Second edition of Fastlane: successful completion

The second edition of the Fastlane programme set up by Invest-NL and Foodvalley NL ended last Thursday (8 September). After a good first edition, Invest-NL and Foodvalley NL reflected on the success of the second edition.

Early this year, six companies were selected to take part in this edition of the programme. This edition involved exploring the company's potential to grow into a successful scale-up in order to accelerate transition to a more sustainable food chain.The participants and their different technologies and innovations:

1-2 Taste: platform for purchasing plant-based ingredients in order to encourage the development of meat alternatives and plant-based products
Health Food Wall: a 100% plant-based 'Food Wall' for quick, healthy meals
AgXeed: an agricultural robot that can perform repetitive arable work while preventing soil compaction
Corvus Drones: an autonomous drone developer to fully digitalise horticulture
Time Travelling Milkman: creamy, healthy, sustainable fat ingredients for improving the texture of dairy alternatives.
Verdify: a platform developer for personalised recipes

These companies took to the stage at the Volkshotel in Amsterdam to give a three-minute pitch on the 'giant leaps' they have gone through during the programme. The audience chose Time Travelling Milkman as the winner of the audience award. This company managed to make the most progress.

Participants on the Fastlane programme

Anouk Snelders, Founder of Health Food Wall:

'We lacked the crucial building blocks that enabled us to grow from a start-up into a healthy scale-up, and the programme gave us the confidence that is now at the core of our existence. From the beginning of the programme, Health Food Wall considered a variety of key issues. Thanks to Fastlane, we were able to establish our success factors and develop our branding and identity. Thanks to the focus that the programme has given us, we have managed to expand our machinery from 13 Health Food Fridges to a projected 70+ Fridges this year. Our expected revenue growth this year has also risen to 625%! Growth doesn't just look good on paper – establishing a clear story and strategy allows us to enhance our impact. During the programme, we were privileged to receive several nominations including a spot in the Food100 2022 list and the Best Practice Award at the Vegetable Congress 2022.'

Jasper Schouten, Founder 1-2-Taste:

'We joined Fastlane due to the growth stage that the programme focuses on: between start-up and scale-up. During the programme, we worked with experts to scrutinise the critical processes at 1-2-Taste and prepare us for the next stage in our growth. The programme has developed the team by working on our value proposition and its associated processes and connecting us with multiple investors. It has strengthened our belief in what we do. The future is all about execution and growth.'

The Fastlane community continues to grow

In 2021, Invest-NL and Foodvalley developed the Fastlane programme in order to increase the chances of success for food and agri start-ups and help them accelerate their growth. A multidisciplinary team of experts helps young companies by providing coaching and mentoring to help them grow faster and avoid common pitfalls. This makes it easier for them to attract the right investors. So far, 75% of participants have managed to attract funding during or following completion of the programme.

During the second edition of the Fastlane programme, PYMWYMIC became a new partner of the programme. PYMWYMIC is an impact fund that invests in impact-driven companies and focuses on increasing sustainability within the food chain. The Fastlane partner network also includes Rabobank, Shift Invest, RVO, The Yield Lab, Future Food Fund, ISPT, Peakbridge Capital and Techleap.

Ten companies have now participated in Fastlane since the programme's launch. Given the strong interest from young companies in participating in Fastlane, a third edition is set to begin in late 2022.

Sign up for third Fastlane edition

Interested in becoming a partner of the Fastlane community? Or, if you're an entrepreneur, do you want to participate in a third edition of Fastlane? Let us know!

'A diverse group of companies participated in the second edition of Fastlane. From a plant-based food ingredient to an autonomous field robot, Fastlane promotes emerging innovations that contribute to a healthier, more sustainable food system. We are very excited to meet the new group of agrifood pioneers during the third edition of the programme'

Michiel Strijland, business development manager AgriFood, Invest-NL