The corporate venture capital and innovation arm of Mondelēz will select up to 10 US-based start-ups to participate and receive a $20,000 grant
SnackFutures, innovation and venture hub of the Mondelēz International has launched CoLab, a new start-up engagement programme for early-stage well-being snack brands. Up to 10 start-ups will be chosen to participate in the programme and receive a $20,000 grant.
CoLab is deliberately designed to be a collaborative effort between entrepreneurs and the Mondelēz International ecosystem to drive mutual growth.
SnackFutures will provide participating start-ups with tools, technologies and access to networks and industry expertise while also gaining insights, capabilities and prospective investment opportunities.
Brigette Wolf, global head of SnackFutures, said: “SnackFutures is in a unique position of both creating our own brands and investing in start-ups, so we can offer participants empathy and understanding from our own experiences along with the rigour, discipline and insights of global snacking leader,”
Wolf noted programmes like CoLab are more important now as these small brands try to recover and grow out of the challenges presented by the Covid-19 pandemic.
CoLab: A 12-week workshop
CoLab is a 12-week programme customised based on each participant’s business challenges and growth priorities with a key emphasis on providing dedicated attention, 1:1 mentorship, workshops and access to Mondelēz International’s leadership, expertise, resources and networks.
The curriculum will be a combination of virtual sessions and three in-person activities, where and when travel is permitted. Up to 10 start-ups will be chosen to participate in the program and receive a $20,000 grant.
The call for submissions is now open with the programme set to begin in June 2021.
To apply, start-ups must be based in the US, generating at least $500,000 in revenue, have high growth potential, align with the Mondelēz International innovation priorities, and can benefit from working with the company and its partners.
Since SnackFutures launched in 2018, the team has been immersed in the start-up community, travelling around the globe to uncover trends, gain insights, understand entrepreneurs’ business challenges, and fuel the SnackFutures innovation pipeline.
The team has also created and launched five well-being brands in the US and Europe, including CaPao, Dirt Kitchen Snacks, Millie Gram, NoCoé, and Ruckus and Co.
SnackFutures has made minority investments in snack brands Uplift Food, foodtech start-up Torr and Hu. The latter was recently acquired by Mondelēz International.
Date published: 10 February 2021