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BETTER BUSINESS WITH
EDIBLE
INSECTS
Finnish Ento-Business Ecosystem (FEBE)
Final report
December 2016
A JOURNEY TO CREATE
BETTER BUSINESS
THIS IS THEFINAL REPORT
OF THE FINNISH ENTO-
BUSINESS ECOSYSTEM
(FEBE) PROJECT.
This is also the story ofhowto explorethe road
ahead, to make better business happen.
Invenire lead a project to establish a business ecosystem with edible insects
in Finland, funded by Tekes, the Finnish Funding Agency for Innovation
through its BioNets programme .
The project ran from April to October 2016. As the chief project guide and
mentor, Invenire brought together people and companies from different
industries and areas of expertise to develop a viable business roadmap for
an edible insects industry.
THE AIM OF THE PROJECT
To chart the business
potential of edible
insects
To develop a viable
business roadmap for
an edible insects industry
To develop a working
model and structure
for a Finnish business
ecosystem around edible
insects
THE OPPORTUNITYFOR
BETTERBUSINESS
NUTRITION ENVIRONMENT RESOURCES
The food and population crises
are looming – we’ll be over 9
billion people in 2050 and
simultaneously suffering
from malnourishment and
obesity.
Food production causes serious
environmental impact – we
need to create solutions that
don’t not have a cost to the
environment.
Old linear ways of production
and consumption are too
wasteful – circular economy
models make better use of
scarce resources.
CHANGE IS MANDATORY
The currentfood system –the way weproduceand consume
food– has problems inthree main areas
The opportunity of
sustainable proteins
Protein concerns most people in the food value chain,
in one way or another.
Protein – or the lack of it – can mean hunger and poor health.
It is also a factor contributing to many burning issues related to
sustainability, social welfare and equality.
Sustainable protein offers opportunities for better business
for everyone within the food value chain.
Readmoreabout the opportunityofsustainableprotein
Edible insects can contribute to solving the food crisis, as they are high in
nutrients, especially protein, and can be produced efficiently and with much
less environmental impact when compared to almost any other protein source.
They are also in the frontline of circular economy as efficient bio-converters,
being able to utilise waste materials from the food process and convert them
back to high-value nutrients and fertilisers. This may play a crucial role in
future food and feed chains.
Edible insects hold a key to sustainable protein production in a circular
economy.
THE #1SUSTAINABLE
PROTEINOFTHE FUTURE?
OPPORTUNITIES BEYOND JUST
NUTRITION...
Food Feed
Pharma &
therapeutic
uses
Cosmetics &
personal care
Ecosystem
services
Waste
management
& biomaterials
? ? ?
Beyond the food and feed
market opportunities,
there are likely to be
several others we do
not currently even
know of.
CAPTURING THESE OPPORTUNITIESCALLSFOR
INNOVATIVE CROSS-INDUSTRYCO-OPERATION!
ACTIVATINGOPPORTUNITIESTHROUGH
STRATEGY,DESIGN& CONVERSATIONS
All the buzz around edible insects is great.
But will they have a real impact? Insects need to become big - sooner
rather than later. For our own sake, and for the sake of our planet.
But how can we make it happen ?
By embracing an opportunity
mindset & strategic analysis
to discover insights that drive
growth
Creating strategies with
integrated growth,
profitability & sustainability
Designing effective new
models, structures and
processes to create better
business and overcome challenges
Creating value by engaging
people and combining ideas from
multiple viewpoints and
perspectives
THE JOURNEY
THE JOURNEY TO CREATE
BETTER BUSINESSWITH INSECTS
INSIGHT PROBLEM SOLUTION BUSINESSMODEL
INSIGHTS INTO THE
OPPORTUNITIES
EXPLORING THE
BARRIERS AHEAD
DEFINING STRATEGIES
TO ACTIVATE THE
OPPORTUNITIES
CHARTING A ROADMAP
& DESIGNING AN
ECOSYSTEM
SCALE IT
The road to creating better business means stepping into the unknown.
By applying a consumer-centric and adaptive method, the journey
incorporated creativity, open innovation and design thinking.
STEP 1: INSIGHT INTO
THE OPPORTUNITY
Understanding the opportunitiestocreateBetter Business
As groundwork for the Finnish edible insects
business ecosystem project, Invenire researched
the current business environment for sustainable
protein and edible insects in particular including
trends, market issues and industry forces.
This developed a landscape to explore the
pitfalls and opportunities, and challenge the
current environment with radical new ideas.
Edibleinsects are nutritious and can be produced
efficientlywith extremely low environmental impact.
Responsible food
is an increasing trend,
which is a perfect fit with
edible insects.
BUT SUSTAINABLEPROTEIN
SOLUTIONSALREADYEXIST
The demand for protein ingredients in in human food and animal feed,
including pet feed markets, is projected to keep on growing.
However, there are already several existing options for protein
ingredients – both plant and animal origin – and edible insect protein will
have to compete against these, particularly on the following aspects -
VALUE
How does their amino acid
profile and other
nutritional values compare
to competing options?
Do they provide added
marketing potential to the
end-products?
USABILITY
What are their technical
properties like, e.g.
solubility, texture, taste?
What’s their allergen
status?
What’s their status on
other key aspects, e.g.
vegan/vegetarian, organic,
kosher/halal?
MONEY
How does their price
compare to competing
options?
Can they provide cost
savings, now or in the long
run?
EDIBLE INSECTS ARE
A NEW ENTRANT
In the industrialised countries, edible insects have really only started gaining
traction since May 2013 when the Food and Agriculture Organization of the
United Nations (FAO) published a ground-breaking report Edible insects:
future prospects for food and feed security. This report spotlighted the
potential that edible insects could hold to solving the future food crisis.
Many of the current ento-companies worldwide claim the FAO report was the
inspiration for them to start exploring edible insects as human nutrition.
As a result, the majority of the current edible insect companies in
industrialised countries are less than three years old.
INDUSTRY UNDER
CONSTRUCTION
In Finland, there are currently
approximately ten companies directly
involved in the edible insects industry.
