LAUSANNE, SWITZERLAND MassChallenge Switzerland, part of MassChallenges global network of zero-equity startup accelerators, announced that it will run a food tech track in its 2018 cohort by partnering with the European Institute of Innovation and Technology (EIT) Food Accelerator Network. EIT Food is a European Union funded consortium project with 50 members, including Nestl Bler and Givaudan - all partners of MassChallenge Switzerland - which focuses on entrepreneurship and innovation in the food sector.
"The challenges imposed by demography and consumption habits have a tremendous impact on how we produce and consume food. This means we need to innovate very rapidly in order to help the food industry evolve. EIT FAN with MassChallenge Switzerland provides the environment to foster such an evolution, said Thierry Duvanel, Managing Director of MassChallenge Switzerland.
Ian Roberts, Activity Leader at EIT FAN, said: The aim of the EIT Food Accelerator Network is to support agri-food startups to succeed. Combined with the sector expertise of the EIT FAN partners, this four month accelerator program provides a startup with the equivalent of 12 months of business development.
MassChallenge Switzerland will run the EIT Food Accelerator Networks Swiss Program, one of our programs that will be delivered across Europe, with the goal of advancing high-impact agri-food startups and maximizing their success. Held in Germany, Israel, Switzerland, and the United Kingdom, the EIT Food Accelerator Network with MassChallenge will make Europe the go-to innovation hub for the worlds most promising food startups.
Over a four-month acceleration period, start-ups will have access to tools, connections, mentors, and expertise to help them to succeed. The best startups from all locations will be awarded equity-free cash prizes. At each location, startups will receive access to technology, pilot sites and international markets as well as coaching and mentorship by leading food sector players and world-renowned academics with specialized knowledge and skills. Both a broad entrepreneurship curriculum and a food-focused syllabus will equip agri-food startups with the knowledge they need to succeed. At the end of the program, the three best startups from all locations will each be awarded 60,000 in equity-free cash prizes.
About EIT Food
European Institute of Innovation and Technology (EIT) Food is a pan-European consortium that focuses on enrepreneurship and innovation in the food sector. The members of the EIT Food community are world-class players in the international food domain: over 50 partners from leading businesses, research centers and universities across 13 countries. EIT Food is structured around five regional innovation hubs, each covering several EIT Food partners and partner countries. EIT Foods vision is to put Europe at the centre of a global revolution in food innovation and production, and its value in society. EIT Food will engage consumers in the change process, improve nutrition and make the food system more resource-efficient, secure, transparent and trusted. For more information about the EIT Food Accelerator Network, visit https://www.eitfan.eu/
MassChallenge is a global network of zero-equity startup accelerators. Headquartered in the United States with locations in Boston, Israel, Mexico, Switzerland, Texas, and the UK, MassChallenge is committed to strengthening the global innovation ecosystem by supporting high-potential early stage startups across all industries, from anywhere in the world. To date, 1,495 MassChallenge alumni have raised over $3 billion in funding, generated over $2 billion in revenue, and created over 80,000 total jobs. Learn more about MassChallenge at masschallenge.org.
MassChallenge Switzerland Founding Partners
Barry Callebaut, Bler, GEA, Givaudan, Inartis Foundation, Nestl Swiss Economic Forum