Better-for-you food and drink brands can apply for a share in the £1.8 million business accelerator programme
Mission Ventures, the UK food and drink business accelerator, has reopened applications for its impact venture Good Food Fund. The fund comprises £1.8 million and is backed by Big Society Capital and Guy’s and St Thomas’ Charity and was created to ensure that more nutritious food and drink products are accessible to all families.
Since its inception in March 2020, the Good Food Fund accelerator has been working with seven healthier snacking brands. Early results have included establishing new manufacturing partners, the reduction of costs and RSP, retailer partnerships and increased distribution.
The fund’s accelerator programme is lead by Mission Venture’s head of operations, Louis Bedwell.
“We’ve had great success with our first cohort of brands,” said Bedwell. “They represent a good spread of innovation in the snacking market. It’s now time to use our learning and apply this to other categories to ensure we’re truly disrupting the industry”.
Open to all
The second cohort of the Good Food Fund is open to all brands who manufacture and distribute healthier products.
Applications are not limited by category nor stage; however, the accelerator is especially interested in speaking to brands who produce a baby or toddler food.
Selected brands will receive a place on the free twelve-month accelerator, which includes the Mission Ventures MissionMap, an intensive 12-week business review process with a focus on consumer branding, cost model and sales strategy.
The brands will also have the opportunity to access a share of the venture fund, which is managed by the UK’s most active impact VC, Ascension Ventures.
Mission Ventures is led by three entrepreneurs who have co-founded and successfully exited their own challenger brands for a combined total of more than £50 million.
Paddy Willis (Plum Baby), Nigel Parrott (Ape Snacks) and John Stapleton (New Covent Garden Soup Company and Little Dish) are committed to delivering entrepreneurial solutions to help other founders achieve their ambitions.
Willis said: “Whilst government and the industry debate what should be done to tackle obesity, the Good Food Fund represents an immediate and market-led approach to addressing the crisis facing the nation’s health. We look forward to working with more entrepreneurs keen to build a better food environment for all families.”
Mission Ventures have recently launched Batch Ventures, a venturing partnership with UK bakery giant Warburtons.
Date published: 14 September 2020