The OMEGOUS Way in Biotech Vertical

By Daniel Arad 2^nd Year

As part of our second-year studies in entrepreneurship, we had the privilege of participating in Vertical Bio Tech under the direction of Gilad Goma, who set a very high standard and demanded that we treat the project with great seriousness and professionalism. Thanks to Gilad's hard work and guidance, we established our venture - Omegous.

During the semester, we delved into biology, gaining a broad and diverse foundation to foster our curiosity. We were privileged to learn from first-class guest lecturers, including venture capital investors and start-up owners without a biological background, like us. This bolstered our confidence and competence, which proved to be highly successful in our case.

The course opened my eyes to a new entrepreneurial world that intrigued me and differed from the traditional approaches I had learned so far in my degree. Typically, in entrepreneurial challenges and actions, we divide into groups and seek answers collectively through entrepreneurial thinking. However, in this course, I learned a different approach: the answers are out there. By talking to industry professionals and participating in various conferences, we gained a deeper understanding of the field's needs. Gilad ensured that we, the students, connected with experts to hear their insights, understand their pain points, and receive guidance on our ideas and their implementation. This played a significant role in assembling the puzzle, ultimately leading us to a solution we believe will revolutionize the industry.

Our company, Omegous, was created to address a genuine need in the marine alternative food industry. Current companies in this field struggle to produce a fish substitute that matches the original in nutritional value and price due to the high cost of omega-3 components. For instance, producing a kilo of cultured salmon requires companies to spend $1.8 solely on omega-3 to match the original salmon's dosage. This significantly increases the product's cost, making it less accessible and a less viable "real substitute" in terms of nutritional value and price. Additionally, transporting the frozen omega-3 component adds further economic and environmental costs.

Omegous aims to transform the omega-3 industry for alternative food companies. By developing a precise fermentation process using fatty yeasts, we can significantly lower the market price of omega-3. Our business model involves licensing our technology to alternative food companies and sharing the savings, enabling them to produce the omega-3 they need without shipping costs. This will allow them to reduce the price of omega-3 from day one with us. The journey is still long, but we are committed to navigating it successfully.

Participating in the vertical competition was an invaluable learning experience, where we presented to a senior panel of judges and received professional feedback. We are grateful to the university for creating opportunities for us to engage in entrepreneurial endeavors. Special thanks to our team members, Roy Rivlin and Anwar Odeh, and especially to Gilad Goma, who opened new entrepreneurial horizons for us.