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Daily news and analysis about the food tech revolution

foodtech accelerators

Food Tech News: Virtual Restaurant Accelerator Progam Launch, Mycelium-Based Adidas Shoes

Welcome to our weekend wrap-up of food tech news from around the web.

Happy New Year! I am excited to both say goodbye to the most bizarre year of my life and share some Food Tech News with you. This week, some news pieces that stood out to us included a new accelerator program for virtual restaurants, Adidas shoes made from mycelium, a vegan-friendly Subway sub, and how you can support New York restaurants with a T-shirt.

An accelerator program for “pandemic-proof” virtual restaurants

The Melon Kitchen Food Entrepreneurship Accelerator will be opening a culinary program to Black and Latinx entrepreneurs to assist in the launch of new virtual restaurants. The program will begin in mid-January and take place at AMP (Artisinal Marketplace) in the tech district of Indianapolis. It is a free three-month program that will accept several cohorts consisting of five to seven participants. Through the use of ghost kitchens and delivery through DoorDash, the program aims to build “pandemic-proof” virtual restaurants. The marketplace will open to the public March 2021, and participants are eligible for start-up funding after the completion of the program.

Photo from Bolt Threads’ website

Adidas shoes made from mushroom leather

Adidas announced that they will be launching vegan-friendly shoes made from mycelium-based leather; mycelium is essentially the root system of mushrooms. To produce this new shoe, the company partnered with sustainable materials producer Bolt Threads, which created a mycelium-based leather called “Mylo“. It is currently unclear when the new Adidas shoes will be available for purchase.

Vegan chicken subs at Subway

Now available at Subways in the UK and Ireland, the T.L.C (tastes like chicken) Sub uses soy protein chicken strips to mimic the company’s classic roast chicken breast strips. The new sub will be fully vegan and will also use Violife vegan cheese. The new menu item was added on December 30th, and it is not yet determined if it will be a permanent menu item. Subways located in the UK permanently added a Beyond Meatball Marinara Sub this year, and last year the same sandwich was trialed in the US and Canada.

Morning News clothing company launches T-shirt to support NY restaurants

Clothing company Morning News launched a T-shirt to help struggling local restaurants in New York. The back of the 100 percent cotton T-shirt reads “Support Your Local Restaurants” in hopes of encouraging residents of the state to remember to do so. Additionally, 40 percent of the proceeds from T-shirts will be donated to restaurant owners and employees through ROAR (Relief Opportunities for All Restaurants). Big cities like NYC have experienced a greater number of closures due to the high cost of rent, and over 1,000 restaurants have permanently closed here since March 2020.

Iowa AgriTech Accelerator Goes Virtual, Application Deadline Extended

The Iowa AgriTech accelerator is following the ranks of other programs and going virtual for its upcoming cohort, according to an email sent to The Spoon. The program has also extended its application deadline to May 1 at 11:59 p.m. Central Time.

Like other food-focused accelerator programs, social distancing has presented Iowa AgriTech with the challenge of delivering a collaborative, immersive experience to its participants while still keeping everyone safe. 

“First and foremost, we wanted to ensure the health and wellbeing of everyone involved, but we also knew how important it would be to continue to provide the support and mentorship that is so vital to the startups, especially at a time like this,” the program’s Executive Director Nadilia Gomez told me over the phone today. 

Under normal circumstances (i.e., not during a pandemic), the Des Moines, Iowa-based program runs for a little over three months, offering startups mentorship and networking opportunities as well as office space in Des Moines. Participants also get $40,000 in seed funding (for 6 percent equity). While the cash investment and the networking opportunities remain in place, this year’s cohort will operate 100 percent virtually, with all programming and curriculum taking place online.

Gomez said that program organizers are very open in terms of which specific tools they will use to deliver a high-quality experience to participants. “I would say that we will try to bring in as many elements as are necessary to ensure the quality of the mentor interaction. That could be the same virtual tool but it could be utilized in different ways,” she said. She added that virtual breakout rooms and whiteboard activities as well as enhanced chat functions are among the options on the table. Since the program hasn’t actually started yet, it remains to be seen which programs wind up being the best options for this cohort.

