The strategic partnership will see CSM work alongside URIKA, a venture and innovation partner that represents multinational agri-food companies in the Israeli ecosystem. The new innovation hub will be located in Tel Aviv.
CSM said the approach will help ‘generate value’ by identifying growth opportunities and increasing collaboration to start-ups and scientific labs working on ‘cutting edge technology’. The aim is to generate M&A and investment opportunities in order to develop ‘future growth engines’, the ingredient group revealed.
“At CSM Ingredients, we work tirelessly to identify new and existing opportunities based on emerging and growing trends through open innovation. As such, we are thrilled to be partnering with URIKA and launching an Open Innovation Hub in Israel,” CSM CEO Aldo Uva commented.
“Through a collaboration with such a strategic partner our company will continue on its Net Positive journey to push boundaries through disruptive solutions for both the traditional and new food segments,” he added.
Becoming a ‘net positive’ tech platform
The innovation hub aims to increase CSM’s collaboration with the Israeli food tech ecosystem, with the aim of both ‘discovering new ingredient technologies’ and ‘improving existing ones’. CSM hopes the approach will create ‘disruptive solutions’.
Indeed, part of CSM Ingredients’ core strategy is to become a ‘net-positive ingredient tech platform’ with research & innovation as one of the core drivers.
Ilanit Kabessa, Managing Partner, URIKA stated: “We are proud to work with CSM Ingredients and join the Company’s visionary journey to the future of food technologies. As a major player in the ecosystem, CSM Ingredients is leading the industry to a better future, and URIKA is honored to be a strategic partner”.