August may be vacation time for many. But in the world of food tech accelerators, it’s business as usual, with a fresh offering of programs taking applications throughout the month. Some are courtesy of major corporations, others have sprouted from more local operations. All are in search of startups using technology to change the way we farm, transport, cook, and eat our food.
To keep you up to date on the many, many programs out there and what they offer, every month The Spoon picks a few of our faves and shares their basic details. Since this is never an exhaustive list, if you have a suggestion for a food tech accelerator or incubator you don’t see here, email us so we can be sure to consider it for future versions of this post.
Brinc’s Food Technology Accelerator Program
Brinc operates its three-month-long Food Technology Accelerator Program twice a year in Hong Kong. The program has a very specific list on its website of areas it will invest in: plant-based alternatives, processed food or food ingredients, cooking aides, functional foods, sports performance foods, insect proteins, biodegradable food packaging, and animal/plant agricultural solutions. Startups who apply should have a product that fits into one of these areas. They should also have at least two co-founders and a scalable business model “with high growth potential.”
Brinc offers $80,000 in exchange for 10 to 15 percent equity. (Note that there is a separate $30,000 participation fee, which can be deducted from the investment amount.) Additionally, participants receive in-house mentorship sessions, customized curriculum, one-on-one office hours, and continued support once the program wraps. Startups are expected to be in Hong Kong for one month of the program for onsite training.
Applications close August 10.
As we covered in-depth last month, GROW is a joint program from VC firm AgFunder and agri-food accelerator Rocket Seeder. It looks for early-stage companies working in the agtech space and using technology to either improve operations on the farm or in the food supply chain. The program also aims to bring more investment to Singapore’s still-nascent food tech space.
Participants receive up to $120,000 in equity funding, $80,000 in-kind benefits, coaching and mentorship sessions, and access to testing labs. They are expected to be in Singapore for at least part of the three-month-long program.
Applications close on August 19.
BSH Future Home Accelerator
BSH hosted the first class of its Future Home Accelerator, powered by Techstars, this year, with ckbk, Pantri, and MealiQ among the participating companies. As BSH is a top appliance maker, the credo behind its accelerator is finding startups innovating on the future of the home — and in particular, the kitchen. The program also welcomes companies working on B2B-focused solutions.
For the three-month program, participants head to Munich, Germany to work with mentors at BSH across the company’s design, engineering, marketing, digital, and business engineering departments. BSH/Techstars will invest $20,000 in each company and receive a 6 percent common stock exchange. All companies participating in Techstars accelerators, including those for the BSH program, get offered a $100,000 convertible note upon acceptance.
Applications close October 13.
APPLICATIONS OPENING SOON
The Food Foundry
The Chicago-based program founded by Relish Works looks for early-stage startups across a range of areas in the food industry, including everything from third-party delivery to blockchain to vertical farming.
For the 16-week program, the Food Foundry provides participating companies with $75,000 of VC funding. They also receive mentorship opportunities with individuals from Relish Works and its program partners, Gordon Food Service and Chicago startup hub 1871. Actual programming is a mix of learning curriculum, mentor sessions, and visits to Gordon’s facilities. According to The Food Foundry’s FAQ, participants should be willing to relocate to Chicago for the program.
Applications open on August 14.