world. This has created an amazing opportunity to offer all sorts of culinary experiences, exactly where and when people demand them. In the midst of this melting pot we have a highly developed technology startup scene and the investor community needed to fuel growth. This has lead to the emergence of a whole host of providers covering everything from insect protein through to vertical farming. We already have our own food delivery unicorns such as Just Eat and Deliveroo with hundreds of new players emerging all the time.
For investors there are a whole host of opportunites to look at, including; food ordering, restaurant management, supply chain and waste management, new food production techniques, new sources of protein, diet management and many others. Food is the world’s largest industry sector and is only set to grow. London is extremely well placed to be at the centre of the foodtech revolution.
We strongly urge founders to look at solving real problems across all points in the supply chain; from farm to fork to bin and not to limit themselves to simple delivery apps which is rapidly becoming a crowded market.
Blog by Paul Dowling — Co-Founder of Dreamstake the world’s first tech accelerator platform focusing entirely on taking startups from inception to Series A. Dreamstake identifies promising startups from universities and accelerators and provides them with access to the resources they need to achieve later stage success. This is achieved through a large programme run out of Google Campus in London and mentoring with our own network of expert investors. We are currently running a Foodtech accelerator with Just Eat. Investors please register for demo day here.