The Ferment Fund will exclusively support companies that have been spun out from Ginkgo and will benefit from full access to the company’s platform for cell programming.

Chief scientist Yaakov Nahmias says the start-up’s methodology means it only takes 14 days to produce cultured chicken or beef, whether it is producing 1kg or 1 tonne of meat.

Head of venture capital at the Cibus Fund Alastair Cooper says the firm believes synthetic pheromones have the best chance of replacing traditional chemical insecticides.