Nicole Astra: Welcome to Talking Plant Protein. My guest today is a recent finalist in Roquette's Innovation Challenge. Please welcome Manuel Palma, co-founder of P&M Foods. Manuel, thank you for joining us.

Dr. Manuel Palma: Thank you very much for the invitation.

Nicole Astra: Tell me about your submission.

Dr. Manuel Palma: First, I'm the co-founder at P&M. I founded P&M with my sister. I am a Ph.D. In food and nutrition. I work a lot of years in functional foods. I decide with my sister to reinvent the way other people eat, and we have the mission to change as people is eating foods [inaudible 00:00:47].

Nicole Astra: And how did you decide what you were going to present to Roquette?

Dr. Manuel Palma: We present in the contest a different way of developing foods. Where we combine research strategies and take them for products development. For example, working with vegetable raw material is not easy and now we are working only with vegetable raw materials. It's difficult to ensure about the interactions between each ingredient in an appropriate way. Sometimes due to bad interaction, the food products obtaining have a poor quality. However, in P&M our now less regarding to the use of statistical programs, design of experiments allow us to obtain formulas with the best performance. And we use ingredients in the right amount. This way of developing foods allow us to create PlantBased foods, such as muffins and brownies. Lactose-free, but have the same taste and behavior as produce with these ingredients.

            In another hands, we're presenting a different proposal to the rest of the competitors in the contest. In the sense that our focus goes far beyond generating foods proposal with vegetable proteins, but rather that we create complete unbalanced food with all the macronutrients that our body needs. We are also aware that the industry has to start worrying about the environment, but also people's health as the most important thing. And we address these two problems.

Nicole Astra: So tell me about your philosophy of complete matrix of nutrition and not just protein.

Dr. Manuel Palma: Of course. What is our philosophy? The changes in lifestyle. How quickly everything happens, force us to eat in a good way all times, because we don't have time. And normally we eat very bad all day. In our philosophy even a snack should provide us with all the nutrients that our body needs and most important protect our health. P&M matrix contain all the micronutrients that our body needs in a balanced way. The purpose is that we can consume a complete and balanced foods with not only removes hunger, but also nurtures us. Additionally, this balance must be aligned with that caloric intake is not high, taking into consideration [inaudible 00:03:30] weight problems they are currently suffering from. In other way, why complete foods in the case of proteins, our meat contains different kind of vegetable proteins. When you eat vegetable proteins, normally they don't have the total quantity of amino acid that our body requires.

            In P&M, our plant-based formulas helps all the amino acid that our body requires because we combine different plant-based proteins from different origins. The same happened with the consumption of dietary fiber. We need to consume adequate combinations of soluble and insoluble fiber, but the food industry does not take this aspect into consideration. Finally, we incorporate healthy oil and natural antioxidant with an effect and protect our body and helping to improve the immune system and our health conditions. As you can see, our products are a complete foods with all the nutrients that our bodies needs. Totally different to the actual experience of the food industry. We change the idea of the creation of foods.

Nicole Astra: And part of your vision is also to answer some of the world's hunger issues. Is that correct?

Dr. Manuel Palma: Yeah. Yeah. The hunger issues it's a problem but there is another problems. The hunger is a problem and obesity in another way, it's another problem. And we are creating foods to solve both problems. For example, in the point of view of obesity and overweight, we develop dietary solution that focus on preventing these type of diseases. The P&M mixture gives satiety due to the type of ingredients that the products are composed of with a low calorie intake per serving. If we think of those populations that have difficulties to get food and that suffer from malnutritions, thanks to the fact that our products have a long shelf life and are in powder form, they can reach different parts of the world. Maintaining their technological and nutritional characteristics. The products are complete and balanced and comply with solving nutritional problems with people, with hunger.

            And finally, the idea to work with plant-based ingredients is because plant-based ingredients are cheaper related to ingredients, to animal origin and are environmentally friendly. In our philosophy and in our idea, it will continue increasing the interest that in plant-based foods probably will be as stimulus for farmers around the world that are interested in these type of crops. These crops have a positive impact on soil recovery and the household economy. For the reasons I think it's a very good solution to solve different kind of problems. It's not only hunger, it's not only overweight or obesity. It's a solution for farmers too.

Nicole Astra: That's wonderful. Tell me more about the company itself and the products that you have gotten all the way onto market.

