LEAP Conference 2020: Is lab-grown meat the future?

At the recent Livestock, Environment and People (LEAP) Conference with the University of Oxford, I was very interested to hear about the benefits of lab-grown or cultured meat in a talk by Professor Burkhard Schafer. I also found Professor Schafer’s discussion of some of the issues in bringing cultured meat products to the market highly illuminating. Cultured meat can be grown through the replication of a small number of animal cells to produce a meat product that is the essentially same as a conventional meat product in all but its source. This brings with it the benefit of bringing no harm to any animals in the making of the product. Additionally, this also brings the benefit of reducing the risk of disease transfer between animals and humans (a process known as zoonosis) which as I am sure you are aware is now a particularly important concern – the world having experienced the dangers this can bring. Research has also suggested that lab-grown meat could have health benefits, with the potential for products with no saturated fat or growth hormones - important considerations to note given the current strains on global healthcare systems. Although currently produced on a small scale at eye-watering cost, if the process of producing cultured meat can be industrialised it would also have the potential to solve food shortages. Despite the wide range of benefits that cultured meat could bring, Professor Schafer also identified a number of possible barriers that these products may meet in coming to the market. For example, the religious and cultural conventions associated with meat, possible health and safety concerns, and the likely stubbornness of the conventional meat industry are all likely to be at issue. In the case of the latter, a similar issue was seen when margarine was first brought to the market in the late 19th century and it seems likely similar resistance would be met here. After this talk, I’m fascinated to see how the technology in this sector progresses to allow for mass production of cultured meat products, and also how the potential barriers to the market are overcome.

Is GreenTech a ‘New Industrial Revolution’?

As an early investor in both the healthcare and biotech sectors, I am always on the lookout for good opportunities to support early stage companies utilising the latest advancements in technology, for example the application of Artificial Intelligence (AI) and machine learning – to improve the health and wellbeing of people across the world. My focus when I first invested in these areas was to support companies whose mission is to help people live longer and healthier lives; and this remains my focus today. Although our portfolio is predominantly focused on healthcare, I’ve long been an advocate for the powerful convergence of technology and science to unlock the potential to make real improvements to the environment, and this will be an area I look forwards to closely following in the coming months. Green technology is a fast-growing area of investment, covering areas such as waste recycling, marine solar, water purification and reuse, energy storage for solar and wind energy, autonomous greenhouses and renewable hydrogen as a fuel source. It's also about innovating the tech that underpins clean energy production such as solar and wind, part of the essential drive to move us away from our deeply damaging global dependence on fossil fuels. The market is still relatively young, but forward-thinking venture capitalists have seen the opportunity, financially and sustainably. A white paper, published today, indicates the Government is beginning to catch up with both the environmental and market demand, realigning its priorities to rebuild the economy with a focus on tech such as innovations to capture and store carbon dioxide, hydrogen fuel cells and offshore wind farms — as well as exploring the potential of artificial intelligence. Boris Johnson built his 2019 election campaign around a promise to help underperforming regions in the UK and this new industrial strategy with its emphasis on green tech is seen as one way to help level the playing field. The future of sustainable societies is inextricably bound up with the ability to create integrated and effective change using all of the talent and innovation we have available. New perspectives are crucial — at all levels. It’s not enough to have national economic growth if local economies are shrinking and concentrating on flattening regional inequality underlines the recognition that a green recovery from coronavirus can't be achieved in just one place. The UK needs investment across every part of the country to boost productivity and this includes looking beyond London to industry centres such as Manchester and Birmingham, as well as the science and technology corridor between Oxford and Cambridge. And for tech start-ups working on green initiatives in underperforming regions and looking for investment, this top-level shift could light the fire under a rocket of innovation that is currently still on the launchpad. Is it a ‘new industrial revolution’? Perhaps not yet. But with a concerted change in industrial strategy that prioritises green tech it’s a chance to rebuild our economy nationally and locally with bricks of opportunity in vital areas such as clean energy, infrastructure and transport. Short-term it can help us to rebound practically from a year of economic and social challenge and restore faith in our ability as a country to create and sustain healthy growth, in the long-term it may prove to be the investment with the biggest return of all — a sustainable, resilient society with a more equal investment in and opportunity for all. Nicole Junkermann is an international entrepreneur and investor, and the founder of NJF Holdings, an international investment company with interests in venture capital, private equity, and real estate. Through NJF’s venture capital arm (NJF Capital), Nicole oversees a portfolio similar in size to a small venture fund across Europe and the US, including in healthcare, fintech, and deep tech.