Food-X incubator program goes virtual to select start-ups disrupting industry
15 Apr 2020 --- Start-up accelerator Food-X is going digital, in line with social distancing mandates, amid the COVID-19 outbreak. Food-X has virtually revealed the eight start-ups chosen for Cohort 11 of its program. The “cutting edge” companies are active in the fields of ingredients, supply chain management, plant-based, restaurant technology and sustainability. The move comes as industry is increasingly opting for alternative ways to continue business as usual, with virtual trade shows and digital events proliferating.
Among the eight participants – which were chosen from 500 applicants across 56 countries to be empowered and ultimately brought to market at speed – are a disruptor modernizing the antiquated dairy supply chain; a plant-based pet nutrition company; and a first-of-its-kind marketplace for discovering ingredients and commodities.
“Since Food-X’s inception, we’ve endorsed the start-ups that are supporting our food systems. Our mission has never been more important amidst a pandemic that’s testing and straining the global food system,” says Peter Bodenheimer, Managing Director and Partner at Food-X.
Food-X invests in early-stage entrepreneurs that aim to solve the biggest global food challenges, namely the transformation of food commerce, the modernization of the supply chain, and the intersection of food and medicine.
“Traditional food commerce has been forced to embrace digital technologies for the sake of survival. While there may be a minimal supply shock in availability, there’s a growing need for transparency and traceability, as well as an increased impact on transportation and logistics. And the heightened interest to boost immune systems further underscores the importance of the burgeoning food as medicine movement,” adds Bodenheimer.
Cohort 11 is made up of eight ventures from Belgium, Canada, Denmark, India, Mexico, Costa Rica and the US, making it the accelerator’s most geographically diverse group in its history.
These include:
Milk Moovement: A start-up that is providing actionable intelligence across the dairy supply chain through its cloud-based software.
One start-up is tapping into rambutan, a fruit that is rich in antioxidants.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.
Ester: A start-up harnessing science and artificial intelligence (AI) to develop hyper-personalized customer flavor profiles for retailers of beer and wine.
Fieldcraft: The first business-to-business (B2B) marketplace for commodities and ingredients built to simplify sourcing from growers to manufacturers.
Nature Preserve: A sustainable food tech brand that is upcycling produce to minimize waste and maximize health via a proprietary food preservation process. Its first example is Lovi Smoothies, a natural plant-based mix packed with nutrients for use in smoothies, shakes, baking and beyond.
Living Food Company: A managed consumer marketplace offering access to fresh, clean and tasty food made by farmers, bakers, brewers and other food artisans.
remotekitchen: A unified platform to empower restaurants to run, manage and grow their business effectively.
Bramble: A fresh, 100 percent plant-based pet food company that aims to consciously boost pets’ diet.
Food-X provides an intensive 3.5-month program designed to empower the next generation of food innovators by helping nascent companies grow quickly and reach their full potential via financial and human capital investments that span start-up capital, expert mentorship, and access to a global network of thought leaders, as well as a growing Food-X Alumni community.
Fifty percent of Cohort 11 companies are led or co-led by a female, well above industry average. In fact, for all the ventures Food-X has invested in through Cohort 11, 57 percent of the companies have had a female founder or co-founder.
Food-X’s involvement with the cohort doesn’t end after the start-ups “graduate” from the program. The accelerator continues its long-term relationship with the ventures, providing follow-on investment and ongoing guidance. The accelerator has worked with 94 young companies over the last six years.
Edited by Missy Green