They focus on technology and process
development, rearing insects, as well as
developing consumer products.
There are still only a handful of larger
scale edible insects producers globally
– and even those still produce relatively small
quantities and are small in company size. A lot
of the existing production is low-tech and the
process includes a lot of manual labour.
There is no established best technology
for farming and processing on the
market yet – many companies are
developing technologies, but keeping their
development work close to their hearts.
Photo: www.protifarm.com
LOTS OF HYPE – BUT WILLTHE EDIBLE
INSECTSINDUSTRYSURVIVE?
The insects industry has gained a lot of media attention during the past
few years, which has helped in attracting new entrants - in the farming
sector, but even more so on the consumer products side.
Small-scale entry is also not very complicated; insect farming is
quite simple to start on a small scale with no significant investments
required. Incorporating something like cricket powder in snack bars, for
example, is technically not very complicated.
STEP 2: EXPLORING
THE ROAD AHEAD
Clarifyingand further defining the problem
The current market situation was mapped with
grounded insights into possible future
markets for edible insects. It was confirmed
there are many business opportunities for insects.
A clear road ahead, then?
Not quite…
The market exploration also identified some
serious obstacles exist for insects which need to
be overcome. The next step was to apply creative
and radical thinking, to transform the
roadblocks into opportunities.
EDIBLE INSECTS AREIN A
DEATH VALLEY
Currentmainobstaclesmeanthere’sa riskinsectswillnevertakeoff
inhumanfood…oranyotherapplication.
TECHNOLOGY REGULATION DEMAND
Underdeveloped technology
and the state of the industry
means products are currently
expensive with low volume
supply.
Both human and animal
markets are still hindered by
partially unclear and
restrictive regulatory status.
There is a big mental barrier
inhibiting consumer desire –
and also no clear industry
need for insects with their
current product offerings.
…toharness theenormoussustainability
impactedible insects can have!
THE BOTTOM LINE:
BIG VOLUMES ARE NEEDED
EDIBLEINSECTSNEED TOBECOME
MAINSTREAM
As there are currently very few edible
insect products on the market, available
through very limited distribution channels,
the existing consumer base can
safely be assumed to be tiny.
By reflecting on current insects products
and how they are marketed, key consumer
desired are being appealed to -
• Being a trendsetter
• Seeking experimentation and
novelties
• Committing deeply to sustainable
consumption choices.
IN THE CONSUMER MARKET, INSECTS NEED TO MOVE FROM NICHE TO
MAINSTREAM TO CREATE REAL IMPACT
THE KEY LIES INCRACKINGTHE
DEMAND
While the regulatory environment is unclear and restrictive, and
production and processing technologies are under-developed, these are
not the main barriers for insects. These issues will resolve themselves
with time and money.
However, overcoming these barriers is irrelevant without adequate
demand. And this requires cognitive and behavioural change,
across both the consumer and industry sectors.
STEP 3: COMING UP
WITH SOLUTIONS
Overcomingthe barriers and activating opportunities
So it was clear - edible insects face significant
roadblocks.
To move forward, this problem was approached
as an opportunity rather than a barrier.
By asking “what if” and rethinking the
direction and possibilities, three strategies
were identified to increase the appeal of edible
insects.
These strategies created the basis for a viable
business roadmap framework
- a big leap forward to towards making real
business with insects!
3 APPROACHES TO CREATE BETTER
BUSINESS WITH EDIBLE INSECTS
DEMAND & CONSUMPTION
PROCESSING & PRODUCTION
SYSTEMS & SOCIETY
1. PROVIDE SOLUTIONS
Gently nudge people to alter demand and consumer behavior.
Remove mental barriers and develop unique selling points to
provide solutions, instead of problems.
GOOD TASTE,EASIER LIFE, MEANINGFUL LIFE, NEW EXPERIENCES.
DEMAND& CONSUMPTION
2. INCREASE EFFICACY
Insects are more than just a protein ingredient. They are also great
natural bio-converters and waste managers, in the frontline of
circular economy.
REDUCING COSTS, REDUCING WASTE,MAXIMISING THE USEOF
MATERIAL ANDENERGY FLOWS.
PROCESSING& PRODUCTION
3. RETHINKPRODUCTION
Insects can be grown anywhere – in homes, restaurants, cities,
communities, farms – and they have potential to change the
systems of food production and consumption.
URBAN FARMING, LOCAL FOOD, EMPOWERING CONSUMERS.
SYSTEMS & SOCIETY
Better business withedibleinsectscannotbe builtinthe
traditional ways. Newways of thinkingare imperative to
make insectsBIG!
The real sustainability
business makers are creating
disruptive innovations.
STEP 4: DESIGNING A
BUSINESS MODEL
Defining theroadmap for an ecosystem
With three possible strategies defined, a plan and
structure were needed to progress the mission.
How could a young industry best develop forward?
How could people come together, to create real
business with insects?
A business ecosystem – the joining of
companies, academia, financers, government,
communities, NGO’s and other relevant players –
could create an environment where
collaboration and disruptive innovations
could evolve into better business.
PRINCIPLESOF ABUSINESS
ECOSYSTEM
In order to differentiate a business ecosystem from a standard
network, we identified two key principles that need to exist -
A clear business focus
Things are done with the intention of creating business out of
it, whether it’s in the short or long run.
An effective work process
Geared towards enabling business creation and spawning
projects and ventures, big and small.
COMPANIES&
ENTREPRENEURS
FINANCERS
ACADEMIA
OTHERS(NGOs,
government,
communities etc.)
HOW COULDAN ECOSYSTEM BE
ORGANISED?
TOMAINTAIN A CLEAR BUSINESS FOCUS, COMPANIES SHOULDBETHE CORE PLAYERS OFAN
ECOSYSTEM. AN ECOSYSTEM COORDINATOR WOULDENSURETHE ECOSYSTEM WORKSEFFICIENTLY.
ECOSYSTEM
COORDINATOR
Keepsthe network
connectedandmoving
forward
HOW SHOULD AN ECOSYSTEM
WORK?