She added that “More important than the tools is the design of the format so that we have the best interaction.”

Six startups will be selected to participate in the program. While agtech is the main focus of the accelerator, the range of what individual companies do is fairly wide. Gomez said that Iowa AgriTech considers everything from startups working on data transparency to companies creating solutions around automation, sensors, predictive analytics, livestock, greenhouses, and much more.  

Past participants include Rabbit Tractors, maker of autonomous tractors, Phenomics Labs, whose platform does predictive phenotyping, and Birdpreneur, who helps small-scale poultry farmers in Africa scale up their business.

“We historically try to pick a combination of startups that have a strong impact on the farming community,” said Gomez. “But we are not specifically looking for a sub-sector within agriculture.”

How much social distancing changes the program permanently is another to-be-determined factor. Startup accelerators in general are now having to pivot to remote programming, decide whether or not to host things like demo days, and in general operate with some level of uncertainty about the design of future programs. Other programs, including Food-X and BSH, have successfully introduced virtual elements into their programming, which is a good sign for those like Iowa AgriTech, who are just starting out on this digital journey.

At the same time, Gomez made clear that, at least now, being able to bring startups to Des Moines in the future is “the preferred practice for the accelerator.” She cited Iowa’s unique place in the agricultural sector as a big reason in-person programming remains attractive once we’re past the pandemic. However, she added that she could “definitely” see Iowa Agritech using more virtual elements as add-ons to the regular programming for future cohorts.  

The next Iowa AgriTech cohort will run from July 8 – October 16.

Food-X Announces Cohort 11, Its First-Ever Virtual Accelerator Program

Food-X, a hugely popular startup accelerator for food businesses, today announced the eight chosen companies for Cohort 11 of its program. While they vary in focus — food traceability, restaurant tech, pet food, and upcycling — the selected companies all share Food-X’s mission of solving some of the biggest challenges the global food system faces. And for Cohort 11, the companies share something else in common: They are part of Food-X’s first-ever virtual cohort.

While many food accelerator programs operate remotely or through a combination of remote and onsite work, Food-X’s NYC-based program has historically always been done onsite and in-person for its three-and-a-half-month duration. That was in a pre-pandemic world, though. With most states still locked down to stem the spread of COVID-19, and with NYC getting hit especially hard with cases, holding a program onsite is more or less impossible at the moment.

As far back as the beginning of March, the Food-X staff was preparing for this possibility. Program Director Peter Bodenheimer told me over the phone last week that they had initially considered pushing program’s start date back a couple weeks. When it became obvious that two weeks would be something of a drop in the bucket in terms of statewide shelter-in-place mandates, the program decided to pivot to an entirely virtual model for the first time ever.

That’s included using video chat in place of the standard office drop-ins, doing virtual “coffee breaks” with the participants, and finding alternative ways for companies to meet with potential investors in place of the usual “demo day” event.

The results, it turns out, have been a pleasant surprise. “It’s been even better than I hoped it would be in terms of engagement,” Bodenheimer said. “It feels like it’s been one of the most engaged cohorts we’ve had ever.”

That’s significant, considering this particular cohort is also Food-X’s most diverse ever in terms of where companies are located. Milk Moovement, which makes supply chain software for the dairy industry, is headquartered in Canada. Health supplement maker Rambuhealth hails from Costa Rica. Latin American restaurant tech company remotekitchen works out of Mexico City, while ingredients marketplace Fieldcraft is from Austin, TX. 

Normally these companies would all converge at the Food-X offices in Manhattan. Now, like the rest of us, they are being forced to carry out normal business in abnormal circumstances. And, as Bodenheimer sees it, they’ve more than stepped up to the task: “The companies have been incredibly active and incredibly engaged. They’ve rolled with the punches, and that’s a great signal from an investment standpoint. We’ve made a good investment because on some level these companies have barely skipped a beat.”

