Global food giant Mars Inc. is embarking on a new open innovation initiative to accelerate innovation in several food categories of interest to the company. They include convenient meal solutions, flavors and plant-based products.
The Seeds of Change Accelerator program is looking to support the fast-track growth of early-stage food companies.
The accelerator will select six US and four Australian participants in the following areas: start-up food brands, innovative experiential offerings, emerging technology and new business models. Each will receive a grant of $50,000 and participation in a four-month program to scale their business.
“We’re committed to nurturing the next generation of food innovators who are dedicated to creating and delivering healthier and tastier food solutions for more people,” said Fiona Dawson, global president of Mars food, multi-sales and global customers and sponsor of the program.
Insatiable Consumer Demand
One of the key factors that is driving the need for the program is the incredible pace of the market with constantly changing consumer needs and wants. Mars is hoping it will glean valuable business insights by hosting the accelerator.
“At the same time, Mars also gains value in leveraging the accelerator as an external innovation tool and an opportunity to take a wider view across the food ecosystem to move the business toward the front line of rapidly evolving trends,” added Clarence Mak, chief marketing, sales and innovation officer for Global Mars Food.
For more information about the Seeds of Change Accelerator click here. The deadline for applications is May 31.