EIT Food

EIT Food is a leading pan-European consortium dedicated to transforming the food system into a healthier, more sustainable, and trusted sector. As one of the Knowledge and Innovation Communities (KICs) established by the European Institute of Innovation & Technology (EIT), EIT Food brings together a diverse network of over 200 partners, including universities, research centers, and businesses, across Europe. Headquartered in Leuven, Belgium, its core mission revolves around fostering innovation, educating talent, and creating new businesses to address global food challenges, from sustainable agriculture to consumer health and food waste.

Unlike traditional venture capital firms, EIT Food primarily supports early-stage agrifood startups and entrepreneurs through a portfolio of grant-based programs and acceleration initiatives, rather than direct equity investments. Their financial support is often equity-free, designed to de-risk innovative ideas and help ventures validate their concepts and scale. Key programs include the EIT Food Accelerator Network (FAN), which provides selected startups with an initial equity-free grant of up to €10,000 (approximately $10,800 USD) and the potential for follow-on funding up to €100,000 (approximately $108,000 USD) for top performers. Another significant initiative is the Seedbed Programme, offering early-stage ventures up to €6,000 (approximately $6,480 USD) for market validation.

Beyond direct grants, EIT Food plays a crucial role in connecting promising startups with a broader network of private investors through platforms like its Venture Centre of Excellence. This approach aims to bridge the funding gap for agrifood innovators by preparing them for external investment and facilitating introductions. Since its inception in 2017, EIT Food has made a substantial impact, supporting over 1,000 startups and entrepreneurs across Europe. Furthermore, the organization has invested over €100 million in innovation projects and startups, underscoring its commitment to driving systemic change within the food sector. Its focus on collaboration, education, and non-dilutive funding positions EIT Food as a unique and influential player in the European agrifood innovation ecosystem.