Why Mondelez's CoLab is betting on tiny snack brands - Business Insider

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Why Mondelez is going after early-stage startups with a new financing and mentorship program

CoLab, the latest addition to the snack maker's SnackFutures venture arm, will pick up to 10 startups for its initial run of the program, slated to begin in June and run for 12 weeks. In addition to a $20,000 grant, founders will get mentorship and networking opportunities within Mondelez., as well as grown its own, such as Ruckus & Co. smoothies for children.

While startups will enter the program with no commitments beyond 12 weeks, Wolf said Mondelez will consider doing more down the road, including investments. While the CoLab program was in the works before COVID-19 started shutting down public life, Wolf said Mondelez made adjustments as a result of the pandemic. Most of the program will take place virtually, for instance, but SnackFutures is tentatively planning on three in-person events for the founders it works with, depending on how the pandemic develops.

 

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