Accelerators targeting foodtech companies

They include Good Food Business Accelerator, Land O’Lakes’ Dairy Accelerator and H-Farm

For startups, there are numerous paths for getting their name out there. One way, which Vator has been covering recently, are startup competitions, but another popular method to get a foot in the door, as well as some funding and traction, are accelerators. These are programs that provide companies advice, guidance and various forms of support for startups in their early stages. They also often invest in the companies, for a certain equity stake.

Need a list of startup competitions, challenges, accelerators, etc. from around the world? Check out VatorX. You can find them, or list yours!

There are some very well-known accelerators out there, including Y Combinator and 500 Startups, which have made their names through various successful alumni. Those programs fairly general, accepting companies from a variety of different spaces. 

For some companies, it may help to join an accelerator that only focuses on their specific area. That's especially true for those in more specialized spaces, which will have their own unique challenges and regulations.

Here are some of the accelerators that are focused specifically on mentoring companies in the Foodtech space:

• H-Farm

Investment amount: Every team receives €20.000 in cash with a possibility for further investment from the H-FARM Investment fund at the end of the program. H-Farm takes 5-10 percent equity. 

Program benefits: 

• Industry Partners & Business Development
  The program connects startups with leading industry partners willing to partner with innovative ventures. Selected partners organize dedicated advisory sessions and specific activities with each startup, while considering possible pilots, business development agreements, investments.
• Mentorship & Workshops
  You can attend workshops held by our experts covering key themes such as Business Strategy & Development, Communication & Marketing, Coding & Dev, UX & Design, Legal & Fundraising. You also meet with entrepreneurs, investors, managers and business leaders from our international network.
• Accelerator Team
  During the program you never walk alone, we provide a full-time dedicated team that work closely with you. The team is made of: Accelerator Director, Program Manager, Program Assistants & Operations Manager. These people take care of your stay and organize weekly meetings to monitor your progress.
• Working Spaces, Room & Board
  While staying here you only have to focus on your business. You have space for the whole team with access to all the necessary infrastructure (WiFi network, meeting rooms,…). We also offer amazing food all day long in our restaurant and accommodation on our Campus to each team member. 
• Tech Partners
  We make your startup’s life easier by giving you access to hundreds of great perks, free or discounted services. The value of these offers is more than €450.000.
• International Opportunity
  We are one of the key members of the GAN (Global Accelerator Network). Once a startup takes part into our acceleration programs, it gains access to GAN Services: remote mentorships sessions, tech partners, temporary desk space in other Accelerators. You also have visibility to international investors.

Portfolio companies: Not specified

• BSH Future Home Accelerator

"BSH Hausgeräte GmbH is one of the world's leading home appliance manufacturers. With the home appliances of our global brands Bosch, Siemens, Gaggenau and Neff we want to improve the quality of people's lives. Furthermore, our digital ecosystem Home Connect offers our consumers new experiences within an increasingly connected kitchen world."

Investment amount: Not specified

Program benefits:

• Access to Europe’s No.1 Home Appliance Manufacturer
• Two Strong Global Networks
• Great Mentors & Inspiring Working Atmosphere
• BSH’s Home Connect Ecosystem installed in 1 Mio. Home Appliances

Portfolio companies: None yet

• Land O’Lakes’ Dairy Accelerator

"The Land O’ Lakes Dairy Accelerator Program provides support and mentorship to product pioneers that want to drive innovation in the dairy products space. Participants will get hands on experience in finance, brand building, manufacturing, sales, distribution, and leadership development. Really, anything needed to move your business to the next level. In addition, our accelerator includes access to Land O’ Lakes’ internal experts as well as broader industry leaders. At the conclusion of the program, you’ll have the opportunity to present your proposals, new business ideas and learnings to Land O’Lakes leadership."

Investment amount: No equity stake is required to participate in the accelerator. Instead, our participants receive a $25,000 stipend to offset the cost of travel. Our program’s focus is simply on growing the dairy industry as a whole.

Program benefits: The Dairy Accelerator program provides an intensive training program in the fall of 2018 that addresses the key challenges participant companies face in taking their companies to the next level. Participants will also be matched with mentors who have industry experience in finance, brand building, manufacturing, sales, distribution and leadership development.

Portfolio companies: None yet

• FoodForward

"FoodForward is a global Foodtech accelerator that brings top Made in Italy corporates and best international innovators together to disrupt agrifood and retail sectors."

