Proeon awarded as 'Technology Pioneer' by World Economic Forum

Proeon, an India based start-up that produces next generation plant-based proteins that are superior in functional, nutritional and sensory profiles, was selected among hundreds of candidates as one of the World Economic Forum’s “Technology Pioneers”. Proeon is an R&D driven ingredient innovation company, founded by Ashish Korde and Kevin Parekh in 2018, which develops plant-based ingredients to make food sustainable for people and the planet by making plant-based proteins that are comparable to animal sources in nutritional value and better for the population and planet.

The World Economic Forum’s Technology Pioneers are early to growth-stage companies from around the world that are involved in the use of new technologies and innovation that are poised to have a significant impact on business and society.

With their selection as Technology Pioneer, co-founder Ashish Korde from Proeon will be invited to participate at World Economic Forum activities, events and discussions throughout the year. Proeon will also contribute to Forum initiatives over the next two years, working with global leaders to help address key industry and societal issues.

“We’re excited to welcome Proeon to our 2022 cohort of Technology Pioneers,” says Saemoon Yoon, Community Lead, Technology Pioneers, World Economic Forum. “Proeon and its fellow pioneers are at the forefront of industries that are critical to solving some of our world’s most complex issues today. We look forward to their contribution to the World Economic Forum in its commitment to improving the state of the world.”

A total of 4 companies from across the globe doing pathbreaking work towards creating sustainable food systems are a part of 2022 cohort of Technology Pioneers, Proeon being the only India-based start-up in this track. “It’s great to be acknowledged as pioneer by the World Economic Forum. It confirms our efforts towards ingredient innovation and being at the forefront of disruption in plant-protein technology”, says Kevin Parekh, Co-founder at Proeon.

“Our vision is to make food that is sustainable and better for consumption for the population and the planet. India’s unique crop biodiversity has offered us the potential to leverage native sources like Mung bean, Indian Bengal gram and sustainable, climate resilient crops like Amaranth for their excellent nutritional values and functional possibilities to work as key ingredients for replacing animal origin proteins. Working with these sources, we aim to positively impact the lives of small-scale farmers by increasing incomes and reducing their market risks, and have a significant environmental impact in the face of growing climate concerns. We look forward to the forum dialogues on this challenge”, adds Ashish Korde, co-founder at Proeon.

This year’s cohort has 31% representation from Asia, out of which 5 are based out of India. Varun Deshpande, managing director of expert alternative proteins non-profit The Good Food Institute Asia, added, “As we continue to contend with the threats of climate change, food insecurity, and public health crises, we can no longer afford incremental thinking. Transformative, paradigm-shifting technologies like alternative proteins are our best bet at building back better, and innovators like Proeon are showing that the next wave of smart protein pioneers are emerging from across the developing world. Ecosystems like India’s, with our unique opportunities and challenges, provide fertile ground for a more secure, sustainable, and nourishing food system through visionary business stewardship. We are delighted to work alongside partners like Proeon and the World Economic Forum community to build that future.”

For the first time, over one-third of selected Technology Pioneer firms are led by women, well above the industry average. The firms also come from regions all around the world, creating a truly global community. The diversity of these companies extends to their innovations as well. This year’s Tech Pioneer firms are shaping the future by advancing technologies such as AI, IoT, robotics, blockchain, biotechnology and many more. The full list of Technology Pioneers can be found here.

Technology Pioneers have been selected based on the community’s selection criteria, which includes innovation, impact and leadership as well as the company’s relevance with the World.