Mondelēz launches second round of SnackFutures ‘CoLab’ innovation and venture hub
Global confectionery and snacks group Mondelēz International has unveiled plans for its latest SnackFutures innovation and venture hub, opening applications for its CoLab 2022 classes, reports Neill Barston.
As the business noted, the second year of the start-up engagement programme will focus on mission-driven brands that can demonstrate their commitment to having a positive impact on social, environmental and human well-being.
The company, which is behind major brands including Cadbury, Oreo and Milka, has also sought to diversify its portfolio in supporting new and emerging ventures with the snacks, confectionery and wider food space, including fledgeling companies offering a response to the drive for a greater array of healthier options.
“We are thrilled to launch CoLab 2022, and particularly excited about bringing in mission-driven brands because we know companies grounded in purpose are in consumer demand and have high growth potential,” said Brigette Wolf, Global Head of SnackFutures. “We can’t wait to see their vision for creating a snacking world that is good for people, kind to the planet and deliciously fun.”
CoLab, which launched in 2021, is deliberately designed to be a collaborative effort between ‘big and small.’ Entrepreneurs get access to Mondelēz International’s experts, ecosystem, tools and resources, while the global snacking leader gains insights, capabilities and prospective investment opportunities.
The 12-week program is customised based on the cohort’s business challenges and priorities with an emphasis on hands-on interaction, individual attention, mentorship and workshops. The curriculum will be a combination of virtual sessions and in-person activities. In addition to the in-depth experience, participants will also receive a $20,000 grant.
Applications for the CoLab 2022 program are open now through December. The program begins in April of 2022. To apply, start-ups must be based in the U.S., generating at least $500,000 in revenue, have high growth potential, align with the Mondelēz International innovation priorities and can benefit from working with the company. For more information and to apply to the CoLab programme, visit www.snackfutures.com.