TOENSURETHE ECOSYSTEM WOULDNOT LAPSE INTONETWORKINGWITHOUTACTION, A WORK
PROCESS TOAID THEECOSYSTEM PLAYERS WASFORMULATED, TOSTART CREATING PROJECTS AND
VENTURES WITHIN THETHREE STRATEGIC AREAS
1 2 3 4 5
INSIGHT INTO
OPPORTUNITY
VALIDATING
THE
OPPORTUNITY
BUSINESS
MODEL
PROTOTYPES
GOor
NO-GO?
INVESTOR PITCH
TRACK
BUSINESS
OPPORTUNITY
EVENT
ONLINE
COURSE&
COMMUNITY
BUSINESS
DESIGN
LAB
PROJECT
EVALUATION
PREPARING
TOLEAP
WHAT SHOULD ANECOSYSTEM
COORDINATORDO?
IDENTIFY
OPPORTUNITIESAND
CREATENEWBUSINESS
PROJECTS
SEARCHFORAND
ENSUREFINANCINGAND
OTHERRESOURCES
COMMUNICATE TO
INITIATECHANGE&
MARKETTHENEW
BUSINESSIDEAS
PUTTINGTHEFRAMEWORKINTO
PRACTISE
The structure and workings of a business ecosystem had been
established.
It was time to take that thinking forward to formulate the founding ideas of
the business ecosystem, by applying the three strategies –
DEMAND & CONSUMPTION
PRODUCTION & PROCESSING
SYSTEMS & SOCIETY
WHAT WOULD A MORE SUSTAINABLE
AND PROFITABLE FOOD SYSTEM WITH
PEOPLEIN THE CENTRE LOOK LIKE?
CONSUMERS: Consumers understanding how their
food is produced and being able to have influence on it.
PRODUCTION: Producers knowing who they
produce for and being able to have influence on what
happens to their products.
DELIVERY: Consumers having access to nutrition in
a way that fits their personal needs and preferences.
CONSUMPTION: Consumers being able to meet
their personal nutritional and culinary needs and
preferences.
RECYCLING: Consumers and producers
understanding what happens to the products at the end
of the cycle and being able to ensure that a circular
model is enabled.
PEOPLE
PRODUC-
TION
DELIVERY
CONSUMP-
TION
RECYCLING
WHAT WOULD IT TAKE
TO MAKEIT HAPPEN?
It would require putting into action values such as transparency, traceability, trust and
origin. It would mean changing the dominant system.
In practice it could mean the following actions for people throughout the system
– whether they are producers, consumers or business people:
TRANSPARENCY, TRACEABILITY, TRUST ANDORIGIN
Increasing
knowledge and
emotional desire to
make more sustainable
choices
Creating solutions that
would make
sustainable choices
easy, self-evident and
automatic
Empowering people
to realise that the
potential for change lies
within them
CANWE MAKEALLTHIS HAPPEN
THROUGH INSECTSALONE?
Edible insects offer one solution to sustainable protein
production, but so do many other sources.
And of course protein is just one piece in the puzzle of
sustainable consumer-centric food systems.
Maybe edible insects offer too narrow a perspective for the
ecosystem?
JUST ONE
PIECE OF
THE BIG
PICTURE
This project started out from charting the
business potential of edible insects and
the possibilities for creating a business
ecosystem in Finland around edible
insects.
While there undoubtedly is business potential
with edible insects both globally and in
Finland, it started to become evident
that the field is just too small and
narrow for an entire business
ecosystem on its own.
BROADERHORIZONNEEDED
Edible insects were starting to look more and more like a pilot case – one
interesting example of how sustainable, consumer-centric food systems can
happen. But the overall picture is so much bigger.
To continue from here, it was necessary to climb a bit higher and
broaden the horizon.
All of this lead to the concept of the Future Food Quest.
FUTURE FOODQUEST
Future Food Quest is a mission.
A call to action for anyone passionate about changing the
way food is produced and consumed – and actively
helping to transform food production through the
principles of Better Business.
FUTUREFOODQUEST
The Future Food Quest is based on premises such as -
Look beyond what
exists to today, to
start seeing future
possibilities
Bring different
viewpoints together.
Challenging the
current model and
employing blue sky
thinking.
Start asking “what
if”, “why not” and
“what else could be”?
THE PROJECT
OUTCOMES
Bringing peopletogether through newways of thinking
This project had clear objectives.
But by its nature, the project had wider
reaching benefits –
• Helping to change current mindsets and
encourage new ways of thinking
• Empowering others and providing tools to
start taking action themselves
• Fostering a collective mission around
insects, helping to form a basis for a sustainable
food business ecosystem
RECAP:WHAT DIDWE FINDOUT
ON THE JOURNEY?
We can’t continue
producing and
consuming food
the same way
as before
There is great
potential and
big
opportunities
with edible
insects
In Finland it’s
still a niche
industry
(not to say it’s
huge anywhere
else yet)
The hurdles are
big for the
industry to
develop business-
wise
Edible insects are
just one
solution - we
need to
broaden the
horizon
We need to go on
a greater mission
to create wider
change – we need
a Future Food
Quest!
PROJECT OUTCOME:
DELIVERING THE INSIGHTS
Insight reports were developed through a
comprehensive market analysis on how
the global edible insects industry looks like
today - and key consumer trends driving
opportunities.
Market Forces Analysis Report
Industry Forces Analysis Report
Opportunities Analysis Report
Trend brief: Protein Boom
Trend brief: Green & Healthy
*To be released January 2017
PROJECT OUTPUT:
ENGAGING CONVERSATIONS
Various communication channels were
used to create conversations to engage
more people with insects and sustainable
food systems, as well as find new
viewpoints.
Personal conversations (meetings, phone
calls), email newsletters, social media
including Twitter and Facebook were
all utilised.
INADDITIONTOEDIBLEINSECTS,THECOMMUNICATION THEMESCOVERED
VARIOUSOTHERTOPICSAROUNDSUSTAINABLEFOODSYSTEMS.
