Mexican baking company Grupo Bimbo has launched a new incubator project in a bid to find and support high potential projects.
Called Eleva Food Technology Accelerator, the initiative aims give start-ups the necessary elements to develop their businesses.
Bimbo has invited companies to submit their applications, accepting projects in areas ranging from new materials and products, to retail and distribution.
Bimbo Ventures vice president José Manuel Ramírez said: “Through Bimbo Ventures and Eleva, we are offering start-ups with innovative and high potential initiatives the possibility to develop their projects hand in hand with Grupo Bimbo, through a comprehensive model that encompasses three fundamental aspects: mentoring, funding and trade alliances.”
The ten start-ups chosen to be part of the project will join an acceleration stage for 16 weeks.
Bimbo is the latest multinational to launch such an initiative as they aim to catch innovative companies and tap into emerging markets.
Last week Nestlé USA unveiled its Terra scheme which will support around 20 start-ups for the duration of two six-month programmes.
The company said it was responding to a ‘seismic shift’ in the food industry and that the programme would enable it to explore new business models.
The finalists of PepsiCo’s nutrition incubator were also announced earlier this month. The eight finalists will receive a grant of €25,000 and work with PepsiCo for six months to grow their brands.
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