Innovation UBC’s HATCH Venture Builder program provides established, UBC research-based venture teams with the resources and expertise to scale their business. Ventures undergo leadership training, up to 18 months of educational programming building off skills learned in our Venture Founder program, gain access to spaces, and receive the advisory services of dedicated Entrepreneurs in Residence (EiRs) who support company development, sales and marketing, recruiting and fundraising.
Currently in the HATCH program is Sustainable Bioproduct Innovations (SBI), whose flagship product, 0Fat™, is a plant-based fat substitute made from chia seed mucilage along with other eco-friendly plant-based ingredients. This substitute is designed to replace animal-derived fats in food production, offering a sustainable alternative that benefits both manufacturers and consumers without sacrificing the taste and mouthfeel of traditional fats. In this Founder Spotlight Q&A, learn about co-founder Dave Eto, his background, and how SBI continues to move forward.
Tell us about yourself. Your background, your UBC connection, and what drew you to entrepreneurship.
I am a Food Science graduate from UBC and have been associated with many Faculty initiatives; UBC LFS Mentorship program, Food & Beverage Innovation Centre and Alumni Builder recipient. I was recruited by my co-founder partner in 2023, to create a spin-off company and commercialize our 0Fat technology. Having spent 35 years in corporate positions for established companies, I felt it was time to explore startup opportunities and see if my collective experience and network could help SBI Inc.
What is your venture, and why does it matter?
0Fat can replace any type of fat in food & beverage. This helps food manufacturers comply to new Front of Packaging regulations, reduce costs of manufacturing, provide healthier eating options for consumers looking to reduce their fat and caloric intake without sacrificing taste and texture, and reduce dependency on tropical oils.
What recent venture milestones are you excited about?
Recently, SBI Inc. has acquired $750K in non-dilutive funding and $415K in dilutive funding; received Health Canada approval for use in food & beverage; demonstrated over 50 different types of food & beverage applications with both client and consumer acceptance; and is on the verge of large-scale manufacturing and commercialization.
What has been the biggest challenge you've had to overcome in building your venture? And, how did you get through it?
Some challenges have been securing a capable contract manufacturer who could meet our specifications, securing a team of people with nimbleness and flexibility to work in a start-up, and developing a treasury to support the financial requirements to launch our technology.
How has the HATCH program supported your journey?
Running an established business has its challenges, but when starting from nothing, there are many more considerations and issues to address simultaneously, without the resources, historical context, or funds to support learning. The HATCH program provides access to experienced people who understand what growing from nothing requires, and if you are willing to put in the hard work, they will support your journey.
What's next for your venture? What are you working toward in the next 12 months?
SBI Inc. is now working towards commercializing 0Fat technology in the food & beverage space and becoming one of North America's largest Agritech ingredient companies in five years.
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