Accelerator investment scheme promises £250k of food start-up funding
Three food entrepreneurs are seeking applications from small producers to join a new programme that promises a slice of £250,000 investment pot as well as business mentoring.
Grocery Accelerator is offering up to £50,000 in seed funding – in return for a stake in the business – to five early stage food and drink businesses.
This “accelerator” model will also see the successful applicant receive an “intensive” six-month package of mentoring and business support from industry professionals.
Other benefits include financial planning advice and arranged meetings with buyers, manufacturers and branding companies.
Grocery Accelerator has been set up by former fruit supplier Rob Ward, Paddy Willis co-founder of children’s brand Plum Baby and Lily’s Kitchen commercial director Simon Lacey.
“What is working in other industries, particularly in West Coast USA, is new business growth model, where there is seed investment combined with a business ‘accelerator’,” said Rob Ward. “This system has dramatically improved the odds of survival for these early-stage businesses.”
For more information, or to apply, visit www.groceryaccelerator.co.uk