Meeting the team for Grey Silo Ventures’ 2nd anniversary: Roberto Reniero
Two years after the birth of Grey Silo Ventures, let’s look in the rearview mirror of the activities carried out, the developments in the food tech sector, including risks and opportunities, and the upcoming challenges to be faced.
In this first interview, we delve into the value proposition of Grey Silo Ventures and the strategies that guide it in finding out new innovative companies in Ag-tech and Food-tech fields, together with Roberto Reniero, member of the Advisory Board.
- How does Grey Silo Ventures differentiate its investment strategy within the food-tech and ag-tech sectors compared to traditional venture capital firms, considering the unique challenges and opportunities these industries present?
GSV has the advantage of being not just a VC, but a Corporate VC linked to Cereal Docks Group, a 40-year-old company well known for its reputation and values. The startups that are selected after our thorough evaluation process will have the undeniable advantage of profiting not only of the business & technical knowledge of GSV and its advisory board but also of the long-lasting experience of Cereal Docks Group. All together it will enable our startups to scale faster and build a profitable business earlier.
- Could you discuss a recent successful investment or partnership within the food-tech and ag-tech sectors that Grey Silo Ventures has been involved in, and what factors contributed to its success?
I think the choice to invest in digital farming and in X-Farm was right on spot and a real strategic fit. Personally, I supported the investment in Nosh Bio. They have a simple but smart idea to ferment non GMO fungi to produce nutritional and functional proteins that can be added to several food formulations while maintaining clean label which is highly appealing to consumers.
- What are in your opinion some of the most promising technologies within ag-tech and functional ingredients that could make the biggest impact on the current food systems?
We have been talking for years about nutrition, food as the first medicine, diet, personalised nutrition, etc. They are all relevant areas, but I believe there is more to be done upstream on sustainable/regenerative/resilient farming. Moreover, we should find brilliant new ideas to tackle food waste which is tightly linked to harvesting and supply chain.
- What are the fundamentals pillars and characteristics that an early-stage company in agri-food tech should mandatorily have in 2024 in order to secure funding and keep growing?
Team. Not only members’ education and experience but a good balance of competences needed to achieve their goals and good team dynamics.
Validated innovative idea. It doesn’t mean necessary a patent but let’s start with what new the early-stage company can bring to the table.
An ambitious but realistic plan. This includes not only financial and technical/IP, but the people/competences you’ll have to bring along in your journey.