Food-X hasn’t yet decided if the success so far of this virtual accelerator will permanently change the program’s format moving forward. “I could see something where we do a hybrid where there’s a portion that’ sin person, a portion that’s remote,” says Bodenheimer.

In the meantime, here’s the full Cohort 11 roster, as outlined in a press release from Food-X:

  • Bramble: A fresh, 100% plant-based pet food company that aims to consciously boost your pet’s diet.
  • Ester: A startup harnessing science and AI to develop hyper-personalized customer flavor profiles for retailers of beer and wine.
  • Fieldcraft: The first B2B marketplace for commodities and ingredients built to simplify sourcing from growers to manufacturers.
  • Living Food Company: A managed consumer marketplace offering access to fresh, clean and delicious food made by world-class farmers, bakers, brewers and other food artisans.
  • Milk Moovement: A startup that is providing actionable intelligence across the dairy supply chain through its cloud-based software.
  • Nature Preserve: A sustainable food tech brand that is upcycling produce to minimize waste and maximize health via a proprietary food preservation process. First up: Lovi Smoothies, a natural plantbased mix packed with nutrients for use in smoothies, shakes, baking, and beyond.
  • Rambuhealth: A venture leveraging the antioxidant-dense shell of Rambutan for heightened health benefits, which can be found in their food bars, supplements and ingredient offerings.
  • remotekitchen: A single unified platform to empower restaurants to run, manage and grow their business effectively.

Bodenheimer suggests a point I’ve heard mentioned frequently over the last few weeks — that the pandemic’s complete disruption of day-to-day business is forcing most to rethink norms and experiment more. Startups, too, are inherently more open to taking risks typically, and those that do may actually find some upsides to this situation. “Downturns tend to be a great time for companies to start because there’s less noise, less frothy money being flopped around to companies that may not be as great,” he says.

Food-X is currently four weeks into Cohort 11, and already taking applications for Cohort 12, which will kick off in the fall of 2020. Whether that will be an in-person or virtual affair is anyone’s guess right now.

Plant Jammer, TrusTrace Join Cohort 2020 of Bloomer’s Food Tech Accelerator

Plant Jammer, TrusTrace, and six other food tech startups have been selected to join the 2020 cohort of Stockholm, Sweden-based accelerator program Bloomer. The program is new, and a joint effort from supermarket chain Coop Sweden, startup investor Norrsken, and Sweden FoodTech. 

Like other food tech accelerators, much of the emphasis of the program will be on helping the chosen companies further develop products and services that contribute to a more sustainable, eco-friendly food system:

Companies who join the program must relocate to Stockholm, Sweden for a mandatory 12 weeks starting at the end of March, with an optional extension that runs through September. Programming is a combination of standard curriculum — what Bloomer calls “The Frame” — as well as more customized learning based on each individual startup’s goals and needs. According to the program’s website, participating companies receive $250 SEK against equity, mentorship opportunities, and access to Coop’s data, customers, and industry connections. 

Startups should plan to relocate to Norrsken’s coworking space in Stockholm, Norrsken House. 

Eight companies total were chose for the 2020 cohort:

  • Volta Greentech makes an algae-based feed supplement for cows that reduces their methane production by up to 80 percent.
  • Foodla is a food market app where food producers can sell their products to local communities.
  • Plant Jammer has an AI-powered platform that creates personalized recipes for users based on their diets, food preferences, and fridge contents.
  • Lunch.co is an online marketplace for work colleagues to buy and sell home-cooked lunches.
  • Leafymade makes plastic-free, 100 percent biodegradable bowls, plates, cutlery, and other items meant to replace single-use disposable products.
  • Vembla has an e-commerce platform selling groceries, household goods, and pharmaceuticals from local retailers. 
  • Grönska is building out its own AI-powered vertical farming system that grows leafy greens using hydroponics.
  • TrusTrace collects, verifies and analyses data to improve traceability across the food system.

