High protein, non-GMO insects can be grown quickly and processed into chips to be distributed throughout the world’s slums. On Monday, Bill Clinton awarded a group of McGill MBA students with the $1 million Hult Prize to accelerate their business plan.
Insects are already part of a healthy daily diet for over 2 billion people living in the unfortunate slums of Latin American, East Asian, and African. The Aspire Food Group’s business model involves selling kits for people to grow the crickets and then sell it back to the company to be processed into flour for ‘lime chips’.
Apart from being cheap to produce, insects are great for the environment. They require a quarter as much feed as livestock, need less space and water, can eat waste that would otherwise be discarded, and produce up to 100 times less greenhouse gases as pigs, says Afton Halloran, a consultant with the U.N.’s Food and Agriculture Organisation (FAO).
With the world population reaching 9 billion in the next 20 years and resources getting scarcer due to the inefficiencies of Neoliberalism, this group of young entrepreneurs is showing how to make money while doing good for people and the planet.
Picture credit: Hugo Quintero CC BY 2.0