BUSINESS MODEL – Social Business Creation

Evidences for SBC Competition

https://drive.google.com/drive/folders/1t0aOyx8Ic9E9G0Bef5PKqY8qeG5HiXQR?usp=share_link

ROUND 1: Social Challenges

Taste and Texture: Some consumers may find plant-based meat alternatives unappealing due to their taste or texture. Lemit Foods invests in product development to improve flavor, taste and texture to make their plant-based meat alternatives a convenient, versatile and appealing option, with a range of fresh sauces and condiments to cater to different tastes.
Health and Wellness: Consumers interested in plant-based diets are often motivated by health concerns. Jackfruit meat products are a healthier alternative to traditional meat products, making them a flexible option for consumers trying to reduce their meat consumption without completely eliminating it from their diet.
Food Production and Consumption: Unfair pricing and sourcing practices can lead to market chaos, where local farmers may not have the bargaining power to negotiate fair prices for their products. Lemit Foods uses an inclusive business model by working with farming cooperatives and supporting small-scale farmers, providing stable incomes and employment opportunities for local communities.
Environmental Sustainability: Environmentally conscious consumers may look for alternatives to meat that have a lower carbon footprint, greenhouse gas emissions and are less resource-intensive to produce for a sustainable food production. By reusing young jackfruit for producing meat and seeds for cocoa-powder alternative, Lemit Foods is reducing food waste and promoting sustainability and circularity in the food system.

Social Solution

Our social solution design is focused on addressing a range of social issues related to the food system, including unappetizing and homogeneous vegetarian food options, health and wellness concerns associated with meat consumption, lack of awareness and education about plant-based diets, unfair pricing and sourcing practices, and environmental impacts associated with meat production.
Our diverse range of plant-based meat alternatives are not only healthy but also visually appealing and tasty. By prioritizing taste and health, Lemit Foods seeks to challenge the common perception that vegetarian or vegan foods are unappetizing and lack variety. This approach is distinct from many other plant-based food companies that focus solely on health or sustainability without emphasizing taste.

Lemit Foods’ Long-term Approach:

Jackfruit as a primary ingredient allows us to offer a novel and flavorful to both vegans and meat-eaters alike
Tasty & texture like real meat (thru customer survey for our MVP tests on jackfruit pate and other products)
Differentiated diverse product portfolio with unique taste & flavor combinations & sustainable ingredients
Invest in R&D and work with farmers/cooperatives to create innovative & sustainable solutions
Fair prices & sustainable practices and using locally sourced and sustainable ingredients

Video Presentation

Introduction

Lemit Foods is a startup based in Hau Giang province that produces plant-based meat alternatives made from jackfruit. Their product line includes a range of healthy snacks, pickled and fermented vegetables, ready-to-cook foods, ready-to-eat foods and drinks, with their pioneer product being jackfruit pate. Lemit Foods’ products are made from locally sourced jackfruit, which has a fibrous texture, neutral flavor, and is readily available in Vietnam. The startup aims to promote sustainable and ethical plant-based diets in Vietnam, reduce the environmental impact of meat consumption, and support local farmers.

Lemit Foods has a multi-faceted social solution design with several intended impacts. The company aims to promote a healthy and sustainable plant-based diet by offering flavorful and textured alternatives to meat products. This can reduce health concerns related to excessive meat consumption. To achieve this, Lemit Foods plans to expand its diverse portfolio of plant-based products while showcasing Vietnamese cuisine arts and culture. It is committed to making its products affordable, accessible, and appealing to a wide range of consumers. In addition, Lemit Foods supports local farmers and communities by creating a new jackfruit meat industry, which contributes to the economic development of the region and promotes healthier and more sustainable food choices. Lastly, Lemit Foods focuses on sustainable sourcing and production methods, using young jackfruit for meat and cocoa powder alternatives, and adopting a circular model to minimize waste and support local farmers and communities while reducing its environmental impact.

Vision

Our vision for Lemit Foods is to contribute in building a world where everyone can have access to delicious plant-based foods, healthy and sustainable, and, and where local farmers and communities can thrive. We aim to create a more equitable and just food system that benefits both people and the planet.

Mission

Our mission at Lemit Foods is to innovate the Vietnam’s agrifood industry by offering plant-based meat alternatives and promoting sustainable farming practices, while supporting local communities.”

We aim to creating innovative, delicious and healthy food options to consumers who seek to reduce their meat consumption, and in doing so, contribute to the reduction of greenhouse gas emissions and the preservation of our planet’s natural resources. We work with local farmers to source our ingredients, promote fair trade practices, and support the local economy. Our principal methods to achieve social impact include product innovation, education and awareness campaigns, and community engagement.

Our mission statement, “Tasty, Healthy, and Sustainable: Experience the Goodness of Jackfruit Meat Alternatives,” guides our business activities and attracts stakeholders who share our values and vision. By focusing on taste, health, and sustainability, we aim to appeal to a wide range of flexitarian consumers, including both vegans and meat-eaters. Our mission aligns with the United Nations’ Sustainable Development Goals, particularly Goal 3: Good Health and Well-being, Goal 8: Decent Work and Economic Growth and Goal 12: Responsible Consumption and Production.

Lemit’s Solution Newness

1^st pioneer for jackfruit’s diverse meat alrenatives in Vietnam
Focused Vietnamese cuisine & culture
1st marker for jackfruit pate & cocoa-power alternative in Vietnam/region
Commitment to continuing R&/innovation to improve solutions advantage against rivals
Integrate with new tourism model “Jackfruit tourism” in partnership with local community and tourism experts

(*) Hau Giang ranks the 1^st biggest areas of jackfruit plants in Vietnam, 7.000 hectares

Lemit Foods’ focus on Vietnamese cuisine and culture is also a unique aspect of our solution. By incorporating traditional Vietnamese flavors and dishes, we are offering a product that is distinct from existing plant-based products on the market.

Stakeholder Engagement Strategy

Lemit Foods has an all-encompassing approach to gaining support from its most important stakeholders, which includes potential payers, beneficiaries, universities, innovation organizations, suppliers, farmers, partners, regulators, government, media, social impact organizations, NGOs, investors, and influencers. The company’s strategy is to leverage various stakeholders and channels to promote its vision of sustainable and healthy plant-based food choices.

Improvement Strategy

Throughout the competition, we have gained valuable insights into the social issues related to meat consumption and the benefits of plant-based diets. Initially, we were surprised by the complexity and depth of the underlying causes, and we realized that a more holistic and integrated approach is needed to address them effectively.

Moving forward, we will continue to improve our social solutions by incorporating feedback from stakeholders, continuously monitoring and evaluating our impact, and refining our approaches based on new insights and data. We will focus on R&D activities to ensure taste and texture like meat, diverse products, implementing effective marketing and outreach strategies to increase awareness and demand for our product, and engaging with stakeholders and beneficiaries to ensure that our solutions are relevant and effective. We will also consider the sustainability and scalability of our solutions, as well as their long-term impact on the community. We will continue to iterate and refine our solutions based on feedback and data to ensure that we are continuously improving and maximizing our social impact. Finally, we will refine our supply chain and production processes and innovate our business model to ensure efficiency and sustainability.

References

Lemitfoods’ Youtube Channel

https://www.youtube.com/@lemitfoods

Television/Radio

Newspaper