The program kicks off March 30. Those interested in applying for future cohorts should check out the program criteria here.

Dear Startups: Kick Off 2020 by Applying to One of These 3 Food Tech Accelerators

If joining a startup accelerator program is in your plans for 2020, it’s never too early to get a jumpstart on the competition. First, if you haven’t already, read up on who should ideally apply for these companies, and why (hint: you shouldn’t be doing it for the money). Then, check out the programs below to see if they fit your company’s goals for growth. Note that some of these application deadlines close soon (like, tomorrow).

We update this list monthly, so if you don’t see what you’re looking for, check back February for a fresh list of programs. 

FoodFutureCo
New York City

NYC-based FoodFutureCo looks for companies it can help move from early product-market phase to the mainstream, with specific focus on plant-based food, agtech, sustainable seafood, and fighting food waste. Plant-based frozen meal maker Zoni Food, ethical food brand Eat Nice, and analytics platform Farm Fare are all past participants of the program, which was founded in 2015.

The five-month-long program looks for companies on track to gross more than $1 million in annual sales. Four to eight startups are chosen for each cohort. Participants receive up to $10,000 (for 4 to 8 percent equity) along with mentorship opportunities and potential follow-on investment.

Applications close December 31, 2019.

Brinc Food Technology Accelerator
Hong Kong

Brinc’s Food Technology Accelerator covers a wide range of what it calls “investment verticals”: agtech, alt protein, cellular agriculture, packaging, food safety, supply chain, and food waste. Startups looking to join the program should have a product-market fit in one of these verticals, along with a defined business model. According to the program website, companies must be willing to incorporate in Hong Kong and, ideally, want to deploy their product or solution in the Southeast Asian market. 

Unlike many programs, Brinc charges a $30,000 participation fee for the program, though this can be deducted from the $80,000 investment Brinc gives each participating company (for 10 to 15 percent equity). Startups also receive mentorship, customized curriculum, access to potential investors, and post-program support. Companies must be present in Hong Kong for six weeks of the program for onsite training.

Applications close February 17, 2020.

Coming Soon . . .

Techstars Farm to Fork
Minneapolis-St. Paul, Minnesota

A partnership with Cargill and Ecolab, Techstars Farm to Fork program looks for startups and entrepreneurs working up and down the food chain, from agtech and manufacturing to food safety, traceability, and waste reduction. Techstars looks specifically for companies using tech to solve problems in these areas, as program alumni like Spoonshot and  Renewal Mill have done.

Chosen participants get a $100,000 convertible note along with mentorship and networking opportunities and access to potential investors. They also get workspace, as relocation to the Minneapolis-St. Paul area is required for the duration of the three-month-long program. 

Applications open on January 6, 2020.

Should You Join a Food Tech Accelerator for the Money?

Here’s a question for you food tech startup CEOs out there: should you join a food tech accelerator just for the money?

Definitely not, at least according to Tessa Price of WeWork Food Labs and Peter Bodenheimer of Food-X.

Of course, funding is funding and can be hugely important for any startup’s growth, but there are more important reasons to join an accelerator say Price and Bodenheimer, both of whom joined me for a live conversation this week in what was our first Foodtech Fireside chat.

One of the main reasons a startup shouldn’t make funding the one and only reason to join an accelerator is the equity ask is going to be bigger than with other forms of funding.

“There’s cheaper money out on the street than accelerator money,” said Bodenheimer. “The deal structures in accelerators for investment typically are different from what you’ll see from just an investor not running an accelerator.”

And while it may seem obvious on its face, another important reason, quite simply, is in the name.

“They have potential to accelerate the growth of a startup in a very compact period of time,” said Price. “The value in the ecosystem is that accelerators provide a fairly safe environment to come together and access resources in a way they aren’t able to when they are dealing with a more traditional VC or angel investor.”

