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Daily news and analysis about the food tech revolution

accelerators

IndieBio Cofounder Ron Shigeta Launches Virtual Accelerator

Longtime food and biotech investor and entrepreneur Ron Shigeta is rolling out a new virtual accelerator called iAccelerate.tech.

Shigeta established himself as a food tech pioneer as a cofounder of one of the very first future food and ag accelerators in IndieBio, where he helped some of today’s biggest names in future food such as Geltor and Upside Foods (then Memphis Meats) get off the ground. Since that time, Shigeta helped launch plant-based pet food company Wild Earth and more recently has been acting as an independent investor and advisor to various biotech and food tech startups.

From Shigeta’s Linkedin post announcing the move:

It’s a big day! I’m rolling out my advisory work as a virtual accelerator and I’d like to invite my network and their friends to join us!

Building at IndieBio has created a $4B+ portfolio. in the past 2 years TurtleTree, Inner Cosmos, SolarBioTech, Orbillion Bio (YC W21) , BloodQ, Inc, Juicy Marbles, Finless Foods (and some who are not out in public yet) has taken things to a new level for me and the #BioTech Startup world.

With iAccelerate, Shigeta is essentially taking his consultancy and investing work and formalizing it.

“I worked to find what I thought would be a next-generation accelerator structure,” Shigeta told me over Linkedin. “It’s a very small operation – 5-10 companies a year with lots of attention to detail.”

According to Shigeta, his new accelerator will take in 1-2% in equity for each company, a significantly smaller share than a traditional accelerator like TechStars that typically takes roughly 5% of a company.

As part of the launch of iAccelerate, Shigeta is also launching an investor syndicate.

“My latest stage in the evolution is to offer some investments on AngelList,” said Shigeta. “The Syndicate just lets investors elect to take the deals they like and offers the terms that the VC sees.”

While Shigeta has made a name for himself helping biotech-focused startups get up and running, his new accelerator shows he will look beyond the future food space. One of the first companies in the accelerator is Bite Ninja, a startup from Memphis that helps staff quick service drive-thrus with remote workers via telepresence.

“I really like to work with companies who are are just wrestling with an outrageous idea and we work together sometimes for months just to get it together to present and show MVP,” said Shigeta.

Barilla’s Venture Arm Is Launching the Fourth Cohort of Its Good Food Makers Accelerator. Applications Are Open

Pasta-maker Barilla’s Venture Group, BLU1877, announced this week that applications are open for the next cohort of its Good Food Makers accelerator. According to a press release sent to The Spoon, the forthcoming program will be BLU1877’s fourth since starting the accelerator in 2018 with San Francisco, California-based incubator Kitchen Town.

Past participants to the eight-week Good Food Makers program include Plant Jammer, Renewal Mill, and Regrained, among others. Typically, each startup chosen to participate in a cohort receives $10,000 to use for business growth during the program as well as mentorship opportunities and the possibility of further collaboration with Barilla. Those chosen for cohort four can expect the same set of benefits.

For this latest cohort, Good Food Makers is looking for companies developing solutions for the following:

  • Circular Economy: Companies developing circular-economy solutions for upcycling pasta regrind, wheat brand, and bread crust
  • Better Food Delivery: Solutions that improve the preparation, logistics, automation, packaging, and recipe development of food delivery
  • Digital Nutrition Guides: Digital platforms that address the nutrition and sustainability of food items
  • Easy Meal Routines: Healthy meal kits and services

Good Food Makers has always run small in terms of the number of companies it selects for each cohort. This time around, the program will pick one startup for each of the above topic areas. In addition to specializing in one of the topic areas, applicants should also have, according to the announcement, “proven business results” and the “ability to demonstrate transformative ideas and approaches to supporting a better food system.” As with past cohorts, Kitchen Town will help with the selection process.

The program will kick off in September. For now, all programming is virtual, though BLU1877 notes that there is a possibility of in-person collaboration depending on the location of the chosen teams and current COVID-19 regulations.

Applications are open through August.

Big Idea Ventures Unveils the Third Cohort for Alt-Protein Accelerator

Food tech investment firm Big Idea Ventures (BIV) this week unveiled the companies chosen for Cohort 3 of its alt-protein-focused accelerator program. Fifteen early-stage startups will participate in the five-month-long program, either in NYC or Singapore, according to a press release sent to The Spoon.

BIV looks for companies developing both plant-based and cultured protein products and ingredients. Food tech companies related to the alt-protein space are also considered. Past program participants include companies from the plant-based protein space, cultured protein, and corresponding technologies. Evo, MeliBio, and WTH Foods have all taken part in the program.

