Sustainability problem:
Leather is a $100 billion global business. It is an industry tied to a complex and unreliable supply chain, challenged by price volatility and sourcing inconsistency due to the non-homogenous quality of the material. Research has shown that 20 to 30% of the raw material goes to waste.
The industry is dependent on animal skin, and is petrochemical and GHG intensive.
Technology:
Fake or real? (source: Courtesy)
Modern Meadow is a biotechnology startup fabricating leather without animal skin. The company produces a fibrous protein called collagen by fermenting a specific strain of yeast. The collagen is then assembled and tanned to create a material that is almost identical to traditional leather.
Stakeholders:
- any company sourcing leather to manufacture its goods
- fashion and luxury industry with high margins and a pressing need to innovate
- traditional leather suppliers
- NGOs
Development/Implementation:
- Raise product and technology awareness
- Strategic B2B business development campaigns
- Product development partnerships with clients
- Further technology/advance to reduce the price of currently costly product and unlock mainstream markets beyond the luxury industry
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