Investment amount: Access to €20k in cash contribution and €50k in services, directly invested by our Partners, in exchange for 6% of your equity

Program benefits:  

Mentor makeup: Richard Belluzzo, Giacomo Fanin, Gian Maria Gentile

Portfolio companies: None yet

• Food-X

Investment amount: We provide the following funding in exchange for 7-10% equity:

• $50,000 on commencement of the program in NYC
• We cover the $45,000 cost of the program.

Program benefits:

• Office co-working space for 2-3 people per company, including high speed internet, meeting rooms, and standard office facilities.
• $50,000 investment as described above.
• A reputable and accomplished advisor assigned to help grow your company.
• Media exposure, where possible.
• Demo Day: The opportunity to present your company to our network of angel investors, venture capital funds, institutional investors, media, and a global audience via a live video stream.
• One or two day trips to visit companies or institutions at the forefront of food disruption.

Mentor makeup: Adam Eskin, Dan Barber, Danielle Gould, Gabi Lewis, Michael Moss

Portfolio companies: Abby’s Better, FoodCloud, Greenease, Pow-Cow, Re-Nuble

• Accel-VT Ag & Food-Tech
  

"Rural economies nationwide and around the globe are struggling to maintain their local food systems and reduce their dependence on fossil fuels, especially as extreme weather events become more prevalent. Vermont is a leader in the incubation and development of forward thinking food and energy businesses and is making a concerted effort to attract the next generation of climate friendly businesses to the state."

Investment amount: Not specified

Program benefits: The accelerator consists of three separate, four-day, on-site “sprints”, in the Burlington area, with homework and webinars in between. As a result of our generous sponsors and partners, accommodations and meals will be provided at no cost. Cohort members provide their own transportation to and from Vermont for the three on-site sprints.

Portfolio companies: Not specified

•  Food Future Co

"We are now seeking the next generation of founders, who are determined to scale up their impactful solutions to promote personal and communal responsibility, affordability, accessibility, sustainability, health and taste."

Investment amount: In exchange for our services we will ask for between 4-8% equity.

Program benefits: While we are based in New York, we work with companies worldwide, and are able to provide support wherever you are located. Face to face meetings, and participation in our event series and networking opportunities are highly concentrated in NYC, we encourage your presence from time to time.

Mentor makeup: John Ason, Aaron Greenwald, James Manfredonia, Kara Rubin

Portfolio companies: 4P Foods, eFowl, Generation Fresh, Ozuké, Traverse

• Food System 6

Investment amount: Not specified

Program benefits: FS6 offers a comprehensive 4 month program that combines business and organizational development skills with a broad education of the food system to provide a holistic perspective for emerging innovators.  Sessions combine presentations, workshops and individual work sessions with customized / tailored support.

Mentor makeup: Lauren Abda, Jessica Hellmann, Jonathan Mi, Eric O'Brien, Robert Tse

Portfolio companies: AgriDigital, FluroSat, Kunoa, Valley Verde

• Accelerating Appalachia

 "Accelerating Appalachia is the first-of-its-kind program accelerating the regenerative economy by connecting “basic needs businesses” in food, clothing, shelter and wellness to regenerative business development training, peer businesses, mentors, aligned value supply chains, and investors committed to people, place and prosperity. We attract and scale high-impact, seed-stage businesses with special consideration for entrepreneurs who are women, LGBTQ, and people of color."

Investment amount: Not specified

Program benefits:

• We’re partnering with organizations from around the world to identify and attract incredible entrepreneurs from Appalachia and elsewhere who are solving big problems with their business models, profiting through improving the health of people and planet. Through an extensive review and vetting process, these early-stage entrepreneurs are chosen to join our accelerator.
• Bringing the best entrepreneurs together for the core program and taking our entrepreneurs on the road throughout Appalachia, with opportunities to present their business to a variety of markets and investors/mentors.
• To guide the entrepreneurs, we bring in seasoned entrepreneurs and proven practitioners as mentors, who advise and consult with entrepreneurs to build companies that effectively address social and/or environmental needs, while being profitable, scalable, and considerate of the triple bottom line of people, planet and profit.
• We help entrepreneurs connect with a robust network of top investment funds as well as a growing group of individuals interested in investing through a nature-based lending group. We help our participants prepare for investment, if that is what they seek. For 2016 we have a special partnership with Kiva Zip for farmers

Mentor makeup: Wendell Berry, Bell Hooks, Michelle Long, Joe Schmidt

Portfolio companies: Baqua Brands, Cache Foods, Heartland Chia

• Good Food Business Accelerator

"The GFA helps emerging food and farm entrepreneurs expand the production, marketing and distribution of locally and responsibly produced food, in order to enhance the social, economic and environmental health of our communities. We provide competitively selected fellows with mentoring, strategic support, and access to capital so they can thrive commercially and have a power ripple effect on the local economy, and beyond."

