Rimon Fund Newsletter - May 2021
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>Rimon</strong> Initiative<br />
NEWSLETTER | <strong>May</strong> <strong>2021</strong><br />
CONTENT<br />
<strong>Rimon</strong> Philanthropic Investment Initiative<br />
Update<br />
UPDATE<br />
THANK YOU for your interest and support of the<br />
<strong>Rimon</strong> Philanthropic Investment Initiative, an<br />
innovative program from American Friends of the<br />
Hebrew University (AFHU) in partnership with the<br />
Hebrew University of Jerusalem (HU); Yissum, the<br />
university’s technology transfer company; and ASPER<br />
HUJI-Innovate, the university’s center for innovation<br />
and entrepreneurship. We are delighted to announce<br />
we are more than halfway to our $500,000 goal.<br />
To date, we have raised $300,000 for the <strong>Rimon</strong><br />
Philanthropic Investment Initiative, and we look<br />
forward to completing the goal so that we may<br />
formally launch the initiative.<br />
Thanks to your generosity, the <strong>Rimon</strong> Philanthropic<br />
Investment Initiative will target local entrepreneurship<br />
at the nexus of Israel’s innovation economy, the<br />
Hebrew University of Jerusalem, and deliver<br />
broad impact using rigorous processes of capital<br />
deployment and expert management. Your gift will<br />
translate to concrete venture creation activities<br />
resulting in impactful startups in Israel and beyond.<br />
The <strong>Rimon</strong> <strong>Newsletter</strong> is an occasion to share news,<br />
updates, and reports from our strategic partners in<br />
Israel. Through this newsletter and beyond, we will<br />
continue to share opportunities and access as they<br />
become available. Thank you again for your support,<br />
and happy reading!<br />
Yissum Annual Report<br />
Interview with Future Meat CEO, Rom Kshuk<br />
ASPER-HUJI Innovate Update<br />
Webinar - Invest in Israel: <strong>Rimon</strong> Philanthropic<br />
Investment Initiative recap and recording<br />
<strong>Rimon</strong> on Demand<br />
<strong>Rimon</strong> Spotlight - Dr. Beno Michel<br />
YISSUM ANNUAL REPORT<br />
Yissum is the Technology<br />
Transfer company of The<br />
Hebrew University of Jerusalem.<br />
Yissum provides management<br />
and infrastructure to the <strong>Rimon</strong><br />
Philanthropic Investment<br />
Initiative. Click here to read<br />
Yissum’s 2020 Annual Report.<br />
Laura Abrams, Leadership Development Director<br />
AMERICAN FRIENDS OF THE HEBREW UNIVERSITY<br />
7777 Glades Road, Suite 401, Boca Raton, FL 33434<br />
Tel. 561.948.3344 | Fax 561.750.8292<br />
labrams@afhu.org | AFHU.ORG
<strong>Rimon</strong> <strong>Fund</strong><br />
NEWSLETTER | <strong>May</strong> <strong>2021</strong><br />
INTERVIEW WITH FUTURE MEAT CEO, ROM KSHUK<br />
Meat has been an integral part of our culture since the dawn of humanity. We crave meat, celebrate<br />
it, but its production is becoming unsustainable. Animal agriculture utilizes over 80% of the world’s<br />
habitable land, 30% of our fresh water supply, and is a major driver for deforestation. Growing<br />
population and dietary changes are predicted to lead to scarcity and escalating prices. Future Meat<br />
Technologies meets this challenge by advancing a cost-effective solution for cellular agriculture,<br />
that is scalable and sustainable by design. Our animal-free meat does not compromise on nutritional<br />
value, aroma, or flavor. We believe in a future in which our children eat the same food we enjoyed<br />
growing up.<br />
Founded by Hebrew University’s Professor Yaakov Nahmias, director of the Grass Center for<br />
Bioengineering at HU, we had a chance to sit down with Future Meat CEO, Rom Kshuk, for an<br />
inclusive <strong>Rimon</strong> interview.<br />
Future Meat is driven by a passion to develop a delicious and nutritious food product; a costefficient,<br />
price-competitive product that can meet the rising global demand for meat protein; food<br />
that can provide consumers the taste and sensory experience of meat without harming animals or<br />
the environment. Developed from research conducted at Professor Yaakov Nahmias’s bioengineering<br />
lab, Future Meat employs a unique biological approach using connective tissue and modifying<br />
without using GMOs. The production process uses an engineering approach that allows Future Meat<br />
technicians to recycle nutrients and optimize the products’ nutrient composition.<br />
The meat industry is currently valued at $1.2 trillion, with projections of $1.6 trillion in 20 years.<br />
However, the coronavirus pandemic revealed serious problems in the meat processing industry as<br />
well as weaknesses in the supply chain. Combined with a growing world market for meat products<br />
and a growing market in Europe and America for quality meat replacements, there is a clear<br />
opportunity for Future Meat to become successful.<br />
While Future Meat has secured over $40 million in funding from several noted investors, including<br />
Tyson, Rich’s, ADM, and Muller, has developed a strategic partnership with Emerald, and a joint<br />
development agreement with Nestle, it is focusing on maintaining its independence and is seeking<br />
$200 million in funding for this phase of development.
