It may seem strange that there is still a problem with world hunger in 2023, given how far humanity has advanced in terms of technology and inventiveness. Around 750 million people were exposed to extremely high levels of food insecurity , and it is estimated that close to 690 million people worldwide are food insecure.
This is without accounting for the COVID-19 pandemic’s effects, which could increase the number of undernourished individuals to 83–132 million.
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Malnutrition affects over one in ten people worldwide, with Asia and Africa having the highest rates. Given the connection between hunger and poverty, it is not surprising that those making the World Bank’s poverty threshold of $1.90 per day cannot afford to buy food as 50 to 70 percent of their income would be spent on it.
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The majority of developing nations, which are frequently embroiled in political unrest and have high unemployment rates, are dependent on food imports, which drives up the price. Taking all of this into consideration, current projections indicate that not only will hunger not be eliminated by 2030, but it will also top 840 million, or over 10% of the projected global population.
The tiny farmer is where it all begins.
The unsustainable nature of the world food supply system is another problem. The Journal of Sustainable Agriculture published an article claiming that food production has increased and is now sufficient to feed 10 billion people.
However, about a third of that food is lost or squandered, whether as a result of production, transport, storage, or other problems. Nearly 40% of food waste in underdeveloped nations happens early in the food value chain and is attributed to technical and budgetary limitations. Producers must increase prices for consumers to cover their costs given the high risks involved in production.
The foundation of agriculture in rising economies is small-scale farming, with their proportion in the overall number of food producers varying from 40 to 85% depending on the nation. According to Seedstars, technology must be used as a tool to enhance the entire value chain of agriculture and food, from bettering operational procedures to facilitating farmers’ access to markets and loans.
We collaborate with both public and commercial partners to support and fund entrepreneurs who are using technology to build more sustainable food systems and, ultimately, end world hunger.
A collaboration to promote innovation
To highlight some of the most cutting-edge FoodTech and AgriTech firms addressing some of the problems in the global food chain, we have partnered with the canton of VAUD in Switzerland.
Since Nestlé’s founding in 1905, the canton has led the way in food and agricultural innovation. It has also excelled in entrepreneurship, with a quarter of the top 100 Swiss startups having their headquarters in Vaud.
Since then, the Swiss Food & Nutrition Valley has been established as a result of national recognition of the use of technology as a future solution. The initiative’s goal is to foster, strengthen, and promote food innovation in a setting that brings together leading international corporations and innovative startups. The following strategic platforms are being created as part of the initiative:
Alternative sources of protein, precision nutrition, healthy aging, food systems 4.0, precision agriculture, and environmentally friendly packaging.
The Swiss Food & Nutrition Valley is hosting the first International Food Innovation Conference, where new technology and business models will be addressed, in recognition of the significance of innovation in building a more sustainable food chain.
The canton of Vaud supports foreign firms in establishing a presence in the canton as well as the establishment and growth of regional businesses.
Conclusion
The 17 worldwide Sustainable Development Goals (SDGs) were created by the UN in 2015, and Seedstars has chosen to classify our portfolio firms according to how closely they adhere to these goals. We make use of these SDGs to direct business impact goals and measure their effectiveness. Eight percent of the businesses backed by Seedstars International Fund 1, our first global seed stage fund, are dedicated to the second SDG, Zero Hunger.