BIV says its third cohort is focused on sustainably feeding a growing world population.To that end, chosen companies include:

NYC Program:

  • AquaCultured Foods: A seafood alternative using microbial fermentation
  • The Frauxmagerie: A plant-based cheese using cultures without dairy
  • Innocent Meat: A B2B cell-based meat production system
  • incrEDIBLE: An edible cutlery to reduce single-use plastics
  • Blue Ridge Bantam: A cell-based ground and whole-cut turkey
  • New Breed Meats: Plant-based burgers, grounds and sausages
  • Plant Ranch: Plant-based Mexican meats

Singapore Program:

  • Angie’s Tempeh: Tempeh fermentation technology to create protein-rich foods
  • Animal Alternative Technologies: Cell-based meat services including bioreactors and software
  • Farmsow: A B2B ingredients company developing sustainable alternatives to tropical oils and animal fats
  • GreenGourmet Foods: Plant-based dairy 
  • Haofood: Alternative chicken protein from peanut focused on the Asian market
  • MAD Foods: A plant-based beverage 

Two companies — plant-based yogurt maker Wellme and a food tech startup called Meat. The End — will participate in both NYC and Singapore.

Beside $125,000 in cash investment and $75,000 on in-kind investment, chosen companies also get access to co-working space, including test kitchens, for the duration of the program, as well as mentorship and networking opportunities.

BIV is also currently taking applications for Cohort IV, which will take place during summer 2021. Applications are taken on a rolling basis.

Startups: Applications Are Open for Big Idea Ventures’ Alt-Protein Accelerator

Alt-protein food tech accelerator Big Idea Ventures (BIV) announced this week that it is now taking applications for its fourth cohort. According to a press release sent to The Spoon, the five-month-long program will take place in three locations this time: New York, Singapore, and Paris.

For these accelerators, Big Idea Ventures looks for companies developing both plant-based and cultured protein products and ingredients. Food tech companies related to the alt-protein space are also encouraged to apply.

Beside $125,000 in cash investment and $75,000 on in-kind investment, chosen companies also get access to coworking space, including test kitchens, for the duration of the program, as well as mentorship and networking opportunities. Companies will also get to interact with BIV’s limited partners, a group that includes AAK, Bühler Group, Givaudan, Tyson Ventures, and others. 

Chosen companies will ideally have an initial product already validated through sales and ready to scale. On the program’s website, BIV says it is looking specifically for companies developing plant-based products, cellular ag companies, ingredient creators, and those making enabling technologies. 

Because of the pandemic, cohort four will be remote as of this writing. This is a tactic that’s been used by other food tech accelerators over the last year, and a trend that will likely continue for the foreseeable future. For BIV participants, this is actually advantageous, as the organization says companies can leverage resources from all three programs, even if they are only enrolled for one.  

Those interested in applying to BIV’s program can do so here. Applications are taken on a rolling basis, which means the sooner the better in terms of turning one in.

StartLife Announces 8 Agrifoodtech Startups in its Sixth Cohort

Dutch agrifoodtech accelerator StartLife announced the eight startups that will be part of its sixth cohort starting next month.

The selection of startups reflects StartLife’s mission to accelerate agrifoodtech startups that build a more sustainable food system. From the press announcement emailed to The Spoon, the new companies in the cohort are:

  • CellulaREvolution (United Kingdom) – Continuous cell-culturing technologies
  • Metabolic Insights (Israel) – Novel biopesticides based on botanical molecules
  • Enzymit (Israel) – Designing novel enzymes with computational algorithms 
  • Revo Foods (Austria) – Producing plant-based seafood with 3D food printing
  • Sera Intelligence (Switzerland) – AI-driven horticultural consultant in your pocket
  • Blomitec (Netherlands) – Breeding disease-resistant crops
  • Cano-ela (Netherlands) – Plant-based ingredients less refined and more functional
  • Helia Biomonitoring (Netherlands) – Sensors for real-time biomolecular monitoring

Spoon readers may recognize two names off the list from our previous coverage. CellulaREvolution raised a $1.37 million Seed round of funding last month for its serum-free meat cultivating technology. And Revo Foods changed its name from Legendary Vish last month, and announced it was making plant-based smoked salmon strips and smoked salmon spread.

The StartLife accelerator programs runs for 12 weeks, and provides business development support, mentorship, non-dilutive funding and access to startups, corporate leaders and investors. The press release didn’t specify how much of the program will be virtual. In 2020, the pandemic shifted participation in many accelerators around the world from in-person to remote. As vaccines roll out and the pandemic recedes, we will see how many accelerators go back to strict in-person attendance.