PROJECT OUTPUT:
ENABLING COLLABORATION
In August 2016, a Business Opportunity Event was held at
Wiurila Manor House in Salo, Finland.
The event was a mixture of a seminar and a workshop.
The focus was on presenting some of the findings from the market analysis,
as well as working in smaller groups to discuss the various business
opportunities related to edible insects.
There were 36 participants in the event from different types of
organisations, including insect companies, other food industry companies,
research organisations and regional development organisations.
PROJECT OUTPUT:
SHARING THE OPPORTUNITIES
To present and share the business
potential of edible insects in a concise
manner to a wide audience, a white
paper was created -
“Making the unwanted desirable -
unlocking the commercial
potential of edible insects”
ANYONEINTERESTEDINTHEBUSINESSOF EDIBLEINSECTSCANFREELY
DOWNLOADTHEWHITEPAPERONOURSLIDESHARECHANNEL
This whitepaper was featured at HiEUROPE 2016and offered to allexhibition visitors
PROJECT OUTPUT:
ENCOURAGING NEW THINKING
To encourage and empower new thinking, live
sessions on edible insects were presented at
several conferences, including HiEurope
2016 conference in Frankfurt.
To further share the message, a presentation
snapshot was created and shared through
Invenire and HiEurope social media
channels, and in connection with World
Edible Insect Day.
ANYONEINTERESTEDINTHEBUSINESSOF EDIBLEINSECTSCANFREELY
VIEW THEPRESENTATIONSNAPSHOTONOURSLIDESHARECHANNEL
“Making theunwanted
desirable” at HiEurope
Slideshare presentation
LinkedIn article
PROJECT OUTPUT:
PROVIDING TOOLS
To share the market analysis, insights
and strategic thinking developed through
the project, an online learning course is
being created via Teachable.com.
Targeted to help people make real
business with edible insects, the course
will include presentation videos, the insight
reports, infographics and practical exercises
to help viewers develop their own business
ideas with insects.
BENEFITS
• Easierand moreinteresting
to delivermarketanalysis
• Helpcompaniesturnaction
intoinsight
• Helpcreate a community
aroundedibleinsects
IMPACTINGTHE OPPORTUNITY MINDSET
“Your thinking has a lot of truth in it. There are some innovations under
development that could be the kind of game-changer you suggest is needed.
But generally at the moment we lack a really delicious high-insect food
product. Most are just about as good as non-insect equivalents but with
added smugness. We need to challenge people to come up with this, as you
say there are lots of links in the chain that need to come together.”
– International edible insects business expert
The project demonstrated the opportunity mindset necessary
to create better business.
The project named and addressed the key roadblocks for insects as well as
suggested solutions. It demonstrated how to see roadblocks as opportunities,
and formulate radical new ideas and solutions.
ESTABLISHING A SYSTEMATIC
APPROACH TO ACTIVATE OPPORTUNITIES
“Finnish agriculture and food business are facing a challenging situation.
Climate change, saving the Baltic Sea, as well as the protection of
biodiversity call for a new way of thinking and new ideas for companies.
Now we need new thinking in order to build a truly sustainable future food
business. Invenire is an excellent partner in this work.
- major Finnish primary producer & influencer
The project established a broader mission, the “Future Food
Quest”, to accelerate Better Business across industry
Creating better business ultimately requires real actions. The Future Food
Quest combines the approaches tested in the project, as a systematic way
industry can act on future opportunities to better our food system.
FUTURE FOOD QUEST
–MOVING FORWARD
THE NEXT STEP: TRYING TO GAIN
MORE MUSCLE
Better business is not something anyone can create out of thin air, or on
their own. Partners, money and other resources are needed for
the journey.
So Invenire applied for funding from Tekes to start building a business
ecosystem around the concept the of Future Food Quest.
A ROAD-
BLOCK...
We didn’tgetthat funding.
Are wegoing to give up on
Future Food Quest?
Definitelynot.
HOW TO
MOVE
FORWARD?
What’s the next step from here?
The dream remains the same.
By rethinkingprioritiesand applyinga
strategic, adaptive mindset, we’llfind
other ways toprogress theFuture Food
Quest.
CHOOSINGTHEFIRSTPRIORITY
People.
People are the key to a wider change in the way the
global food system works.
So people will be the first focus.
Action1
CONTINUING THE
CONVERSATIONS
To demonstrate opportunities and
encourage action
Action2
ESTABLISHING
ONLINE LEARNING
To provide tools for leaders to take the
first steps
Action3
ESTABLISHING A BIGGER
PROJECT ON CONSUMER-
CENTRIC THINKING
To help leaders create thriving businesses
through delivering meaningful consumer
solutions
Itis about US.
Whatkind oflegacydo wewant to leave?
Ultimately,
it’s all about
people
Join the next chapterin the journey!
Helpus makebetter business with consumer needsat the core
It is also about
business
that can thrive
in the long term
INTHE END,WE HAVEONLYTHIS
PLANET...
We have to find better ways of living
and help preserve our world for
generations to come.
START WITH A
DREAM
Anything is possible
Imagine a bright future where people are happier
and the planet is healthier.
A future where sustainable living is commonplace and
we all have become better stewards of the planet.
We can changethe world.
The momentwe decidethat somethingis
important is themoment we start to lead.
What legacy do
you want to
leave the world?
GET IN TOUCH WITH US!
www.invenire.fi | doorbell@invenire.fi | +358 40 8228 848
www.shoutaround4food.com
#BetterBusiness #ThrivingFoodSystems #FoodCitizenship #circularity #regeneration
INSIGHTS & UNDERSTANDING | STRATEGY, CONCEPTS & BRANDS | TALKS & WORKSHOPS
© Copyright INVENIRE MARKET INTELLIGENCE LTD 2020
WE’REA MAKING-THINGS-HAPPEN
AGENCY
We work within food, nutrition & related fields.
Whether you’re a farmer, ingredient company, food maker, research organisation or
industry association, our job is to help you make better business.
