Mondelez International Launches CoLab Accelerator Program For Indian Snacking Startups
Global confectionery giant Mondelēz International has launched CoLab, its startup accelerator program in India. The accelerator program aims to nurture the country’s growing entrepreneurial pool, drive growth and innovation, and lead the snacking industry.
As per the firm, India is the first market outside of the US to pilot the CoLab Accelerator program. As part of the program, the firm will collaborate with early-stage startups in the snacking segment.
CoLab Accelerator Program
Mondelēz International hopes it will help these companies explore, identify, and participate in high-growth snacking trends. And through the initiative, the firm will be able to develop a strong partnership with these startups and help them grow in the snacking space, thereby benefiting the overall snacking market in India.
For the program, up to seven startups will be shortlisted, who will be chosen by a team of internal and external experts and will receive a $20,000 grant*.
The startups will participate in a 12-week program across virtual sessions and in-person interactions, providing startups expert mentoring, workshops, access to Mondelez India’s leadership and their networks, as well as connections with Industry experts. With the conclusion of the program, at the final showcase event, selected Startups will get a chance to pitch and raise capital from Huddle and other potential funds.
Speaking about the development, Deepak Iyer, President-India at Mondelez International, said,
“As the company marks 75 years in India, the launch of CoLab reinforces our commitment to being a consumer-centric brand in India. This gives us the perfect opportunity to nurture the growing entrepreneurial talent in the country, while unlocking new ideas that drive innovation and scalability in the Snacking space. We are in a position to provide our expertise and experience for startups, help capitalize on new trends, mobilize talent and technologies to build emerging and resurgent snacks, to positively grow the snacking industry in the country.”
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