With our first Good Food Business Accelerator class in the book, we couldn’t be prouder of our inaugural cohort and the success they’ve had. We can’t believe 2017 is already over, but we’re very excited for what 2018 has in store.
Because now more than ever, consumers want to know the story behind the food they eat: how it was grown or raised and what impact its production and distribution had on the environment. Since 2014, FoodLab Detroit has been supporting a community of socially and environmentally responsible food companies out there creating delicious, nutritious, natural, accessible food, and now we’re in a position to provide these companies with the ability to scale!
One of the things we learned from the first class of the Accelerator is the top three challenges most food businesses face when scaling up are:
1. high overhead for equipment, inventory and staff means there's never enough working capital
2. finding and managing a good co-packer, brokers and distributor
3. accessing affordable qualitative and quantitative insights and using them to make decisions that drive sales and velocity
At FoodLab, we’re all about helping good food businesses address those challenges and we’re ready to provide them the resources necessary to access up to $45,000 in capital and an entire ecosystem of support.
Our 2018 Accelerator is tailored to the needs of good food businesses and is based on our newly designed hands-on advising model. Each entrepreneur will be assigned a lead advisor who will guide them through tailored work plans and track progress toward their sustainability goals. Accelerator companies will receive advice on business strategy, finance, organizational development, supply chain transparency, human resources, marketing and branding.
We're excited to announce applications will open for FoodLab's next Good Food Business Accelerator class on January 18th!
Applications will be open for seven weeks - the deadline for submitting the application is Friday, March 9th at 11:59 PM EST.
Also, we will be hosting an info session on January 17th at 6:00pm EST, which will include the Accelerator team and members of the inaugural class.
Hope to see you there!