<strong>Rimon</strong> <strong>Fund</strong><br />
NEWSLETTER | <strong>May</strong> <strong>2021</strong><br />
Future Meat anticipates a U.S. product launch in 2022 from a U.S.-based factory producing readyprepared<br />
chicken-substitute products like nuggets, patties, etc. Future Meat has been speaking with<br />
US regulatory authorities for the past year, and with the proper funding, foresees a successful U.S.<br />
launch. Future Meat’s goal is to capture a market share of $500 billion in the next 20 years. In the next<br />
round, investment opportunities would start at $5-10 million per person, and Future Meat would be<br />
happy to work with investors associated with <strong>Rimon</strong> or the Hebrew University.<br />
The potential to explore new business opportunities through the care and feeding of exciting new<br />
Israeli start-ups was the impetus behind the <strong>Rimon</strong> Philanthropic Investment Initiative. Future<br />
Meat is a prime example of the interdisciplinary alchemy of research, technological development,<br />
and business development found at the Hebrew University. With a gift to the <strong>Rimon</strong> Philanthropic<br />
Investment Initiative, donors will continue to have unique opportunities to see promising start-ups as<br />
they form, offering the potential to future investment as they become available to the public.<br />
ROM KSHUK, CEO<br />
Rom Kshuk is an Israeli innovator and<br />
entrepreneur with over 10 years of experience<br />
in food and agriculture technology, business<br />
development as well as R&D management.<br />
Prior to joining Future Meat Technologies,<br />
Kshuk was VP of Business Development at<br />
Yissum, the Hebrew University Tech Transfer<br />
company. Before that, Kshuk was Director<br />
of Business Development at Evogene (NYSE:<br />
EVGN), R&D company for improving crop quality<br />
and productivity. In 2011, Kshuk headed the<br />
operations and business development for Oplon<br />
Pure Science, a developer of antimicrobial<br />
coatings for food applications. In 2007, Kshuk<br />
co-founded Green Life Café, a developer of<br />
coffee alternatives based on date kernels.<br />
Kshuk’s academic background is in Computer<br />
Science, Chemistry, and Biology.
<strong>Rimon</strong> <strong>Fund</strong><br />
NEWSLETTER | <strong>May</strong> <strong>2021</strong><br />
ANNOUNCING ASPER-HUJI<br />
INNOVATE!<br />
ASPER HUJI-Innovate,<br />
the Hebrew University<br />
Center for Innovation and<br />
Entrepreneurship, provides<br />
a platform to encourage<br />
and assist students, faculty<br />
and alumni to develop<br />
their innovation and<br />
entrepreneurship skills. The<br />
Center serves as a catalyst for<br />
venture creation processes<br />
to solve real-world problems.<br />
Read more about this <strong>Rimon</strong><br />
partner here.<br />
Watch HUJI-Innovate’s Demo-<br />
Day event, and get to know<br />
the Hebrew University’s<br />
up & coming ventures and<br />
entrepreneurs.<br />
RIMON ON DEMAND<br />
Webinar - Invest in Israel: <strong>Rimon</strong><br />
Philanthropic Investment Initiative<br />
recap and recording.<br />
Dr. Itzik Goldwaser, Yissum CEO,<br />
recently joined us for an exclusive<br />
webinar to discuss the <strong>Rimon</strong><br />
Philanthropic Investment Initiative.<br />
JOIN OUR NETWORK<br />
<strong>Rimon</strong> Philanthropic Investment<br />
Initiative donation page.<br />
Share the <strong>Rimon</strong> Philanthropic<br />
Investment Initiative with your<br />
network. Visit the <strong>Rimon</strong> website.
<strong>Rimon</strong> <strong>Fund</strong><br />
NEWSLETTER | <strong>May</strong> <strong>2021</strong><br />
RIMON SPOTLIGHT - DR. BENO MICHEL<br />
My commitment to <strong>Rimon</strong> was inspired by my experience as Chairman of the Translational Council<br />
at an American medical school. Philanthropic funds were used to support young scientists to do<br />
the critical experiments needed to determine whether their scientific discovery had commercial<br />
potential.<br />
The return on investment was more than tenfold in the form of additional grants, corporate licenses<br />
and the creation of start up companies.<br />
I am excited about the <strong>Rimon</strong> Initiative because I believe that it will help generate new knowledge<br />
and the creation of new, vibrant young companies that will benefit the Hebrew University, Israel and<br />
humanity.<br />
Dr. Beno Michel<br />
Elaine and Dr. Beno Michel<br />
Laura Abrams, Leadership Development Director<br />
AMERICAN FRIENDS OF THE HEBREW UNIVERSITY<br />
7777 Glades Road, Suite 401, Boca Raton, FL 33434<br />
Tel. 561.948.3344 | Fax 561.750.8292<br />
labrams@afhu.org | AFHU.ORG
Change language