Then there’s also community and connections to the food tech ecosystem that come from spending two to three months in an accelerator.

“Having a density of entrepreneurs working in similar types of businesses, that leads to good things,” said Bodenheimer. “Having a support community is really important, and so is being able to leverage the network an accelerator can bring.”

Finally, food tech accelerators give startup CEOs a unique once-in-a-lifetime opportunity to step outside of the business and look at what they are doing through fresh eyes.

“There’s a saying: sometimes you’re too busy working in your business to work on your business,” said Bodenheimer. “An accelerator gives you an opportunity to work on your business with focused effort.”

We’ve turned the fireside into a podcast you can listen the full conversation with Tessa Price and Peter Bodenheimer on Apple Podcasts or by clicking play below, or you can also listen to and download the episode directly with this link.

Food-X Unveils the 8 Startups Chosen for Latest Accelerator Class

This morning foodtech accelerator Food-X announced the eight startups chosen to participate in its Cohort 9 class, which is currently underway at the Food-X space in NYC.

There was an applicant pool of 500 companies this time around, and we asked Food-X Program Director, Peter Bodenheimer, how they waded through that list to select just eight. “We take a bit of a portfolio approach to how we do things,” Bodenheimer told me by phone earlier this week, “We try and balance it between the technology in the industry and the more consumer-product side.”

In keeping with that balance, the startups who will participate in Cohort 9 range from an AI-enabled voice assistant for restaurants to a company that makes functional foods for soon-to-be mothers. As Bodenheimer explained it, Food-X has a couple of main areas it focuses on when it comes to whittling down the application pool and choosing participants.

The first is what he calls “the application of advanced technology across the food system,” which can be anything from voice tech to AI to sentiment analysis. The other area Food-X looks to is ingredient tech — or finding new functions for ingredients, whether that’s pea protein for plant-based proteins or infusing coffee with wildcraft mushrooms as a natural energy boost.

Into this latter category also goes the concept of food as medicine, which was, according to Bodenheimer, the original inspiration behind that mushroom-infused coffee. “We believe the next generation of ideas will go beyond just “healthy” and deliver products and systems that become integral parts of how we avoid and treat disease,” Bodenheimer wrote in a recent blog post on Medium.

More generally, Food-X also carefully considers the actual people behind the products during the selection process. “You can have the best idea in the world, but if the team can’t execute, it won’t happen,” says Bodenheimer.

He also notes that part of the reason for this emphasis on people is the importance Food-X places on the community aspect of its program. Alumni from past cohorts are encouraged to work at the Food-X space alongside current members, and in doing so they create a lot of potential for collaboration between different companies: “Having that stability and having that sense of community between the different founders, it sounds a little bit hokey to say but that’s where the magic happens,” he says. “A connection gets made, an epiphany happens, a problem gets solved. That’s the stuff I love about having our current cohort companies and our alumni cross-pollinating.”

All participants to the current Food-X cohort get $120,000 (for which Food-X takes a small equity stake), mentorship opportunities, space in the NYC Food-X office, and, as mentioned, continued access to the latter once the cohort wraps.

Cohort 9 is happening as we speak. Here are the participating startups:
Kafina: an organic energy elixir
Mushroom Cups: maker of the aforementioned mushroom coffee
Paragon Flavors: a flavor encapsulation company
Mindwell: maker of plant-based “meaty” snacks
Simply Good Jars: sustainably packaged ready-made meals
Sweetie Pie Organics: food for expectant mothers
Vaartani: AI-powered insights for companies based on customer data
Voix: an AI-powered automated voice assistant

Previous participants to Food-X include Ingest.AI, an AI-powered management system for restaurants, RFID-enabled waste-reduction solution Wasteless, and Kindly, whose meal-delivery company services patience with chronic illness.

Cohort 9 is taking place right now in New York City. Stay tuned to learn more about these companies in the coming weeks.