Lithuania

At the heart of Lithuania’s dynamic tech ecosystem are ten venture capital firms that fuel innovation by providing crucial funding to startups.

The Vilnius TechFusion Awards 2024 highlighted the startup that best contributed to Lithuania’s economic growth and reputation last year.

In an era when sustainable food sources are more crucial than ever, Divaks is in charge of innovative, insect-based ingredients for the food industry. Founded in 2020 by CEO Kęstutis Lipnickas and Chairman Audrius Grušnis in Lithuania, this startup is committed to revolutionizing how we think about protein sources. With a growing team of 18 professionals, Divaks is poised to significantly impact food production. A Shift Towards Sustainable Food Systems Insect-based ingredients represent an important step toward creating a more sustainable food system. Producing insect protein requires significantly fewer resources like water, land, and feed, emitting fewer greenhouse gases than traditional livestock farming. Insect farming produces 80% fewer greenhouse gas emissions than conventional livestock. The food industry, seeking innovative ways to meet growing protein demand with limited resources, has taken notice of the reduced environmental impact of insect-based ingredients. Lithuania-based Divaks recognized this potential and developed a range of insect-based ingredients tailored to the industry’s needs. Insect Ingredients as a Game-Changer Their high nutritional value drives the shift toward insect-based ingredients. Insects are rich in proteins, vitamins, and amino acids, making them a highly efficient food source with minimal environmental impact. The FAO notes insects provide as much protein as beef but need fewer resources. Recognizing this, Divaks has become a pioneer in insect protein for the food industry. Insect protein is now a practical solution to sustainably feed the growing global population. Targeting Health-Conscious Consumers As the food industry evolves, so do consumer preferences. Millennials and Gen-Z are increasingly focused on health and sustainability, making them ideal consumers for alternative proteins like insect-based ingredients. A 2020 Innova Market Insights study found that 40% of global consumers prioritize sustainability in their food choices. Divaks targets food companies and ingredient distributors, appealing to consumers who value nutrition and environmental responsibility. The company is positioned for long-term success in an innovation-driven market by aligning with these trends. Collaboration in the Insect Industry One of the unique aspects of the insect protein industry is its focus on collaboration rather than competition. Divaks believes the collaboration will accelerate market growth as the sector is still developing. By working together, companies in the insect protein industry can boost consumer awareness and expand sustainable protein adoption. The company is partnering with European distributors and engaging directly with food companies to promote insect-based products. Their commitment to collaboration, innovation, and sustainability is what sets them apart in this rapidly growing sector. Divaks’ Revenue and Future Goals Divaks is currently building partnerships with European distributors, having already signed contracts in Italy and Germany. “We are finalizing contracts in Austria, the UK, Ireland, and Spain,” they reported. The startup is also exploring opportunities in the pet food market, broadening its reach. The company is participating in the SIAL Startup Village event for the first time, seeing it as a valuable opportunity to connect with producers and distributors while educating the food industry about the benefits of insect proteins. “We hope to enlighten others about the overall value of insect proteins,” they expressed.