The first Incubation Program for Innovation in HORECA Projects developed by the Madrid City Council and managed by Eatable Adventures just launched. Madrid Food Innovation Hub is a business incubator aimed at promoting entrepreneurship, innovation and technology in the agri-food value chain. This is a pioneering experience in the world that will revolutionize the global industry from the city of Madrid.
Madrid Food Innovation Hub will develop during the year several incubation and acceleration programs, with different approaches; and a deep training program for entrepreneurs in any area of the agri-food chain. The center will work to promote entrepreneurship in Foodtech, supporting the Madrid startup ecosystem, in coordination with the strategy developed from Madrid Emprende, which has led the capital to lead the ranking as the best Spanish city for entrepreneurship and the sixth at European level, according to the Financial Times.
All these efforts will be developed from the facilities in the Villaverde district of Madrid Food Innovation Hub, a center that has a coworking space for entrepreneurs and a kitchen-laboratory of more than 300 m2, equipped with everything necessary for them to make concept tests, evaluation of prototypes and everything needed to develop their projects. This business incubator will be managed by the company Eatable Adventures with José de Isasa in charge of the project.
Incubation Program for Innovation in HORECA Projects
Madrid Food Innovation Hub starts its activities with its first Incubation program, focused on innovation for HORECA projects, aimed at finding new gastronomic concepts, new business models or tools/projects that add to the current Horeca sector. The selected projects will have the ambition to revolutionize the sector, with a clear focus on the commercial viability of the projects and their contribution to the industry.
The program, which is completely free of charge for participants, will last 12 weeks, during which those selected will receive theoretical and practical sessions, tutorials with experts, will be able to make use of the center’s facilities (both the coworking space and the kitchen laboratory), and will end the program with presentations of their projects to potential consumers and investors.
Among the possible areas in which the projects could be framed, tools for the digitalization of restaurant management will be assessed, from purchasing, management, operation, scandals, marketing, to payments; new distribution channels, such as Delivery, Grab & go, dark kitchens, automated services, corners in establishments…; new gastronomic models and restaurant concepts, both in the dining room and in the kitchen or innovative technological tools applied to the channel such as business intelligence, machine learning, application of artificial intelligence, automation, robotics…
It is aimed at projects with less than 12 months of life, that have not received previous investment, that address the HORECA sector with an innovative perspective, that have an ambitious team and are based in the Community of Madrid. Special value will be given to projects promoted by unemployed or economically vulnerable people.
“The Madrid Hospitality Industry has suffered significant damage in the last 18 months due to the impact of COVID-19 and the Madrid City Council has developed a multitude of policies aimed at supporting it and mitigating its effects. With Madrid Food Innovation Hub we are going even further, looking for the future solutions that will help the HORECA sector to evolve and continue to be the global reference it is today” comments Ángel Niño, Delegate Councilor for Innovation and Entrepreneurship of the Madrid City Council.
“Madrid is today a global reference in entrepreneurship, with one of the most solid ecosystems of startups and with Madrid Food Innovation Hub we will deepen in one of the sectors with more potential, foodtech. The capital has the potential to lead the search for solutions to changes in consumer habits and the development of new technologies, driving business development in this area,” said José de Isasa, Director of Madrid Food Innovation Hub and founding partner of Eatable Adventures.
The deadline for applications is Sunday, September 19. The complete rules are available at www.madridfoodinnovationhub.com