Can you give us a little insight into the BIV Food Accelerator program and explain what participating startups can expect from it?
We focus specifically on plant-based foods, cell-based foods, technologies and ingredients. Our goal is to raise 50 million dollars in total for the first fund and so far we have Tyson Foods, Temasek and others on board.
Our program is dedicated to startups that are providing plant-based and cell-based alternatives to meat, seafood and dairy and develop alternative ingredients and technologies that enhance these spaces.
With our New Protein Fund, we are investing in companies across three categories: plant-based products, cell-based meats and ecosystem drivers in technology and ingredients.
We then work with those companies in our BIV Food Accelerator, a five-month program based in New York and Singapore. Each Accelerator participant receives 125 thousand dollars cash investment and 75 thousand dollars in-kind investment.
How is the Accelerator program structured?
Within our 5-month program, we scale by bringing in business experts and mentors. We found that companies that go through aggressive growth have specific points in their evolution as businesses, where they are vulnerable to collapse.
In our Accelerator program, we are focused on bringing in the right experts early. We help startups find the right partners for scaling the business as well as match them with the best ingredient companies and manufacturers to make sure the product is as good as it can be.