As CMO of the Future, we empower Leaders to make change happen. Better business for
People Planet and Profit.
Through excellent Design, Strategy and Conversations, we help Leaders act on their values and
purpose. Together we craft innovative business strategies that enable profitable growth with
sustainability at the core.
We create impact that matters.
HEALTH. HAPPINESS. RESPONSIBILITY. EMPATHY. CREATIVITY. EFFECTIVENESS.
doorbell@invenire.fi | www.invenire.fi | DK +45 2938 6104 | FI +358 44 5820 088
© Copyright INVENIRE MARKET INTELLIGENCE LTD 2016

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Better Business with Edible Insects - Finnish Ento-Business Ecosystem (FEBE) Final Project Report

  • 1. BETTER BUSINESS WITH EDIBLE INSECTS Finnish Ento-Business Ecosystem (FEBE) Final report December 2016
  • 2. A JOURNEY TO CREATE BETTER BUSINESS THIS IS THEFINAL REPORT OF THE FINNISH ENTO- BUSINESS ECOSYSTEM (FEBE) PROJECT. This is also the story ofhowto explorethe road ahead, to make better business happen.
  • 3. Invenire lead a project to establish a business ecosystem with edible insects in Finland, funded by Tekes, the Finnish Funding Agency for Innovation through its BioNets programme . The project ran from April to October 2016. As the chief project guide and mentor, Invenire brought together people and companies from different industries and areas of expertise to develop a viable business roadmap for an edible insects industry. THE AIM OF THE PROJECT To chart the business potential of edible insects To develop a viable business roadmap for an edible insects industry To develop a working model and structure for a Finnish business ecosystem around edible insects
  • 5. NUTRITION ENVIRONMENT RESOURCES The food and population crises are looming – we’ll be over 9 billion people in 2050 and simultaneously suffering from malnourishment and obesity. Food production causes serious environmental impact – we need to create solutions that don’t not have a cost to the environment. Old linear ways of production and consumption are too wasteful – circular economy models make better use of scarce resources. CHANGE IS MANDATORY The currentfood system –the way weproduceand consume food– has problems inthree main areas
  • 6. The opportunity of sustainable proteins Protein concerns most people in the food value chain, in one way or another. Protein – or the lack of it – can mean hunger and poor health. It is also a factor contributing to many burning issues related to sustainability, social welfare and equality. Sustainable protein offers opportunities for better business for everyone within the food value chain. Readmoreabout the opportunityofsustainableprotein
  • 7. Edible insects can contribute to solving the food crisis, as they are high in nutrients, especially protein, and can be produced efficiently and with much less environmental impact when compared to almost any other protein source. They are also in the frontline of circular economy as efficient bio-converters, being able to utilise waste materials from the food process and convert them back to high-value nutrients and fertilisers. This may play a crucial role in future food and feed chains. Edible insects hold a key to sustainable protein production in a circular economy. THE #1SUSTAINABLE PROTEINOFTHE FUTURE?
  • 8. OPPORTUNITIES BEYOND JUST NUTRITION... Food Feed Pharma & therapeutic uses Cosmetics & personal care Ecosystem services Waste management & biomaterials ? ? ? Beyond the food and feed market opportunities, there are likely to be several others we do not currently even know of. CAPTURING THESE OPPORTUNITIESCALLSFOR INNOVATIVE CROSS-INDUSTRYCO-OPERATION!
  • 9. ACTIVATINGOPPORTUNITIESTHROUGH STRATEGY,DESIGN& CONVERSATIONS All the buzz around edible insects is great. But will they have a real impact? Insects need to become big - sooner rather than later. For our own sake, and for the sake of our planet. But how can we make it happen ? By embracing an opportunity mindset & strategic analysis to discover insights that drive growth Creating strategies with integrated growth, profitability & sustainability Designing effective new models, structures and processes to create better business and overcome challenges Creating value by engaging people and combining ideas from multiple viewpoints and perspectives
  • 11. THE JOURNEY TO CREATE BETTER BUSINESSWITH INSECTS INSIGHT PROBLEM SOLUTION BUSINESSMODEL INSIGHTS INTO THE OPPORTUNITIES EXPLORING THE BARRIERS AHEAD DEFINING STRATEGIES TO ACTIVATE THE OPPORTUNITIES CHARTING A ROADMAP & DESIGNING AN ECOSYSTEM SCALE IT The road to creating better business means stepping into the unknown. By applying a consumer-centric and adaptive method, the journey incorporated creativity, open innovation and design thinking.
  • 12. STEP 1: INSIGHT INTO THE OPPORTUNITY Understanding the opportunitiestocreateBetter Business
  • 13. As groundwork for the Finnish edible insects business ecosystem project, Invenire researched the current business environment for sustainable protein and edible insects in particular including trends, market issues and industry forces. This developed a landscape to explore the pitfalls and opportunities, and challenge the current environment with radical new ideas.
  • 14. Edibleinsects are nutritious and can be produced efficientlywith extremely low environmental impact. Responsible food is an increasing trend, which is a perfect fit with edible insects.
  • 15. BUT SUSTAINABLEPROTEIN SOLUTIONSALREADYEXIST The demand for protein ingredients in in human food and animal feed, including pet feed markets, is projected to keep on growing. However, there are already several existing options for protein ingredients – both plant and animal origin – and edible insect protein will have to compete against these, particularly on the following aspects - VALUE How does their amino acid profile and other nutritional values compare to competing options? Do they provide added marketing potential to the end-products? USABILITY What are their technical properties like, e.g. solubility, texture, taste? What’s their allergen status? What’s their status on other key aspects, e.g. vegan/vegetarian, organic, kosher/halal? MONEY How does their price compare to competing options? Can they provide cost savings, now or in the long run?
