Dairy innovation incubator seeks start-ups developing cow-milk performance and recovery solutions
14 May 2021 --- The California Milk Advisory Board (CMAB) returns with its annual dairy innovation competition focused on advancing excellence in functional dairy product development.
The Real California Milk Excelerator, the third edition of the CMAB dairy product innovation competition with innovation consultancy VentureFuel, will award up to US$650,000 in prizes for new dairy products that support performance and recovery benefits.
The 2021 Real California Milk Excelerator taps into the thriving functional foods market, which has grown significantly over the past year and is projected to reach over US$275 billion globally by 2051.
Leveraging cow milk
With consumers prioritizing personal health and wellness in response to the COVID-19 pandemic, the competition will seek out early-stage start-ups that utilize California’s abundant supply of sustainably sourced California milk.
The competition seeks early-stage, the potential for high-growth applicants with a cow’s milk-based product or working prototype that plays a critical role in personal performance (focus, energy, exercise, strength) and/or recovery (rejuvenation, relaxation, gut health, sleep).
Up to twelve applicants will be selected to join the RCM Excelerator program, with each receiving a US$10,000 stipend and support to refine and scale their individual business as well as benefit from group resources, including the development of sales and marketing tools.
They will also be entered into the CMAB/VentureFuel Mentor Program, which includes elite counsel from successful founders, investors, leading corporate executives, and experts across design, marketing, sales, manufacturing, distribution, farming and processing industries.
Speed to market
The first place accelerator winner will receive up to US$150,000 worth of additional marketing support from CMAB to accelerate their product growth in the marketplace. Second place will receive US$100,000 of marketing support from CMAB.
“Consumers are redefining what health and wellness mean and looking for foods that provide not only flavor but functionality to help them achieve optimal health. Whether to maximize daily performance or replenishment after physical activity, dairy is the ultimate functional food supplying quality protein plus several vital nutrients that translate to the products consumers are looking for today,” says John Talbot, CEO of the CMAB.
“With the Excelerator and Incubator platforms, we will be able to support companies as they innovate with dairy to bring more of these products featuring milk from California dairy farmers to market.”
Edited by Gaynor Selby
