CHICAGO, U.S. – SnackFutures, the Mondelēz International, Inc. (Nasdaq:MDLZ) innovation and venture hub, today announced the launch of CoLab, a new start-up engagement program for early-stage well-being snack brands. CoLab is deliberately designed to be a collaborative effort between entrepreneurs and the Mondelēz International ecosystem to drive mutual growth. 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’s also yet another demonstration of SnackFutures’ mission to create a snacking world that is good for people, kind to the planet and deliciously fun by bringing “big and small” together to push the boundaries of what’s possible in well-being snacking.
Since SnackFutures launched in 2018, the team has been immersed in the start-up community, traveling around the globe to uncover trends, gain insights, understand entrepreneurs’ business challenges, and fuel the SnackFutures innovation pipeline. The team has also created and launched five well-being brands in the U.S. and Europe including CaPao, Dirt Kitchen Snacks, Millie Gram, NoCoé, and Ruckus and Co, and made minority investments in Uplift Food, Torr and HU – which was recently acquired by Mondelēz International.
“SnackFutures is in a unique position of both creating our own brands and investing in start-ups, so we can offer participants empathy and understanding from our own experiences along with the rigor, discipline and insights of global snacking leader,” said Brigette Wolf, Global Head of SnackFutures, Mondelēz International. “It’s even more important for programs like CoLab now as these small brands try to recover and grow out of the challenges presented by the COVID-19 pandemic.”
CoLab is a 12-week program customized based on each participant’s business challenges and growth priorities with a key emphasis on providing dedicated attention, 1:1 mentorship, workshops and access to Mondelēz International’s leadership, best-in-class expertise, resources and networks. 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.
The call for submissions is now open with the program set to begin in June 2021. To apply, start-ups must be based in the U.S., generating at least $500,000 in revenue, have high growth potential, align with the Mondelēz International innovation priorities, and can benefit from working with Mondelēz International and the company’s partners.
