Natural Iron Fortifier
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An iron-clad plan.
A globally-recognized start-up addresses a gap in the nutrition industry
The Opportunity
Iron deficiency is the most prevalent form of micronutrient deficiency in the world. It can cause a broad number of symptoms, and in severe cases, even death. Lucky Iron Life had developed an innovative way to help people – particularly in developing countries – achieve their daily iron requirements with a small iron ingot that could be added to foods as they cook. But some customers – including NGOs providing meals to children – wanted the iron without the process of adding the ingot.
The Challenge
Lucky Iron Life needed to find a way to deliver their iron in a supplement that would achieve the same benefit of their iron ingot, while being easy and convenient to take every day. They needed to conduct clinical trials to show that their new powdered format could deliver the potency to improve iron levels in both anemic and non-anemic children as NGO meal programs would be serving the iron-enriched product to both groups. They also wanted to test the product on women of reproductive age as they are often at risk of low iron.
When we realized that customers wanted alternate versions of our product, we knew it would involve in-depth product development and testing. NPC was there with the right advice and questions, and ultimately the capital to help us see this through.
NPC’s Solution
NPC provided Lucky Iron Fish over $228,000 through its Proof of Concept Program to conduct clinical trials among the two groups: children served meals through an NGO in Guatemala; and reproductive-age women in Canada. Both trials were successful in demonstrating safety and efficacy in elevating iron levels to healthy and acceptable states, while not incurring iron overload in non-anemic children. These results helped Lucky Iron Life set the stage for future commercialization efforts, including regulatory approvals.
NPC is committed to the creation of natural products that are better for people, animals and the planet. We propel early-stage Canadian innovators with the advice, connections and capital they need to develop and de-risk their solutions quickly and efficiently.
Lucky Iron Fish
Description:
Sector(s):
Food, Nutrition, FoodtechFunding Type:
Proof of ConceptProvince:
OntarioFunding Amount:
$228,503
Year of Funding:
2021Name:
Gavin Armstrong