  • 16. EDIBLE INSECTS ARE A NEW ENTRANT In the industrialised countries, edible insects have really only started gaining traction since May 2013 when the Food and Agriculture Organization of the United Nations (FAO) published a ground-breaking report Edible insects: future prospects for food and feed security. This report spotlighted the potential that edible insects could hold to solving the future food crisis. Many of the current ento-companies worldwide claim the FAO report was the inspiration for them to start exploring edible insects as human nutrition. As a result, the majority of the current edible insect companies in industrialised countries are less than three years old.
  • 17. INDUSTRY UNDER CONSTRUCTION In Finland, there are currently approximately ten companies directly involved in the edible insects industry. They focus on technology and process development, rearing insects, as well as developing consumer products. There are still only a handful of larger scale edible insects producers globally – and even those still produce relatively small quantities and are small in company size. A lot of the existing production is low-tech and the process includes a lot of manual labour. There is no established best technology for farming and processing on the market yet – many companies are developing technologies, but keeping their development work close to their hearts. Photo: www.protifarm.com
  • 18. LOTS OF HYPE – BUT WILLTHE EDIBLE INSECTSINDUSTRYSURVIVE? The insects industry has gained a lot of media attention during the past few years, which has helped in attracting new entrants - in the farming sector, but even more so on the consumer products side. Small-scale entry is also not very complicated; insect farming is quite simple to start on a small scale with no significant investments required. Incorporating something like cricket powder in snack bars, for example, is technically not very complicated.
  • 19. STEP 2: EXPLORING THE ROAD AHEAD Clarifyingand further defining the problem
  • 20. The current market situation was mapped with grounded insights into possible future markets for edible insects. It was confirmed there are many business opportunities for insects. A clear road ahead, then? Not quite… The market exploration also identified some serious obstacles exist for insects which need to be overcome. The next step was to apply creative and radical thinking, to transform the roadblocks into opportunities.
  • 21. EDIBLE INSECTS AREIN A DEATH VALLEY Currentmainobstaclesmeanthere’sa riskinsectswillnevertakeoff inhumanfood…oranyotherapplication. TECHNOLOGY REGULATION DEMAND Underdeveloped technology and the state of the industry means products are currently expensive with low volume supply. Both human and animal markets are still hindered by partially unclear and restrictive regulatory status. There is a big mental barrier inhibiting consumer desire – and also no clear industry need for insects with their current product offerings.
  • 22. …toharness theenormoussustainability impactedible insects can have! THE BOTTOM LINE: BIG VOLUMES ARE NEEDED
  • 23. EDIBLEINSECTSNEED TOBECOME MAINSTREAM As there are currently very few edible insect products on the market, available through very limited distribution channels, the existing consumer base can safely be assumed to be tiny. By reflecting on current insects products and how they are marketed, key consumer desired are being appealed to - • Being a trendsetter • Seeking experimentation and novelties • Committing deeply to sustainable consumption choices. IN THE CONSUMER MARKET, INSECTS NEED TO MOVE FROM NICHE TO MAINSTREAM TO CREATE REAL IMPACT
  • 24. THE KEY LIES INCRACKINGTHE DEMAND While the regulatory environment is unclear and restrictive, and production and processing technologies are under-developed, these are not the main barriers for insects. These issues will resolve themselves with time and money. However, overcoming these barriers is irrelevant without adequate demand. And this requires cognitive and behavioural change, across both the consumer and industry sectors.
  • 25. STEP 3: COMING UP WITH SOLUTIONS Overcomingthe barriers and activating opportunities
  • 26. So it was clear - edible insects face significant roadblocks. To move forward, this problem was approached as an opportunity rather than a barrier. By asking “what if” and rethinking the direction and possibilities, three strategies were identified to increase the appeal of edible insects. These strategies created the basis for a viable business roadmap framework - a big leap forward to towards making real business with insects!
  • 27. 3 APPROACHES TO CREATE BETTER BUSINESS WITH EDIBLE INSECTS DEMAND & CONSUMPTION PROCESSING & PRODUCTION SYSTEMS & SOCIETY
  • 28. 1. PROVIDE SOLUTIONS Gently nudge people to alter demand and consumer behavior. Remove mental barriers and develop unique selling points to provide solutions, instead of problems. GOOD TASTE,EASIER LIFE, MEANINGFUL LIFE, NEW EXPERIENCES. DEMAND& CONSUMPTION
  • 29. 2. INCREASE EFFICACY Insects are more than just a protein ingredient. They are also great natural bio-converters and waste managers, in the frontline of circular economy. REDUCING COSTS, REDUCING WASTE,MAXIMISING THE USEOF MATERIAL ANDENERGY FLOWS. PROCESSING& PRODUCTION
  • 30. 3. RETHINKPRODUCTION Insects can be grown anywhere – in homes, restaurants, cities, communities, farms – and they have potential to change the systems of food production and consumption. URBAN FARMING, LOCAL FOOD, EMPOWERING CONSUMERS. SYSTEMS & SOCIETY
  • 31. Better business withedibleinsectscannotbe builtinthe traditional ways. Newways of thinkingare imperative to make insectsBIG! The real sustainability business makers are creating disruptive innovations.
  • 32. STEP 4: DESIGNING A BUSINESS MODEL Defining theroadmap for an ecosystem
  • 33. With three possible strategies defined, a plan and structure were needed to progress the mission. How could a young industry best develop forward? How could people come together, to create real business with insects? A business ecosystem – the joining of companies, academia, financers, government, communities, NGO’s and other relevant players – could create an environment where collaboration and disruptive innovations could evolve into better business.
  • 34. PRINCIPLESOF ABUSINESS ECOSYSTEM In order to differentiate a business ecosystem from a standard network, we identified two key principles that need to exist - A clear business focus Things are done with the intention of creating business out of it, whether it’s in the short or long run. An effective work process Geared towards enabling business creation and spawning projects and ventures, big and small.
