Mondelez International's innovation and venture hub SnackFutures has launched CoLab, an "engagement program" for early-stage, healthy-snack brands. With $20,000 and mentorship at stake, it has an unspecified but fast-approaching deadline.
The program is set to begin in June. To apply, start-ups must be based in the U.S., generating at least $500,000 in revenue, have high growth potential, align with Mondelez priorities and be able to benefit from working with the global snack company and its partners. For more information or to apply for the CoLab program, see www.snackfutures.com.
CoLab is designed to drive mutual growth between entrepreneurs and Mondelez. 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.
It will be a 12-week program customized to each participant’s business challenges and growth priorities with emphasis on providing dedicated attention, 1:1 mentorship, workshops and access to Mondelez assets. 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.
A number of food & beverage companies and others have set up incubators as a way to nurture startup companies and for the sponsors to gain insights, and possibly investments, in novel product ideas.
“With SnackFutures, we create our own brands and invest in start-ups, which gives us a level of empathy and understanding from our own experiences along with the rigor, discipline and insights of a global snacking leader," said Brigette Wolf, Global Head of SnackFutures. "It’s a powerful combination to be able to share with these entrepreneurs.”