Nestle to nurture food startups via Terra Food + Ag Tech Accelerator platform | Momofuko founder emphasizes food quality at delivery startup Ando | Study: Millennials name San Pellegrino their favorite brand
June 22, 2017
News at the intersection of food, entrepreneurship and investment
Nestle has joined forces with RocketSpace and Rabobank to nurture food startups via the Terra Food + Ag Tech Accelerator program. The platform aims to discover and support next-generation food companies, and Nestle is planning to help 20 startups during its two upcoming six-month programs.
Ando, a delivery-only food startup, is continuing to expand, even as other startups close. The concept, developed by Momofuko founder David Chang, aims to succeed by emphasizing its premium food quality rather than putting all of its attention on technology.
Conde Nast and Goldman Sachs have expanded their generational study, "The Love List," to include foods, beverages and retailers this year, and the data indicates that San Pellegrino, Angie's, Haribo, Duncan Hines and Bertolli are millennials' five favorite food brands. Cross-generational consumers listed Nespresso, San Pellegrino, Starbucks, Ben & Jerry's and Coca-Cola as their five top food lines.
Hint water, a beverage line that uses infuses natural fruit oils into water, raised $35 million in funding and is expanding its footprint both in stores and online, with e-commerce now comprising some 40% of the company's bottom line. Hint is also expanding into new products, with a sunscreen line recently hitting shelves.
Punch Bowl Social has won a new investment from private-equity firm L Catterton, which it will use to speed expansion. Partners Robert Thompson and Hugh Acheson created Punch Bowl Social, which combines fine food and cocktails with bowling, ping pong and other games, in 2012 in Denver and have since expanded it to four other major cities.
UK supermarket chain Marks & Spencer is doing away with label stickers in favor of laser engraving on avocados, a practice it may extend to other produce in the future. The change is expected to cut paper and glue use by 11 tons and 5.5 tons, respectively, each year, the retailer said.
PepsiCo has donated up to $10,000 each to eight colleges and universities so far as part of its Zero Impact Fund. The initiative rewards schools striving to achieve environmental, economic or social goals through energy, waste and water efforts.
Sustainable Supply Chains is aimed at helping food-business leaders in today's marketplace think critically in the face of business and food-production challenges. Led by Helene York, who oversees a procurement team for Compass Group at Google and is one of the most accomplished experts in supply-chain design in the world, this course will guide you in building a future-ready procurement policy that will give your food business the competitive edge. This in-person, three-day intensive workshop will be offered Sept. 25-27 at the Culinary Institute of America at Copia in Napa, Calif. Check the FBS website in late June for more course and application information!
For the fourth year, FOOD IT: Fork to Farm will explore food and ag-tech challenges and solutions. Join industry leaders in food and agriculture innovation for a day of interactive and moderated discussions, a pitch competition and hands-on demonstrations. Come explore the latest in the application of information technology in food and agriculture and how it's impacting our food system on June 27 in Mountain View, Calif. Use FBS code "17MMB" and receive a 20% discount on tickets here!
Register today to reserve your place at reThink Food Nov. 1-3 at the Culinary Institute of America at Copia in Napa Valley, Calif. Renowned speakers will explore innovation at the intersection of technology, behavior and design across five key programming tracks: strategies for market landscapes; food- and hospitality-experience design; health, sustainability and lifestyle; the retail/foodservice convergence; and business trends and big data. Visit re-ThinkFood.org regularly for information and updates.
Education ... is a process of living and not a preparation for future living.
The Food Business School (FBS) is the executive and graduate education center of The Culinary Institute of America—and the world’s first business school dedicated to food entrepreneurship and innovation. Established to meet the growing interest and need for broad food-system transformation, FBS is built for future leaders ready to tackle the planet’s most pressing food challenges—and its greatest business opportunities.