After successful completion of the program, StartLife offers a €25,000 (~$30,000 USD) pre-seed loan with the potential of another €50,000 (~$60,000 USD) after validation of a startup’s growth strategy. StartLife says that for truly exceptional startups, it offers loans up to €250,000 (~$300,000 USD).

Kroger’s Zero Hunger/Zero Waste Foundation Is Taking Applications for Its Innovation Accelerator

Startups, take note. The Kroger Co. Zero Hunger | Zero Waste Foundation (aka, the “Foundation”) is now taking applications for the second cohort of its Innovation Fund. The program, done in partnership with Village Capital, looks for companies developing new technologies, processes, and other solutions that combat food waste.

The Foundation says this could include rescuing and upcycling “imperfect” food. “Upcycled food is the next frontier in recovering and repurposing food that may otherwise go to landfills,” the Foundation said in a statement this week. In this context, upcycling could mean either using discarded food to create new foods (e.g., upcycled cookies), ingredients, or even meal kits. The program also lumps food rescue — selling surplus food to consumers — as part of the upcycling process, too.

Both areas are becoming more popular in the U.S., with companies like Imperfect Foods, Misfits Market, Renewal Mill, and Goodfish leading the way. Imperfect was actually a part of the first cohort for the Innovation Fund, along with Food Forest, mobius, Replate, and others. About 400 startups applied for the first cohort, so we can expect as many if not more vying for a spot in this next installment of the program.

The six-month-long Kroger program includes one week of virtual programming followed by monthly cohort sessions. The entire program runs from late May through November 2021.

A total of 10 startups will be selected from the applicant pool. Selected companies each receive $100,000 in upfront seed grant funding, with the chance for an additional $100,000 grant based on “achievement of identified program milestones.” Virtual workshops that cover investment readiness and technical skill development, and also provides networking opportunities with mentors and potential investors.

Two startups of the chosen 10 will be picked at the end of six months to receive an additional $250,000 in funding.

Applications are open until April 1, 2021.

SOSV to Retire the Food-X Food Tech Accelerator

Venture fund SOSV announced today it is retiring its Food-X accelerator program, which the company founded back in 2015. Moving forward, startups that apply with SOSV will be funneled into either its IndieBio or the HAX programs.

In a blog post on Medium, SOSV’s Shawn Broderick wrote that since starting Food-X, his company has seen “a clear pattern” for food startups emerge: “Those promising the most radical innovation landed at our ‘hard tech’ oriented accelerators, notably IndieBio but also HAX, where they benefited from the deep technical resources those programs offer.”

The IndieBio accelerator, in particular, has fostered some of the food tech world’s most notable startups over the years, including Memphis Meats, Perfect Day, and NotCo. Broderick’s Medium posts suggests accelerators like this are the best places to cultivate major innovation in the food industry. “Our decision to retire the Food-X accelerator is a recognition that IndieBio has emerged as our best setting for disruptive food startups,” he wrote.

Over a phone call today, Food-X Partner and Managing Director Peter Bodenheimer told me the massive successes of some of those cellular ag-related companies ultimately shifted SOSV’s focus more towards those areas.

Going forward, founders in the SOSV family working on biology and sustainable engineering challenges will go to IndieBio, while those working in production, automation, and consumer devices will go to HAX. SOSV will still run its Chinaccelerator and MOX programs.

Food-X was one of the first food tech accelerator programs in the U.S. and grew to become one of the country’s largest. It wasn’t unusual for the program to receive 500-plus applicants for each cohort. Over the years, the program was home to 11 cohorts and over 100 startups.

Bodenheimer said that in that time, he and his team built a strong community and network of mentors around the food space in New York, where Food-X was headquartered. The hope is that the community continues to grow and thrive even after Food-X has closed its doors for good. 

 

Applications Are Open for THRIVE’s Ag Tech Accelerator Program

SVG Ventures’ THRIVE platform, which connects farmers, food tech companies, corporations, and investors, is now taking applications for Cohort VII of its THRIVE accelerator program. Typically, the program looks for seed-stage startups from all over the world whose solutions have a tech angle and aim to make the agricultural system more efficient, sustainable, and secure.

The upcoming cohort will run March through June, 2021, according to email from THRIVE sent to The Spoon. Selected companies will participate in the three-month-long program. Like other accelerator programs operating in the midst of the pandemic, Cohort VII will be a mix of virtual and onsite work, with the latter being in the Salinas and Central California growing regions.

THRIVE’s program looks for early- to growth-stage startups working in a number of different areas of food tech: robotics and automation, indoor farming, supply chain management, and biotech, to name a few. Trace Genomics, FarmWise, and Harvest Automation are a few notable alumni of the program. 