  • 35. COMPANIES& ENTREPRENEURS FINANCERS ACADEMIA OTHERS(NGOs, government, communities etc.) HOW COULDAN ECOSYSTEM BE ORGANISED? TOMAINTAIN A CLEAR BUSINESS FOCUS, COMPANIES SHOULDBETHE CORE PLAYERS OFAN ECOSYSTEM. AN ECOSYSTEM COORDINATOR WOULDENSURETHE ECOSYSTEM WORKSEFFICIENTLY. ECOSYSTEM COORDINATOR Keepsthe network connectedandmoving forward
  • 36. HOW SHOULD AN ECOSYSTEM WORK? TOENSURETHE ECOSYSTEM WOULDNOT LAPSE INTONETWORKINGWITHOUTACTION, A WORK PROCESS TOAID THEECOSYSTEM PLAYERS WASFORMULATED, TOSTART CREATING PROJECTS AND VENTURES WITHIN THETHREE STRATEGIC AREAS 1 2 3 4 5 INSIGHT INTO OPPORTUNITY VALIDATING THE OPPORTUNITY BUSINESS MODEL PROTOTYPES GOor NO-GO? INVESTOR PITCH TRACK BUSINESS OPPORTUNITY EVENT ONLINE COURSE& COMMUNITY BUSINESS DESIGN LAB PROJECT EVALUATION PREPARING TOLEAP
  • 38. PUTTINGTHEFRAMEWORKINTO PRACTISE The structure and workings of a business ecosystem had been established. It was time to take that thinking forward to formulate the founding ideas of the business ecosystem, by applying the three strategies – DEMAND & CONSUMPTION PRODUCTION & PROCESSING SYSTEMS & SOCIETY
  • 39. WHAT WOULD A MORE SUSTAINABLE AND PROFITABLE FOOD SYSTEM WITH PEOPLEIN THE CENTRE LOOK LIKE? CONSUMERS: Consumers understanding how their food is produced and being able to have influence on it. PRODUCTION: Producers knowing who they produce for and being able to have influence on what happens to their products. DELIVERY: Consumers having access to nutrition in a way that fits their personal needs and preferences. CONSUMPTION: Consumers being able to meet their personal nutritional and culinary needs and preferences. RECYCLING: Consumers and producers understanding what happens to the products at the end of the cycle and being able to ensure that a circular model is enabled. PEOPLE PRODUC- TION DELIVERY CONSUMP- TION RECYCLING
  • 40. WHAT WOULD IT TAKE TO MAKEIT HAPPEN? It would require putting into action values such as transparency, traceability, trust and origin. It would mean changing the dominant system. In practice it could mean the following actions for people throughout the system – whether they are producers, consumers or business people: TRANSPARENCY, TRACEABILITY, TRUST ANDORIGIN Increasing knowledge and emotional desire to make more sustainable choices Creating solutions that would make sustainable choices easy, self-evident and automatic Empowering people to realise that the potential for change lies within them
  • 41. CANWE MAKEALLTHIS HAPPEN THROUGH INSECTSALONE? Edible insects offer one solution to sustainable protein production, but so do many other sources. And of course protein is just one piece in the puzzle of sustainable consumer-centric food systems. Maybe edible insects offer too narrow a perspective for the ecosystem?
  • 42. JUST ONE PIECE OF THE BIG PICTURE This project started out from charting the business potential of edible insects and the possibilities for creating a business ecosystem in Finland around edible insects. While there undoubtedly is business potential with edible insects both globally and in Finland, it started to become evident that the field is just too small and narrow for an entire business ecosystem on its own.
  • 43. BROADERHORIZONNEEDED Edible insects were starting to look more and more like a pilot case – one interesting example of how sustainable, consumer-centric food systems can happen. But the overall picture is so much bigger. To continue from here, it was necessary to climb a bit higher and broaden the horizon. All of this lead to the concept of the Future Food Quest.
  • 44. FUTURE FOODQUEST Future Food Quest is a mission. A call to action for anyone passionate about changing the way food is produced and consumed – and actively helping to transform food production through the principles of Better Business.
  • 45. FUTUREFOODQUEST The Future Food Quest is based on premises such as - Look beyond what exists to today, to start seeing future possibilities Bring different viewpoints together. Challenging the current model and employing blue sky thinking. Start asking “what if”, “why not” and “what else could be”?
  • 46. THE PROJECT OUTCOMES Bringing peopletogether through newways of thinking
  • 47. This project had clear objectives. But by its nature, the project had wider reaching benefits – • Helping to change current mindsets and encourage new ways of thinking • Empowering others and providing tools to start taking action themselves • Fostering a collective mission around insects, helping to form a basis for a sustainable food business ecosystem
  • 48. RECAP:WHAT DIDWE FINDOUT ON THE JOURNEY? We can’t continue producing and consuming food the same way as before There is great potential and big opportunities with edible insects In Finland it’s still a niche industry (not to say it’s huge anywhere else yet) The hurdles are big for the industry to develop business- wise Edible insects are just one solution - we need to broaden the horizon We need to go on a greater mission to create wider change – we need a Future Food Quest!
  • 49. PROJECT OUTCOME: DELIVERING THE INSIGHTS Insight reports were developed through a comprehensive market analysis on how the global edible insects industry looks like today - and key consumer trends driving opportunities. Market Forces Analysis Report Industry Forces Analysis Report Opportunities Analysis Report Trend brief: Protein Boom Trend brief: Green & Healthy *To be released January 2017
  • 50. PROJECT OUTPUT: ENGAGING CONVERSATIONS Various communication channels were used to create conversations to engage more people with insects and sustainable food systems, as well as find new viewpoints. Personal conversations (meetings, phone calls), email newsletters, social media including Twitter and Facebook were all utilised. INADDITIONTOEDIBLEINSECTS,THECOMMUNICATION THEMESCOVERED VARIOUSOTHERTOPICSAROUNDSUSTAINABLEFOODSYSTEMS.
  • 51. PROJECT OUTPUT: ENABLING COLLABORATION In August 2016, a Business Opportunity Event was held at Wiurila Manor House in Salo, Finland. The event was a mixture of a seminar and a workshop. The focus was on presenting some of the findings from the market analysis, as well as working in smaller groups to discuss the various business opportunities related to edible insects. There were 36 participants in the event from different types of organisations, including insect companies, other food industry companies, research organisations and regional development organisations.
