How to make food waste into a profitable business

Researchers in the field of Entrepreneurship and Innovation at Luleå University of Technology, have been granted SEK 3.7 million to study the management of food waste in the food and beverage industry. The researchers will develop business models for how to make money from residues and waste from the food industry, instead of waste simply being dumped.

– We are increasingly talking about “valorization”, this basically means how to generate additional value from different raw materials. Food industry is specifically relevant and under developed in such thinking. In this project, we intend to combination of innovative processing technologies with business models innovation to achieve valorization of food waste, Vinit Parida says, Professor in Entrepreneurship and Innovation at Luleå Univerrsity of Technology and leading Swedish partnership in the project.

Business models for profit on food waste

The project will develop technologies to take care of the food waste and make the use of the waste profitable. For researchers at Luleå University of Technology, it is important to find smart business models that can generate profit from this. They will examine 75 possible business models, analyze these and spread the knowledge about the technology platform for the project and its use.

– The food industry is important in Norrbotten, and in the case of waste there is a lot of value that should be used better. In this project, we will work closely with restaurants, micro-breweries and other actors that are working in local food industry, Wiebke Reim, says, one of the researchers in the project at Luleå University of Technology.

Interesting for food companies

It is relevant for all food companies to be able to take care of food waste better than what is happening today, for example in fisheries, meat production or breweries. What the researchers come up with about current business models can also be interesting for new companies who want to use residual products as a business concept, and for municipalities that need to reduce the amount of food waste. The research benefit both the environment and the economy.

– We need to use our existing resources more carefully and create as much value as possible from it. It promotes the environment, society and the economy, Wiebke Reim, says.

For many years, the researchers in entrepreneurship and innovation at Luleå University of Technology have examined the development of business models for different industries, where they focus on collaboration and resource utilization. They work closely with the companies and business organizations to ensure the practical relevance of the research and have worked with regional development and smart specialization.
 

Cooperate with Finland and Ireland

– We are looking forward to cross-border cooperation with Finland and Ireland that can strengthen our region. It will be a great pleasureto work in the project because there is great potential to positively affect the environment, society and economy, Wiebke Reim, says..

The total budget for the Symbioma project is SEK 14 million and the project will last for three years. Funder is the NorthernNorthern Periphery and Arctic Program (EU regional funding). The project will promote a circular economy by creating more value from existing raw materials