Admission to the program is competitive: THRIVE has said in the past it has an acceptance rate of less than 3 percent and pulls from an applicant pool of more than 500 startups from around the world. Of those, just eight are chosen to participate in the accelerator program.

Selected companies receive $75,000 investment ($37,500 in cash and $37,500 in program value). The program website notes there is opportunity for follow-on investment. Startups also receive mentorship opportunities and access to corporate partners and farmers via the THRIVE network. The program ends with a Demo Day at the annual Forbes AgTech Summit.

Separate from the accelerator program, this year SVG /THRIVE have also launched the THRIVE Global Initiative in partnership with the U.S. Department of Agriculture (USDA) and the U.S Department of State. Through a series of “challenges” in different regions around the world, THRIVE will award startups for innovative solutions, beginning with the THRIVE Australia Challenge on December 17, 2020. Challenges in Canada and Africa will follow in 2021.

Meanwhile, the THRIVE accelerator program kicks off in March 2021. Applications are open until November 20, 2020.

Scrum Ventures Launches a New Program, Food Tech Studio – Bites!

San Francisco-based VC firm Scrum Ventures just announced Food Tech Studio – Bites!, a food tech-focused program that looks to bring together a variety of companies innovating across the food industry.  

Speaking on the phone this week, Michael Proman, Managing Partner at Scrum Ventures, said the program is something of a reinvention of the traditional accelerator model. Instead of early-stage companies receiving investment and mentorship in exchange for equity, Food Tech Studio is more about helping companies at any stage cultivate long-term relationships across the food industry: with corporations, other entrepreneurs, and industry thought leaders alike. And since the program’s partners include several Japan-based companies (see below), building relationships in the Japanese market will be a major (though not the only) focus.

As to the types of companies Food Tech Studio is looking for, the range is intentionally broad. Applicants might include everything from supply chain management solutions to food waste companies to food producers reimagining how a CPG brand could change what we eat.  

“We’re trying to create a very diverse community of companies,” Proman said. He adds that many food tech companies nowadays fit into more than one category (e.g., food waste and food traceability), and that casting a wide net will allow the program to bring together companies, partners, and mentors who might not normally mix in a traditional accelerator setting. In Proman’s own words, it’s “bringing together folks that would otherwise not have come together but have common points of interest.”

“Anytime you have upwards of 100 startups coming together from around the world, particularly startups that are at different stages or areas of the industry, I think there are a lot of opportunities [for] conversations that wouldn’t normally be taking place,” he adds.” This in turn can lead to more collaboration between the different verticals within the food tech industry.

Adding to the diversity is the list of the program’s partners, which includes Fuji Oil, instant-noodle innovator Nissin, tea company Itoen, Juchheim, the Otsuka group, and food distribution company Nichirei. 

A virtual format helps with the program’s cross-discipline-like approach. Like other programs that have kicked off in the last several months, Food Tech Studio will be online, as the pandemic makes it difficult to conduct any in-person sessions. 

Proman said the program will choose between 75 and 100 companies to participate, though they’re not married to a specific number. (“We don’t have a quota,” says Proman.) Applications are open right now and the program is slated to begin in early 2021.

The Real California Milk ‘Snackcelerator’ Opens Applications for Dairy Startups

You’ve heard about the uptick in snacking thanks to the pandemic. But perhaps no one is taking the rise of snacks more seriously than the California Milk Advisory Board (CMAB). Today, the organization announced the return of its product innovation competition dubbed the Real California Milk Snackcelerator. 

The competition looks for food producers that integrate the flavor and functionality of California dairy products into snacks. A blog post outlining the contest lists several products that “speak to the type of innovation” CMAB “is looking for.” Those products include a Keto- and diabetes-friendly ice cream treat, probiotic snack bars, Kombucha yogurt, and something called “cheese wraps.”

“The goal of this competition is to tap into our global obsession with snacking to inspire new ideas and help clear the hurdles to bringing these products to market,” CMAB CEO John Talbot said in today’s press release. 

As of the end of June, snack consumption was up 8 percent, according to NPD. And in today’s press release, CMAB cites Mondelez International, which recently found that 59 percent of adults worldwide prefer snacking to meals.

Companies interested in CMAB’s competition should have products that use cow’s milk as their first ingredient and making up 50 percent or more of their formula. Companies that win must commit to producing their products in California, using California dairy farms for milk. 

Up to eight companies will get “up to $10,000 of support” to develop a prototype as well as mentorship and guidance around packaging, distribution, marketing, and other areas of running a food business. They also receive an all-expenses-paid “business development trip” where they will tour dairy farms and meet individuals in that industry. The overall winner gets “up to $200,000 worth of support to get their new product to market.”

