Feb 14 2024

2023 Spanish FoodTech Report Reflects a Rise in the Number of Startups

The report looks at the technologies driving innovation, the role of artificial intelligence in the food chain, and advancements with alternative proteins  

Progress was also made last year though collaboration on strategic projects that will improve the sector's competitiveness by further developing traceability, food security, digitalization, and economies of scale. Additionally, significant progress is being made in fundamental areas crucial for food production.

The report looks at technologies that are propelling innovation, the opportunities and pioneering investments in Spain , the role of AI in the value chain, and innovative and emerging approaches to presenting alternative proteins in the market.

ICEX has been working particularly hard to help the industry gain an international foothold, participating in strategic events outside Spain in Europe (UK, Netherlands…), Asia (Singapore), America (USA) and other places. In short,  Spain is becoming a shining example of a Foodtech Nation thanks to the efforts of investors, startups, universities, corporations, and research centers.

The fourth edition of the report on Spain's foodtech industry was recently presented at ICEX. The report, entitled "FoodTech in Spain - Fostering Collaboration for Sustainable Agri-food Excellence," was extremely well received as it reflected the great strides achieved by the sector over the last year.

At the presentation, participants discussed future challenges, recent developments, and regulation of the industry. Despite market challenges, Spanish startups secured more than $226 million euros in funding, with the support of ICEX.

According to the report, the number of startups continues to rise, along with new alliances that seek to boost innovation throughout the food chain. Other highlights include the creation of new associations in 2023, such as FATE, Food Agri Tech Europe, and VEGETALES, which brings together the producers of vegetable-based food and drink.

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