Switch Foods founder Edward Hamod says driving a shift towards more sustainable practices is reliant on the existence of viable alternatives. Photo: Switch Foods
Switch Foods founder Edward Hamod says driving a shift towards more sustainable practices is reliant on the existence of viable alternatives. Photo: Switch Foods
Switch Foods founder Edward Hamod says driving a shift towards more sustainable practices is reliant on the existence of viable alternatives. Photo: Switch Foods
Switch Foods founder Edward Hamod says driving a shift towards more sustainable practices is reliant on the existence of viable alternatives. Photo: Switch Foods

Generation Start-up: Switch Foods sinks its teeth into meat alternatives


Sunil Singh
  • English
  • Arabic

Initially considered a lifestyle choice, plant-based diets are gaining traction around the world as a way to reduce the environmental footprint of food, especially meat, at a time when consumers are becoming increasingly health-conscious.

To entrepreneur Edward Hamod, this shift in dietary habits led him to venture into the production of a novel alternative to meat sourced from animals.

Enriched with years of experience in the food technology industry in the UAE, as well as in his native country of Syria, Mr Hamod switched his focus to understanding the impact of food on human health.

In 2022, he launched his own company, Switch Foods, that produces meat derived from plants.

“Recognising a global trend towards sustainable food systems by local authorities, I educated myself on the intersection of food, health and sustainability,” says Mr Hamod, a science graduate from Ohio State University.

“Plant-based meat emerged as my answer to reducing the negative impact of animal meat in the food system.”

Before founding Switch Foods, Mr Hamod was chief operations officer at Abu Dhabi-based Emirates Food Industries.

He also served as a member of the Executive Committee for the Abu Dhabi Food Security Centre and offered his services to several committees advising the Minister of Food Security and the Abu Dhabi Agriculture and Food Safety Authority.

Plant-based meat products have the same consistency, flavour and fibrous texture that animal meat possesses.

Animal meat consists of protein, fat, vitamins, minerals and water. While plants lack muscles, they contain protein, fat, vitamins, minerals and water.

It is this biochemical similarity between plants and animals that is used to produce plant-based meat.

Substituting vegetables for meat reduces saturated fat content while increasing fibre and nutritional content.

“Our global food system, particularly focusing on beef, ranks as the second-largest emitter of greenhouse gases, following oil and gas. This sector contributes a significant 30 per cent of global greenhouse gas emissions, indicating a considerable environmental concern,” says Mr Hamod.

“Consider this: A substantial 80 per cent of the crops we cultivate aren't directly consumed by humans but instead go into feeding animals. These animals provide a mere 17 per cent of our overall food supply, leading to considerable environmental consequences, including land degradation, deforestation and water pollution.”

Additionally, the Food and Agriculture Organisation classifies meat as a cancer-causing product, contributing to high obesity rates and cardiovascular diseases, “particularly in our region”, he adds.

Switch Foods says its products are 100 per cent free of GMOs, soya, allergens, and gluten. Photo: Switch Foods
Switch Foods says its products are 100 per cent free of GMOs, soya, allergens, and gluten. Photo: Switch Foods

Plant-based meat and alternative proteins have steadily gained traction in the Middle East and around the world, a trend accelerated by the Covid-19 pandemic, according to a report by Euromonitor.

During the pandemic, meat and dairy production prices were affected as markets faced supply chain issues.

Concerns about sustainability, health, food security and environment further encouraged the production of plant-based meat.

World population growth and an increase in demand is on track to limit the supply of conventional meat. However, plant-based alternatives offer a sustainable solution, potentially feeding a larger population, says Mr Hamod.

“Looking at the bigger picture, there's a critical aspect of food security. Recent global challenges, whether the pandemic or disruptions in supply chains due to natural disasters, highlight our dependence on external sources. Producing locally is a strategic move to mitigate these risks,” he says.

“Amid the ongoing issues in the Red Sea, relying on imports through the Suez Canal and the Red Sea has already resulted in price hikes, container shortages and insurance difficulties.

“Local production significantly reduces these risks and fosters a more resilient and sustainable approach to our food supply chain.”

