The first incubation program for consumer packaged foods and beverages in the city of Madrid has launched, promoting entrepreneurship, innovation and technology in the food sector. It is a pioneering experience in the world that will revolutionize the industry from our city, by Madrid Food Innovation Hub.
This incubation program is dedicated to projects developing packaged food products and packaged beverages by applying new technologies during formulation and/or production. They also may be accompanied by the development of new business models in the digital environment that allows a direct relationship with the consumer and the disintermediation of the sale of these innovative products.
The selected startups must have the ambition to revolutionize the sector, and have a very clear focus on the commercial viability of the projects and their contribution to the industry, with a real impact on the economy and society. The program is focused on the establishment and consolidation of new companies.
What kind of projects is the program looking for?
- Packaged products with a focus on sustainability.
- Foods or beverages with a positive effect on health (extra energy intake, proteins, superfoods…).
- Products with improved nutritional composition (short list of ingredients or without superfluous additives).
- Ready-to-eat or easy-to-prepare foods and beverages (snacks/prepared meals).
Who is the program aimed at?
The incubator is aiming to receive projects with less than 12 months of life, still in the idea phase or projects that need to transform/pivot. Also, innovative projects developing packaged food and beverages, responding to new consumer needs.
Some of the areas considered of interest may be:
- Packaged products with a focus on sustainability.
- Foods or beverages with a positive effect on health (extra energy intake, proteins, superfoods, etc.).
- Products with improved nutritional composition (short ingredient lists or without superfluous additives).
- Ready-to-eat or easy-to-prepare foods and beverages (snacks/prepared meals).
Projects that will also be especially valued include having advanced business models that allow a direct relationship with consumers and facilitate access to these new products; projects that have an ambitious team willing to scale their project; projects that have not yet received their first investment or are planned as self-employment projects; and projects promoted by unemployed or economically vulnerable people will be especially valued. All projects must be based in the Community of Madrid.
What does the program offer?
A 12-week personalized theoretical and practical program in which participants will enjoy a free coworking space in Madrid Food Innovation Hub, located in the Villaverde district of Madrid, equipped with a kitchen and laboratory with everything necessary for concept testing.
Participants will also benefit from weekly tutorials with the program director to advance in the development of the project, in addition to mentoring sessions with experts. They will also have access to the largest network of food entrepreneurs with more than 25,000 people.
Moreover, there will be a demo day to present the projects and test days with consumers. This wil include a network of potential investors, venture capitals, business angels and corporations.
Visit the website for more information!
