Innovative solution: Cell-based meat

Background: Singapore is the only market in the world that approved cell-based meat. The latest news is that Upside Foods is set to get USFDA approval. More investment is going into cell-based meat. The industry is very new. The costs of technology is high. 

Article on Upside foods
https://www.alt-meat.net/upside-foods-receives-us-fda-approval-cultivated-meat?oly_enc_id=6577J8199945B3A
Product: Incremental change would be better and more responsibly produced animal meat; Radical product innovation is taking animal cells without killing and grow meat in labs. 

Process: Animal products production process is extremely inefficient. Incremental change would be to raise more poultry than cattle as chicken’s FRC (Feed Conversion Ratios measure the amount of feed/crops needed to produce a unit of meat) is lower than beef. Radical innovation would be taking land, water, feed/crops for traditional animal farming out of the equation and fundamentally change the process of production. 

Position: The market positioning would not be “do not eat meat” making consumer feeling deprived of something. Rather, eat meat without the killing of animals. 

Paradigm: The company’s mental model changes as the business model and the value proposition changed to solve climate-related physical and transition risks and to take on the opportunities to improve resource efficiency and tap into new markets’ segments. 

-Yang Bu, Singapore