The global plant-based food market could exceed $162 billion by 2030, from $29.4 billion in 2020, according to Bloomberg Intelligence.

In the Middle East and Africa, the plant-based meat and dairy product market is projected to hit $412.96 million by 2029, from $302.26 million currently, growing at a cumulative rate of more than 6 per cent during the period, according to a report by Mordor Intelligence.

A growing consumer focus on health and sustainability is driving demand for plant-based products across the region.

Switch Foods plan is to establish centres in all key markets it operates in.
Switch Foods plan is to establish centres in all key markets it operates in.

Switch Foods was incorporated in 2022, and its first production site was inaugurated in April last year at the Khalifa Industrial Zone in Abu Dhabi.

To make plant-based meat, different producers use varying plant protein profiles as their base. Some use soya while others use wheat or even fava.

Switch Foods uses pea protein as its base because “peas are an excellent source of plant-based protein and boast a remarkable essential amino acid profile known for its protein quality and digestibility benefits”, Mr Hamod says.

The pea protein is then extruded and blended with vegetable fats, flavourings and colours to create a product that emulates traditional animal meat's taste, texture and appearance.

“At Switch Foods, we start by carefully selecting our source or protein. We make sure it’s a natural, non-GMO [genetically modified organism] and high-quality protein,” says Mr Hamod.

“We then mix the protein with the other elements available in our products such as wholefoods [tomatoes, parsley, onions, etc], add the vegetable fats, fibre, natural plant-based flavour. All of this is done in different steps and with particular attention to dosages and methods.

“After that, we let the mix hydrate, then we pass [it] through a portioning machine, then forming and then freezing before packing.”

Currently, Switch Foods supplies its products across various retail chains in the UAE, including Spinneys, Carrefour, Lulu, Geant, Almaya, Union Co-op, Sharjah Co-op and others.

It also has an online presence, being available on platforms like Talabat, Careem and Kibsons.

Beyond retail, the company's products have recently been found across several restaurants in the UAE, including Al Safadi, The Coffee Club, all establishments within The First Group hotels, and all Millennium Hotels restaurants.

The company is looking for collaborations with Burger Fuel restaurant.

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Mr Hamod says the company’s reach is not confined to the Emirates as it has “expanded to neighbouring countries, exporting products to Lebanon, Kuwait and Qatar”.

The company has so far raised about $6.5 million from a seed funding round and is in the process of closing another round of $7 million.

Since June 2023, Switch Foods has experienced consistent monthly growth, with a cumulative aggregate growth rate of about 20 per cent a month.

“Examining our current trajectory and growth pattern, we anticipate the 2024 revenue to be around Dh10 million [$2.72 million] from the UAE alone,” Mr Hamod says.

“In the previous year, with only half a year of operation, we closed with a revenue of about Dh2 million in the UAE.”

One of the biggest growth drivers of his business lies in increasing the number of consumers familiar with the brand over time, according to Mr Hamod.

“We're actively engaging in sampling activations and participating in events to build brand awareness. Positive consumer responses during our product trials are translating into actual purchases. It's promising to see the same consumers making repeat purchases, incorporating Switch Foods into their regular shopping routines,” he says.

“As we continue with sampling and awareness initiatives, there's a noticeable uptick in consumer adoption and consumption.”

Q&A with Edward Hamod, chief executive and founder of Switch Foods

What successful start-up do you wish you had started?

If I were to choose one, it would undoubtedly be Tesla. Tesla was a game changer in the automotive industry by leading the global electric vehicle market, a venture that involved substantial risks.

Tesla not only took on formidable competitors head on but emerged victorious, compelling transformative changes in some of the largest global companies. The combination of innovation, risk-taking and a commitment to sustainability makes Tesla a standout success story.

What new skills have you learnt from launching your venture?

The process of launching my venture has been a masterclass in elevating my entrepreneurial skills.

From establishing effective governance structures and securing strategic funding to recruiting and motivating a dynamic start-up team, I have also cultivated the flexibility, agility and mental resilience necessary for navigating the unpredictable nature of the business landscape.