Investment amount:  Fellows do not receive an investment from the Accelerator itself, nor do they give the Accelerator equity. Instead, Fellows will be required to pay an annual fee to FamilyFarmed based on the increase in revenue of their businesses. Without sales growth, Fellows will not pay any fee.

Program benefits:

• Intensive curriculum focuses on the key components of a well structured business: Entrepreneurial Financing, Leadership, Operations, Go-to-Market Strategy, Fundraising
• Emphasis on optimizing CPG (consumer packaged goods) and food service business aspects
• Free work space and resources at 1871, Chicago’s innovation hub
• Opportunity to be showcased at the Good Food Financing & Innovation Conference, with introductions to large scale customers
• Introductions to public and private sources of capital: angel investors, the SBA, banks, and many more!

Mentor makeup: Hank Adams, Michael Bashaw, Atina Diffley, Steve Hall

Portfolio companies: Not specified

• Bits x Bites

"We accelerate food technology startups that share our mission to shape the future of good food"

Investment amount: Not specified

Program benefits:

• Free co-working space up to 6 months
• Global domain expert and entrepreneur networks
• Top design and talent pool to fill skills and capability gaps
• Free use of kitchen lab and maker shop facilities
• Access to farms, logistics, wholesale and retail partners
• Possible follow-on pre-A and series-A financing

Portfolio companies: 321 Cooking, Inspecto, OriginTrail, Papp's Tea, Souprise

• The Good Kitchen

"The Good Kitchen provides funding, business training and mentorship for organisations working to solve food poverty, wherever it’s found."

Investment amount: The Good Kitchen is looking to offer 'catalytic' investment to organisations tackling food poverty. Depending on the stage/size/type of your organisation, catalytic might mean 5,000 Euros or 50,000 Euros. Accordingly, we ask that you outline your required investment needs clearly in your application and provide context for what you will spend the money on. That said, if you are looking for more than 75,000 Euros, this probably is not the right programme for you.

Program benefits: You know what support you need best. If you are accepted onto our programme, we won’t be prescribing training sessions that you do not need (or want). Instead, we'll build a personalised programme of support in partnership with you, making your journey with The Good Kitchen as relevant and useful to you as possible.

Portfolio companies: Mimica Touch, Cultivando Futuro, Entocycle, Make Kit

• Just Eat

 "We help bold, ambitious FoodTech entrepreneurs build great businesses"

Investment amount: We invest £20k in the form of a SAFE (Simple Agreement for Future Equity)

Program benefits:  For the 12 weeks we will provide office space for you. Being co-located with mentors and fellow entrepreneurs provides great support whilst on the programme.

Portfolio companies: CityMunch, Buzzer, ShareDining, Sure

• REVTECH Accelerator

"REVTECH, Retail Technology Ventures, is a leading venture accelerator seed fund dedicated to identifying and developing the best early-stage, high-growth ventures focused on tech and product innovation for restaurant, retail, and hospitality.  The program aims to facilitate the technological evolution of the restaurant and retail industry by attracting, mentoring, and connecting experienced entrepreneurs with viable products to talent, customers, and investors."

Investment amount: Not specified

Program benefits: Each week of the program, time is carved out to meet with our Managing Director to discuss progress and goals.  We also set up meetings with our mentors to help you troubleshoot issues, recommend solutions, and help grow your business and gain customers.  We regularly schedule Pitch Practice times to help you perfect your message, and host community events to facilitate learning opportunities and new connections. Companies will then conclude our program with the chance to pitch at our Fall Tech Trends event.

After the program, we  provide you with continued support with monthly check-ins, and help with any issues you have, or meetings you’d like to book.  Our goal is to see your company succeed!

Mentor makeup: Mateen Aini, Rachel Bentley, Jon Bolen, Hemant Elhence

Portfolio companies: Pensa Systems, Neighborhood Goods, Roopa, CherryPick.ai, Bottlefly

• ShakeUpFactory

Investment amount: Not specified.

Program benefits:

Portfolio companies: Cashpad, Wynd, FoodPairing, Yooji

(Image source: civileats.com)