Innovation is the name of the game in the food industry right now, and Kraft Heinz and Nestlé USA are the latest giants to join the ranks. With major investments in small businesses, the two companies are positioning themselves — along with innovative industry newcomers — for long-term success.
Kraft Heinz recently announced the launch of Evolv Ventures, a venture fund led by veteran investor Bill Pescatello. The company committed up to $100 million to the fund, which will be used to support young tech businesses dedicated to improving the food industry.
Business leaders are hopeful that by helping young businesses succeed, Kraft Heinz will grow alongside new innovators as thought leaders in the industry. “With the insights, data and access available at Kraft Heinz, we look to take full advantage of our unique position and be the foremost value-added investor in the space,” said Pescatello.
TERRA Food & Agriculture Accelerator
Earlier this month, business leaders at Nestlé USA announced partnerships with Jackson’s Honest, Miyoko’s and Here through the TERRA Food & Agriculture Accelerator. The three brands aren’t yet household names, but they are dedicated to creating healthy snacks that today’s consumers crave — with simple labels and fresh ingredients to boot.
Heavy investment in startups like those involved in the accelerator is just one facet of Nestlé’s long-term innovation strategy, but its a critical one. Ashlee Adams, Head of Open Innovation at Nestlé says, “These companies represent the future of food.”
Read about more startup investments and small business incubators in these articles:
- PepsiCo Aims to Diversify Product Portfolio with Startup Incubator “The Hive”
- Big Food Investing in Food Startup Incubators
- PepsiCo Offers Springboard for Innovative Startups Through Nutrition Greenhouse Accelerator Program
- AB InBev Pilots 100+ Accelerator to Propel Towards Sustainable Future
- Techstars Farm to Fork Accelerator, Funded by Cargill and Ecolab, Welcomes 9 Food Industry Startups to the 2018 Class