While the snacks market is thriving, the dairy industry has had a rougher time of it lately. U.S. milk sales have been declining for decades, especially with the rise of plant-based alternatives. Two major milk producers so far, Dean Foods and Borden Dairy, have filed for bankruptcy.

However, sales of dairy rose thanks to the pandemic: From January through July 18, U.S. milk retail sales were up 8.3% to $6.4 billion, according to Nielsen. And the sector definitely has its pockets of innovation, with a notable example being the Dairy Farmers of America’s startup accelerator, which has a similar mission statement to that of CMAB: to bring more agility and innovation into the dairy sector.

Still, dairy companies have a long haul ahead of them. Finding nimble, innovative startups with new approaches to dairy products could help the industry stay relevant at a time when alternative protein is steadily on the rise. Feeding into the highly popular market for snacks doesn’t hurt, either. 

Applications for the Snackcelerator are open until August 28, 2020.

Thailand’s SPACE-F Opens Applications for Its 2020 Accelerator and Incubator Programs

Asia-based food tech startups, take note. SPACE-F, an accelerator and incubator program in Thailand, is now taking applications for Batch-II of its program (h/t Green Queen). The program works with Southeast Asian startups working to improve a number of areas across the the food and be industries.

Batch-II, which officially kicks off in October 2020, will consist of both an accelerator and incubator program.

SPACE-F was founded in 2019, making it a relatively new entrant to the food tech accelerator/incubator space. Program founders NIA, Thai Union PLC, and Mahidol University have partnered with ThaiBev for Batch-II.

The biggest differences between accelerator and incubator programs has to do with the stage of growth participating companies are at. Accelerators tend to work with early-stage companies looking to grow, while incubators tend to host companies that might not yet be ready to commercialize. (Read our full breakdown of the differences here.)

Reflecting those differences, SPACE-F’s program invites companies with compelling prototypes and ideas to apply for its incubator, while startups wanting to join the accelerator should already have a product/technology and customer traction. The accelerator runs four months, and the incubator runs 9–15 months, depending on the specific company. 

All participants will be working to solve challenges in the food industry, though SPACE-F’s range of areas is quite wide. Alt-protein, restaurant tech, manufacturing, novel ingredients, and food safety are just a few of the areas listed on the SPACE-F website. 

Participants will receive equity-free investment (a specific sum isn’t named), mentorship, networking opportunities, and access to SPACE-F’s facilities. That said, SPACE-F notes on its site that because of COVID-19, at least part of the program will take place virtually. As is the case with other startup accelerators and incubators, when and how any in-person sessions will take place will depend on the changing nature of the coronavirus crisis. 

Applications for SPACE-F are open until July 12, 2020.

Chipotle Announces the Eight Ventures for Its Second Aluminaries Project Accelerator Program

Chipotle today unveiled the eight ventures selected for the second class of its Chipotle Aluminaries Project, the food-focused accelerator program the company does in partnership with non-profit Uncharted. This year’s company’s are all growth-stage startups addressing the problems currently facing young farmers and small farms, reliable access to farmland being a major one.

Around the U.S., the average price of farm real estate has more than doubled, according to the National Young Farmers Coalition. The Coalition also notes that over the next five years, almost 100 million acres of farmland will change hands, and that at least some of it will go towards non-agricultural uses. 

Given that diminished access to land, the bulk of the companies and organizations chosen for Chipotle’s Aluminaries Project 2.0 are developing solutions to address the land access issue:

  • Agrarian Trust is a land trust working to acquire and hold farmland and provide farmers access to it through long-term leases.
  • American Farmland Trust helps new farmers gain access to land through national and localized networks and services in order to transfer farms from one generation to the next.
  • Demeter Mobile uses an app to pair growers with service providers (harvesting, sweeping, etc.).
  • Farm Commons provides legal resources to farmers.
  • F.A.R.M.S also offers legal services to the farming community.
  • Rogue Farm Corps provides farm-training programs in agricultural communities across Oregon.
  • Sustainable Iowa Land Trust protects Iowa’s farmland.
  • Viva Farms provides bilingual training in organic farming practices, as well as access to land, infrastructure, equipment, marketing, and capital.

The selected companies participate in the seven-month-long program, which connects them with mentors, potential investors, and support from Chipotle executives as well as others from around the food industry. While most of the program is conducted virtually, there is a five-day in-person summit companies attend in Newport Beach, CA. There’s no cash investment involved, but participants do get free burritos. 

Chipotle launched the Aluminaries Project in 2019. It has so far seen participation from ImpactVision, Sophie’s Kitchen, and AgVoice, among others.