Food business accelerator: applications now open
The ProVeg Incubator is open for applications! Pioneering plant-based, fermentation, and cultured-food startups can apply to join the next edition of our food business accelerator programme, starting in September. What do we look for in a startup? How does the application process look? What will you get out of our programme? Read on to find out…
The alt-protein sector has been growing steadily in recent years – a trend that is projected to continue. Across all regions, an increasing number of consumers opt to add plant-based food to their meals. At the same time, we also witness the spread of novel approaches, based on cellular agriculture and fermentation.
The demand for healthier and more sustainable sources of protein is one of the most visible trends in the food industry. Startup founders have a pivotal role to play in this picture. Creating something entirely new, by definition, requires innovation.
This is why we are calling on you to apply to the ProVeg Incubator programme today.
The application process
We welcome applications from all over the world. Ranging from Stockholm to Santiago de Chile, the location of our alumni startups reflects our international outlook. The global food system is ripe for disruption, and because of that, people of all backgrounds have much to contribute to our goals. Some critical areas that require change are broadly shared across sectors and geographical areas, but others will be specific to one. We welcome ideas on how to tackle each and all of them.
The application process for our food business accelerator is very streamlined by design. Fill in and submit the application form, where you will tell us about the product (or project) that you are developing.
Once all applications are reviewed, a subset of startups are invited to the second stage: an interview with the Incubator team. The third and final stage in the application process involves pitching your startup – be ready for questions about the product, the team and the company’s vision.
Having completed this phase, the final selection will be announced.
What we look for
We are on the lookout for startups with the ambition and ability to bring change to our food system.
The 20th century left us with an unsustainable approach to everyday nutrition. Because of that, we want to promote the development of new products that address this legacy.
If your plans are a good match for our goals, the ProVeg Incubator can be the right tool to scale up your fledgeling company.
The key points are:
- Removing animals from the food chain;
- Scalable innovation: the approach must eventually be capable to reach many, rather than a few;
- Impactful innovation: the idea must be able to make a dent in the problem;
- Defensible: you can protect what you are doing from competitors, big or small;
- Backed by a strong team: without one, the startup will struggle to hit its goals.
These are the basic points. To be a strong contender, your team should also meet the broader criteria of what we look for in a startup.
Who we have already worked with
The ProVeg Incubator has a track record in propelling early-stage startups to global relevance. Alumni from our previous cohorts include:
- Mushlabs – cohort of 2018. Raised $10 million in its series A investment round.
- Formo – cohort of 2019. Raised $4.7 million in seed funding.
- Remilk – cohort of 2020. Raised $11.3 million in December 2020.
- The nu company – cohort of 2018. Raised $4.4 million in October 2020.
What you get out of it
ProVeg’s commitment to food sustainability is well known, and the Incubator shares this same philosophy. Likewise, we will make sure that successful applicants receive some of the best training and mentorship available.
To that end, the startups that make it into the programme will enjoy access to meeting with investors, and networking events involving angels and VCs active in the food-tech space.
A tailormade, 12-week acceleration programme provides workshops on financial modelling, branding, go-to-market strategies and other specialised subjects. This will provide an accessible way to expand the knowledge set of your team.
Startups that make it into the programme can receive up to €200,000 in funding. Having some extra cash on your balance sheet will surely help you to recruit the best talent, and invest in R&D. Well-funded start-ups are able to develop and scale up rapidly, and in doing so, can leave competitors in the dust.
Startups will also have access to one-on-one mentorship from some of the leading voices in the food space. Our network of over 50 mentors have faced – and overcome – many of the same challenges your startup will meet. They can accordingly provide tailormade, individualised advice on matters ranging from branding and product development to team building.
What we ask of you
Your startup will be able to attend the food business accelerator remotely. However, a steady time commitment is necessary to attend the programme’s events. The founders must be willing to put in the work to guarantee they will make the most of the experience.
While there are no strict linguistic requirements, the team must be able to operate in an English-speaking environment. This is to ensure that everyone will be able to participate effectively.
Apply now to join the 2021 cohort! The deadline for submitting applications is 18 July 2021.