Founded in 1969, Pascual, a leader in the food sector, has a range of more than 200 products, 6 factories, 27 local offices, and more than 2,000 employees in the 63 countries in which it operates. Pascual advocated from the beginning for the creation of a branch of the company dedicated to Corporate Venturing: Pascual Innoventures.
Startup Program: Mylkcubator
In 2020, Pascual and Eatable Adventures launched a collaborative challenge dedicated to international startups active in the production of solutions for the plant-based dairy sector. In May 2021, Mylkcubator was launched, the first incubator in the world to specialize in the development of innovation projects for the dairy sector.
In 2022 the second edition was launched, and 2023 welcomed Mylkcubator’s third edition “More than Mylk” which accelerates cutting-edge startups focused on revolutionizing the food industry, spanning Alternative Dairy, Alt. Egg, Coffee, Lipids, Cocoa, Sodium & Sweetener Replacements, and Functional Ingredients. 4 early-stage startups from different continents are chosen for these programs, and the main Venture Capital of the sector gets together to gain access to the Mylkcubator deal flow.
The results
The Mylkcubator startup ecosystem (first and second cohorts) has generated a total value of over $107M. Mylkcubator startups have raised a total of $14.4M in investment since inception, reflecting the success of this incubation programme. The editions of Mylkcubator have been incredibly successful, positioning Pascual worldwide as an innovative and cutting-edge company.
“The quality of the startups selected in the first edition has been amazing and shows us that this is clearly the way to go. The visibility of these projects, as well as the investment rounds they are receiving, is a sign that the industry is prepared for this technological transition.”– Gabriel Pascual, director of Pascual Innoventures
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