  • 52. PROJECT OUTPUT: SHARING THE OPPORTUNITIES To present and share the business potential of edible insects in a concise manner to a wide audience, a white paper was created - “Making the unwanted desirable - unlocking the commercial potential of edible insects” ANYONEINTERESTEDINTHEBUSINESSOF EDIBLEINSECTSCANFREELY DOWNLOADTHEWHITEPAPERONOURSLIDESHARECHANNEL This whitepaper was featured at HiEUROPE 2016and offered to allexhibition visitors
  • 53. PROJECT OUTPUT: ENCOURAGING NEW THINKING To encourage and empower new thinking, live sessions on edible insects were presented at several conferences, including HiEurope 2016 conference in Frankfurt. To further share the message, a presentation snapshot was created and shared through Invenire and HiEurope social media channels, and in connection with World Edible Insect Day. ANYONEINTERESTEDINTHEBUSINESSOF EDIBLEINSECTSCANFREELY VIEW THEPRESENTATIONSNAPSHOTONOURSLIDESHARECHANNEL “Making theunwanted desirable” at HiEurope Slideshare presentation LinkedIn article
  • 54. PROJECT OUTPUT: PROVIDING TOOLS To share the market analysis, insights and strategic thinking developed through the project, an online learning course is being created via Teachable.com. Targeted to help people make real business with edible insects, the course will include presentation videos, the insight reports, infographics and practical exercises to help viewers develop their own business ideas with insects. BENEFITS • Easierand moreinteresting to delivermarketanalysis • Helpcompaniesturnaction intoinsight • Helpcreate a community aroundedibleinsects
  • 55. IMPACTINGTHE OPPORTUNITY MINDSET “Your thinking has a lot of truth in it. There are some innovations under development that could be the kind of game-changer you suggest is needed. But generally at the moment we lack a really delicious high-insect food product. Most are just about as good as non-insect equivalents but with added smugness. We need to challenge people to come up with this, as you say there are lots of links in the chain that need to come together.” – International edible insects business expert The project demonstrated the opportunity mindset necessary to create better business. The project named and addressed the key roadblocks for insects as well as suggested solutions. It demonstrated how to see roadblocks as opportunities, and formulate radical new ideas and solutions.
  • 56. ESTABLISHING A SYSTEMATIC APPROACH TO ACTIVATE OPPORTUNITIES “Finnish agriculture and food business are facing a challenging situation. Climate change, saving the Baltic Sea, as well as the protection of biodiversity call for a new way of thinking and new ideas for companies. Now we need new thinking in order to build a truly sustainable future food business. Invenire is an excellent partner in this work. - major Finnish primary producer & influencer The project established a broader mission, the “Future Food Quest”, to accelerate Better Business across industry Creating better business ultimately requires real actions. The Future Food Quest combines the approaches tested in the project, as a systematic way industry can act on future opportunities to better our food system.
  • 58. THE NEXT STEP: TRYING TO GAIN MORE MUSCLE Better business is not something anyone can create out of thin air, or on their own. Partners, money and other resources are needed for the journey. So Invenire applied for funding from Tekes to start building a business ecosystem around the concept the of Future Food Quest.
  • 59. A ROAD- BLOCK... We didn’tgetthat funding. Are wegoing to give up on Future Food Quest? Definitelynot.
  • 60. HOW TO MOVE FORWARD? What’s the next step from here? The dream remains the same. By rethinkingprioritiesand applyinga strategic, adaptive mindset, we’llfind other ways toprogress theFuture Food Quest.
  • 61. CHOOSINGTHEFIRSTPRIORITY People. People are the key to a wider change in the way the global food system works. So people will be the first focus.
  • 62. Action1 CONTINUING THE CONVERSATIONS To demonstrate opportunities and encourage action
  • 63. Action2 ESTABLISHING ONLINE LEARNING To provide tools for leaders to take the first steps
  • 64. Action3 ESTABLISHING A BIGGER PROJECT ON CONSUMER- CENTRIC THINKING To help leaders create thriving businesses through delivering meaningful consumer solutions
  • 65. Itis about US. Whatkind oflegacydo wewant to leave? Ultimately, it’s all about people
  • 66. Join the next chapterin the journey! Helpus makebetter business with consumer needsat the core It is also about business that can thrive in the long term
  • 67. INTHE END,WE HAVEONLYTHIS PLANET... We have to find better ways of living and help preserve our world for generations to come.
  • 68. START WITH A DREAM Anything is possible Imagine a bright future where people are happier and the planet is healthier. A future where sustainable living is commonplace and we all have become better stewards of the planet.
  • 69. We can changethe world. The momentwe decidethat somethingis important is themoment we start to lead. What legacy do you want to leave the world?
  • 70. GET IN TOUCH WITH US! www.invenire.fi | doorbell@invenire.fi | +358 40 8228 848 www.shoutaround4food.com #BetterBusiness #ThrivingFoodSystems #FoodCitizenship #circularity #regeneration INSIGHTS & UNDERSTANDING | STRATEGY, CONCEPTS & BRANDS | TALKS & WORKSHOPS © Copyright INVENIRE MARKET INTELLIGENCE LTD 2020 WE’REA MAKING-THINGS-HAPPEN AGENCY We work within food, nutrition & related fields. Whether you’re a farmer, ingredient company, food maker, research organisation or industry association, our job is to help you make better business.
  • 71. As CMO of the Future, we empower Leaders to make change happen. Better business for People Planet and Profit. Through excellent Design, Strategy and Conversations, we help Leaders act on their values and purpose. Together we craft innovative business strategies that enable profitable growth with sustainability at the core. We create impact that matters. HEALTH. HAPPINESS. RESPONSIBILITY. EMPATHY. CREATIVITY. EFFECTIVENESS. doorbell@invenire.fi | www.invenire.fi | DK +45 2938 6104 | FI +358 44 5820 088 © Copyright INVENIRE MARKET INTELLIGENCE LTD 2016