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Dive Brief:
SnackFutures, Mondelez International s innovation and venture hub, announced the first nine startups participating in its recently launched CoLab, a program for early-stage well-being snack brands, the CPG giant said. Each brand will participate in a 12-week curriculum and receive a $20,000 grant.
The companies participating in the inaugural class include: Elite Sweets, a Keto doughnut brand run by founders who each lost more than 100 pounds; NuSkool low-sugar snacking platform; 12 Tides, a nutrient-dense snack made from kelp sourced from regenerative ocean farms; and the Better Bites Bakery allergen-free line, created by a founder whose son had life-threatening food allergies.
Big food companies, including PepsiCo, Danone, Chobani and General Mills, have started their own incubators to expedite their entrance into fast-growing trends in the food space such as better-for-you, natural, clean label, plant-based and functional.
Dive Brief:
SnackFutures, Mondelez International s innovation and venture hub, launched CoLab, a new startup engagement program for early-stage well-being snack brands, the CPG giant said in a statement.
The 12-week CoLab program is customized to each participant’s business challenges and growth priorities. Up to 10 startups will be chosen to participate and receive a $20,000 grant. Mondelez will provide the businesses with tools, technologies and access to networks and industry expertise, while the large CPG gains insights, capabilities and prospective investment opportunities.
Mondelez, the snacking giant known for iconic brands such as Oreo, Ritz and Triscuit, has been aggressively bulking up its portfolio through acquisitions and by launching or making minority investments in startup brands.