Site icon Food Industry Executive

Twelve Innovative Dairy Brands Head Into Virtual Pitch Semi Finals in 3rd Real California Milk Excelerator Competition

Press
real california milk logo

TRACY, Calif. – October 21, 2021 – The California Milk Advisory Board (CMAB) announced today the schedule for the Real California Milk Excelerator virtual semi-finals, which will be held October 26th and 27th from 5-7 p.m. PST. The 3rd edition of the CMAB’s dairy product innovation competition partnership with innovation consultancy VentureFuel will bring 12 entrepreneurs together to pitch their functional dairy products for a chance at a slot in the final competition.

Semi-finalists will compete in four virtual events on October 26 and 27 leading to the November 18th virtual finals where the first place Excelerator winner will receive up to $150,000 worth of additional marketing support from CMAB to accelerate their product growth in the marketplace. Second place will receive $100,000 of marketing supports from CMAB. The total value of the competition prizing is $650,000.

The 2021 Real California Milk Excelerator taps into the thriving functional foods market – a market that has grown significantly over the past year and is projected to reach over $275 billion globally by 20251 and focused on early-stage, high-growth companies with a cow’s milk-based product that plays a critical role in personal performance and/or recovery.

“This is where it all comes together. Our finalists have honed their pitches and will be putting it all on the line to showcase how their products best integrate the natural ingredients, flavor and nutritional profile of milk and other dairy products to deliver a functional benefit to consumers,” said John Talbot, CEO of the CMAB. “We are excited to see any of these 12 innovative products make it to the final four.”

VentureFuel, Inc., the leading corporate innovation consultancy, has partnered with CMAB to run the program and identified and recruited applicants from their global network of investors, founders, and academics. Semi-finalists received a $10,000 stipend and support to refine and scale their individual business as well as benefit group resources including the development of sales and marketing tools and have participated in a virtual master’s class of mentor and support sessions to refine products, create marketing tools, and hone their presentations for the semi-finals.

The 2021 RCM Excelerator mentor team includes:

Judges for the October 26 and 27 RCM Excelerator semi-finals include:

The four finalists from those events will participate in a private pitch event with buyers and investors and a live, virtual final pitch on November 18th before a team of judges representing media, retailers, CPG food and beverage brands, investors, and eCommerce platforms. The finals event will be broadcast live for public viewing and a link will be made available on the RCM Excelerator site.

Finals judges include:

“How do you determine if a startup has breakthrough growth potential? You look to see if retailers will shelve it, if consumers will buy it, if reporters will write on it and investors will invest in it. Each of our judges have unique vantage points on what’s next, that when combined, gives us a holistic view on what will succeed tomorrow,” said Fred Schonenberg, Founder of VentureFuel.

The 12 semi-finalist applicants competing October 26th and 27th are:

In addition to the semi-finalists, two companies were selected to participate in a Real California Milk Incubator Boot Camp program, which was built to assist ideas and promising prototypes that are too early for the Excelerator. These companies received mentoring and support from VentureFuel, CMAB and the California Dairy Innovation Center (CDIC).

California, known for innovation, has a reputation for quality dairy products. As the number one producer of milk in the nation, California also leads the nation in sustainable dairy farming practices. More than 1,100 family dairy farms produce the California milk found in fluid milk, cheese, butter, yogurt, ice cream and other dairy products identified by the Real California Milk seal.

About Real California Milk/California Milk Advisory Board

The California Milk Advisory Board (CMAB), an instrumentality of the California Department of Food and Agriculture, is funded by the state’s dairy farm families who lead the nation in sustainable dairy farming practices. With a vision to nourish the world with the wholesome goodness of Real California Milk, the CMAB’s programs focus on increasing demand for California’s sustainable dairy products in the state, across the U.S. and around the world through advertising, public relations, research, and retail and foodservice promotional programs. For more information and to connect with the CMAB, visit RealCaliforniaMilk.com, Facebook, YouTube, Twitter, Instagram and Pinterest.

About VentureFuel, Inc.

Founded in 2014, VentureFuel is an independent innovation consultancy that builds innovation programs for industry leaders by unlocking the power of external innovation through startup collaboration. Its programs focus on changing behaviors and beliefs in order to unlock new sources of growth. We provide senior leaders with the tools to drive transformative change within their organizations by opening up their teams to new ways of working, products, services and routes to market. Learn more at: www.venturefuel.net, Linked-In, Twitter and Instagram. You can hear The VentureFuel Podcast on Apple, Spotify or Simplecast.

Exit mobile version