Mondelēz’s SnackFutures to incubate ten well-being snack start-ups with CoLab
10 Feb 2021 --- Mondelēz International’s innovation and venture hub, SnackFutures, has launched CoLab, a start-up engagement program for early-stage, snack brands with a well-being positioning.
The program has been designed to drive mutual growth between entrepreneurs and the Mondelēz International ecosystem.
CoLab is a 12-week program customized based on each participant’s business challenges and growth priorities. Up to ten start-ups will be chosen to participate in the program and receive a US$20,000 grant.
“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,” says 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.”
The CoLab launch closely follows the European Commission launching an antitrust investigation to assess whether Mondelēz International has restricted competition in a range of national markets for chocolate, biscuits and coffee.
The probe will examine if the snacks giant has hindered the cross-border trade of these products between member states, breaching EU antitrust rules.
CoLab will support ten start-ups well-being snack brands that align with Mondelēz International’s priorities.Bringing “big and small” together
To apply, start-ups must be based in the US, generating at least US$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.
SnackFutures will provide participating start-ups with tools and technologies, emphasizing dedicated attention, 1:1 mentorship, workshops and access to Mondelēz International’s leadership, expertise, resources and networks.
The curriculum will be a combination of virtual sessions and three in-person activities – where and when travel is permitted.
Toward a healthier snacking future
The launch of CoLab aligns with SnackFutures’ goal to create a snacking world that is good for people, kind to the planet and 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 US and Europe, including CaPao, Dirt Kitchen Snacks, Millie Gram, NoCoé and Ruckus and Co.
Mondelēz International has also made minority investments in Uplift Food, Torr and HU – which the company recently acquired.
COVID-19 drives better-for-you snacks
Last April, Mondelēz highlighted a surge in snacking as consumers were forced to stay indoors.
Jessica Vogl, global media relations manager at Mondelēz told FoodIngredientsFirst at the time that COVID-19 had a significant impact on how healthy snacks were perceived.
Prior to the coronavirus, less-sugar and less-salt snacks were considered as healthier by consumers, she observed.
However, consumer behaviors began to change with attributes such as “immunity building” or “improving overall well-being” coming more strongly to the fore.
Mondelēz’s moves in snacking
In addition to its advancements in healthy snacking, Mondelēz International is continuing to invest in chocolate.
This month it announced plans to invest £15 million (US$20.5 million) in a new production line of Cadbury Dairy Milk tablets as the company consolidates the majority of its tablet production at its Bournville site in the UK.
Last February, Mondelēz acquired in-store bakery company Give & Go, a North American company in fully-finished sweet baked goods.
Edited by Missy Green