These skills not only contribute to the current success of our venture but also lay the groundwork for future endeavours.

If you could start all over again, what would you do differently?

I would prioritise finding a co-founder of exceptional calibre who shares not only the risks but also the vision for our venture. Having a reliable sounding board who can consistently add value, provide constructive challenges and actively participate in the day-to-day operations is crucial.

I would seek a co-founder who, like me, is fully committed to the venture, willing to share both the triumphs and challenges, and dedicated to being a steadfast support system through the highs and lows of entrepreneurship. Together, we would create a partnership that fosters collaboration, innovation and resilience, enhancing the overall success and longevity of the venture.

What is your next big dream?

My next big dream is to successfully secure a substantial series A funding round for Switch Foods in order to further expand the brand and enter new markets.

Like a Fading Shadow

Antonio Muñoz Molina

Translated from the Spanish by Camilo A. Ramirez

Tuskar Rock Press (pp. 310)

How to apply for a drone permit
  • Individuals must register on UAE Drone app or website using their UAE Pass
  • Add all their personal details, including name, nationality, passport number, Emiratis ID, email and phone number
  • Upload the training certificate from a centre accredited by the GCAA
  • Submit their request
What are the regulations?
  • Fly it within visual line of sight
  • Never over populated areas
  • Ensure maximum flying height of 400 feet (122 metres) above ground level is not crossed
  • Users must avoid flying over restricted areas listed on the UAE Drone app
  • Only fly the drone during the day, and never at night
  • Should have a live feed of the drone flight
  • Drones must weigh 5 kg or less
The biog

Family: Parents and four sisters

Education: Bachelor’s degree in business management and marketing at American University of Sharjah

A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls

Likes reading: autobiographies and fiction

Favourite holiday destination: Italy

Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning

Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes

Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure

UAE jiu-jitsu squad

Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)

Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)

GOLF’S RAHMBO

- 5 wins in 22 months as pro
- Three wins in past 10 starts
- 45 pro starts worldwide: 5 wins, 17 top 5s
- Ranked 551th in world on debut, now No 4 (was No 2 earlier this year)
- 5th player in last 30 years to win 3 European Tour and 2 PGA Tour titles before age 24 (Woods, Garcia, McIlroy, Spieth)

India team for Sri Lanka series

Test squad: Rohit Sharma (captain), Priyank Panchal, Mayank Agarwal, Virat Kohli, Shreyas Iyer, Hanuma Vihari, Shubhman Gill, Rishabh Pant (wk), KS Bharath (wk), Ravindra Jadeja, Jayant Yadav, Ravichandran Ashwin, Kuldeep Yadav, Sourabh Kumar, Mohammed Siraj, Umesh Yadav, Mohammed Shami, Jasprit Bumrah.

T20 squad: Rohit Sharma (captain), Ruturaj Gaikwad, Shreyas Iyer, Surya Kumar Yadav, Sanju Samson, Ishan Kishan (wk), Venkatesh Iyer, Deepak Chahar, Deepak Hooda, Ravindra Jadeja, Yuzvendra Chahal, Ravi Bishnoi, Kuldeep Yadav, Mohammed Siraj, Bhuvneshwar Kumar, Harshal Patel, Jasprit Bumrah, Avesh Khan

Director: Laxman Utekar

Cast: Vicky Kaushal, Akshaye Khanna, Diana Penty, Vineet Kumar Singh, Rashmika Mandanna

Rating: 1/5

 

 

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

MATCH INFO

Juventus 1 (Dybala 45')

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Red card: Rodrigo Bentancur (Juventus)

Avatar: Fire and Ash

Director: James Cameron

Starring: Sam Worthington, Sigourney Weaver, Zoe Saldana

Rating: 4.5/5

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The biog

Born November 11, 1948
Education: BA, English Language and Literature, Cairo University
Family: Four brothers, seven sisters, two daughters, 42 and 39, two sons, 43 and 35, and 15 grandchildren
Hobbies: Reading and traveling

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Updated: April 04, 2024, 10:08 AM