Could real meat grown without animals be cheaper than traditional farming? And could Australia become one of the best places in the world to launch it?

In this episode of Pick My Brain, Alan Jones is joined by Paul Bevan, founder of cultivated meat startup Magic Valley, to explore how second-generation food tech is reshaping the economics and investability of cultivated meat. Paul pitches Magic Valley’s approach to growing real meat from animal cells, without livestock, and explains why minced products like lamb and pork are the logical first step to reaching commercial scale.

Alan and Paul unpack why earlier cultivated meat companies struggled, how advances in equipment and cell culture media have dramatically lowered costs, and what that means for investors assessing deep tech risk today. They also dig into Australia’s surprisingly strong regulatory framework for novel foods, Magic Valley’s decision to launch locally first, and how to raise deep tech capital without burning hundreds of millions of dollars.

Along the way, Alan shares practical advice on investor communication, momentum, and signalling progress, while Paul reflects on the challenge of telling one coherent story to impact investors, deep tech funds, and commercial partners at the same time.

If you are building in food tech, climate tech, deep tech, or navigating complex investor messaging, this episode is packed with hard-earned insight.