Land O Lakes Launches Dairy Startup Accelerator
More and more corporations in more and more industries are turning to startups and accelerator to spur innovation. Companies are turning to cohort based accelerators to help create more internal and external innovation as it related to their own business.
We’ve seen several banks including Wells Fargo, Barclays and Capital One turn to startups and acceleration. We’ve seen huge software companies like Oracle open up cloud accelerators across the globe. Even telecom giants like Sprint, are finding technology partners through these programs.
Land O’ Lakes, the dairy company known for it’s butter and other products is launching the 3 month Dairy Accelerator, in the Twin Cities. Startups selected to participate will come to the company’s headquarters and focus on brand building, financing, product development, market analysis, manufacturing, sales, distribution and leadership development. The teams selected will receive a $25,000 stipend and the opportunity to pitch to Land O’ Lakes executives and their partners.
“The primary driver within the dairy industry has been consumers looking for healthy, wholesome, clean label products. We are a perimeter category that is perceived as less processed and fresher than some other categories,” Patrick Aaberg, Marketing Director, Innovation and Business Development at Land O’ Lakes said in a statement.
Land O’ Lakes is looking for a broad base of companies looking to innovate in the dairy space. They haven’t put many stipulations on that aside from saying, “The entity must utilize dairy as a primary ingredient in its product idea. Any aspect of dairy including but not limited to: yogurt, cheese, whey or other milk-based proteins or ingredients can be used. However, the applicant’s idea cannot be focused on butter or butter-based spreads. Applicants should have company revenues of approximately $200,000 or more in the last 12 months. Applicants and the product ideas must be based in the United States.”
It’s important to note that the $25,000 is a non-equity based stipend. Land O’ Lakes will not be taking equity from the startups as a requirement for participation.
You can find out more here at Land O’ Lakes Dairy Accelerator page.