A Kiwi biotech startup that seeks to reduce emissions generated from dairy has become the first recipient of Nous, a new multi-million dollar support fund for social enterprises built by Ethique’s founder Brianne West.
Nous is a new organisation that aims to provide mentorship coaching, funding, and marketing support for environmentally and socially focused startups.
West said she launched the “Got Nous” competition during the first stage of the initiative’s launch to help raise awareness of the challenges faced by social enterprises.
Five hundred businesses entered the nationwide competition where they were asked to present their idea to an expert panel – including identifying the social or sustainability problem they seek to solve and how they can achieve it.
Based on the “high number of entries”, West says it is clear there is a “chronic lack of support infrastructure” for social enterprises.
The winner, Daisy Lab, is a startup established by Auckland University’s genomics lead, Dr Nikki Reed, research scientist Emily McIsaac, and former industry consultant Irina Miller. It uses “precision fermentation technology” to “train” microorganisms to produce casein and whey to develop bio-identical, alternative dairy products like ice cream, butter, and cheese.
McIsaac explained that data suggests precision fermentation could reduce the emissions from producing a kilo of cheese by up to 97 per cent – compared to traditional cow’s milk.
“While we have had significant support and interest from investors and innovation funds, this is the first brand and product mentoring program we will enter.”
She added the company is mainly a “scientific team” with expertise focused on product development and consumer specialists will help take the products to domestic and international markets.
“While we have had significant support and interest from investors and innovation funds, this is the first brand and product mentoring program we will enter,” said McIsaac.
Meanwhile, West says analysis of the entries shows many Kiwi startups are looking to enter the alternative proteins market.
“We know that social enterprises operate using a distinctively different model from traditional ‘profit-first’ businesses,” she added.
“It is critical that more is done to support these businesses, not simply through the provision of financial aid but more importantly by offering the structured guidance needed to navigate the unique set of challenges they face.”
West said Ethique is looking to extend the mentoring program and develop scholarships.
Launched in 2012 Ethique is a New Zealand-based beauty and lifestyle company, available in 24 markets and in more than 6500 retailers worldwide. Since its inception, the company has prevented the manufacture and disposal of more than 25 million plastic containers worldwide with the goal of stopping 500 million by the end of 2030.
