Mondelēz Launches Collaborative Program for Early-Stage Wellbeing Snack Brands
CHICAGO — Mondelēz International Inc.'s innovation and venture hub SnackFutures is launching CoLab, an engagement program for early-stage wellbeing snack brands.
CoLab is deliberately designed to be a collaborative effort between entrepreneurs and the Mondelēz ecosystem to drive mutual growth, the company stated. The 12-week program is customized based on each participant's business challenges and growth priorities with a key emphasis on providing dedicated attention, one-on-one mentorship, workshops and access to Mondelēz'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.
"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."
The call for submissions is now open with the program set to begin in June. To apply, start-ups must be based in the United States, generate at least $500,000 in revenue, have high growth potential, align with the Mondelēz innovation priorities, and whereby all parties can benefit mutually.
More information or to apply to CoLab is available here.
Founded in 2018, SnackFutures has created and launched five wellbeing brands in the United States 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 Mondelēz recently acquired.
Based in Chicago, Mondelēz International empowers people to snack right in more than 150 countries around the world. With 2020 net revenues of approximately $27 billion, its iconic global and local brands include OREO, belVita and LU biscuits; Cadbury Dairy Milk, Milka and Toblerone chocolate; Sour Patch Kids candy; and Trident gum.