Dr. Manuel Palma: Okay. Well, it's important to say that P&M it's a very young company. We started operations in October 2019 in Santiago de Chile. And we create to prevent and protect people from different diseases such as obesity, overweight, diabetes, cardiovascular disease, improve digestive health, among others. We started the company with only two products. [inaudible 00:07:16] muffin. You prepare this [inaudible 00:07:19] muffin only with water and oil. And a soup. Both products were oriented to senior people. Both products are suitable for people with diabetes, with cardiovascular problems. And the soup contain ingredients that improve the function and capacity of our brain. I like to work with omega-3, but a specific omega-3. We work with EPA. It's an omega-3 that you find in fishes but I work with omega-3 from [inaudible 00:07:51] and I'm working with another fat, it's MCT. It's a different fat because it has a different absorbtion in our body and gives you energy to the brain cells. For that reason, I like to work with this kind of fats.

            Later, we increase our offer of products and we launch different varieties of muffins. But this kind of focus was totally different because these new muffins are oriented to solve problems related to obesity and overweight in children. Why? Because we develop a nutritional formula with a mixture of proteins, soluable and insoluble dietary fiber and functional ingredients that eliminates hunger for hours. And with less than 100 calories per serving. The high impact of this solution is for example, the children could consume up to three muffins and they still not get to consume the calories that has one traditional muffin. It's a wonderful product and a complete food for children.

Nicole Astra: How have you secured funding so far?

Dr. Manuel Palma: Actually, we receive money from my family. My family believe in my projects and put money to continuously grow. And now we are in conversation with an investor because we need to install a new production plan. We have a small capacity, and we are looking for investment for the new plans.

Nicole Astra: Do you think that being a finalist in the Roquette Innovation Challenge increased awareness of what you're doing at P&M?

Dr. Manuel Palma: Absolutely. Absolutely because this kind of contest allow us to show us in the world, in all the entire world. And we show we have a new and a different vision about the food. About how the people need to eat. And we have a different vision related to environments and health because we are sure the environment is very important. For that reason we work with plant-based ingredients. But as I said, for me, the most important is the health of the population. Because if you are not healthy, probably you will live with a poor quality of life. And in my opinion, that it's fair that I want for myself in the future. I want to live free. I want to live, don't be a slave of medications. What happened right now? That all people consume close to four medicines during the day. And for me, that is really crazy. And I don't want that. I want the people can live free. And I think I show this vision to the rest of the world. And now we are receiving a lot of emails and call from people, interested in and invest in P&M. And that is very good. And I really appreciate to be a finalist in the contest.

Nicole Astra: But you're still brand new. But in addition to securing funding, what advice do you have out there for people who want to walk in your footsteps?

Dr. Manuel Palma: Oh, probably the most important is maintain the happiness. Maintain the happiness. And the security done is not easy to begin with startups. But when you do... that you believe, and you maintain your visions all is possible. And in my opinion, this is the most important things to do and think when you're growing.

Nicole Astra: And tell me, what is next for P&M foods?

Dr. Manuel Palma: What is the next? Oh, we have wonderful news. Actually, we were awqarded a project [foreign language 00:12:08] is Chilean government institutions to export to the United States. We have already made the market understanding. We are making changes in the packaging to make them according to the demands of the United States market. We are in the process of obtaining FDA registration for two products that are the De Legunbres. To prepare De Legunbres, olive with water. Our De Legunbres Muffin, and you prepare olive with water and oil. And our De Legunbres pizza dough. It's an interesting product. The pizza dough because it's a product created for diabetic people, because it's a mix of cereals with legumes and with a low of glycemic index. So in the next five months, we will have the products on different eCommerce platforms in the United States. We decided to start on eCommerce platforms to get to know us in the United States, and then start conversation with supermarkets and distributors once the product has been tested and validated in the market.

            In another way, we recently awarded another project to get our products to Canada. And we are already working on compliance and obtaining certificates, so that in the next seven month, we will make the first shipment of products to Canada. And for Mexico, we have four products ready to offer. We have already started conversation with supermarkets and distributors in Mexico with the [foreign language 00:13:42] and other Chilean government institution. And we have to finish conquering the market in Chile. And in another way, P&M is not only food development. At P&M we work in research. We are finishing two research projects, one for the treatment of arthritis. It's a combination of natural ingredients with antiinflamatory and antoxidants to reduce the pain in your body, when you have arthritis. And the other project have a focus in improving the immune system. Try the consumption of blood ingredients with antioxidant, antiflamatory and functional effect with protected, with nanotechnology to increase the absorial, the availability and effectiveness. We work with in nanotechnology and microtechnology because it's my expertise area.

Nicole Astra: Wow, I am so glad that you are making these announcements here with us on Talking Plant Protein. And it's also important to note how hard work and positivity go a long way. I appreciate your time today. Thank you so much, Manuel.

Dr. Manuel Palma: No, thank you very much. Thank you very much for the interview.