Food-X, #1 Food innovation accelerator

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Location (s):

  • United States of America
New York City

Overview

Food-X is the #1 Food Innovation Accelerator in the World. Founded in 2014, Food-X is the first international business accelerator program focused on launching food-related ventures with a multi-stage evergreen fund SOSV. Food-X partners with early-stage food entrepreneurs to bring out their best potential and take them and their products and services successfully to market in areas of food & beverage, health, and environment that are ripe for disruption. Whether your revolutionary solution is upstream or downstream, agricultural or technology-based, we will consider providing funding and mentorship to accelerate your company to do well by bringing real change.

Details

Despite or because of all the conveniences of modern industrial societies, what we are eating is damaging the health of our populations and of our agricultural systems. Much of modern medicine is focused on treating diet-related diseases, which have become widespread and pervasive. Environmental issues related to industrial agricultural systems are also of serious concern, not only to us but to future generations. We are twice as large and are living twice as long as compared to traditional agrarian societies, but we are not that much happier or healthier. Food needs a revolution. Food-X is taking on these radical challenges by bringing together markets and education, combining entrepreneurship, peer learning, mentor coaching, and financial leverage. Trial and error, essential to entrepreneurship, will be experienced through multiple cycles in a very condensed period of time, accelerating a year of progress into 14 weeks.

Food-X partners with early stage companies from across the food supply chain, from agriculture through consumer packaged goods, and helps these companies grow fast through:

  • Startup Capital: Up to $65K in initial capital as well as the potential for follow-on funding
  • Mentorship: Access and workshops with food industry leaders, experts-in-residence, and specialists across the critical functions of your business
  • Network: Access to a world-class network of leading food companies, investors and press
  • Curriculum: based on years of learnings from SOSV’s accelerators & experts
  • Coworking Space: Collaborative co-working with like-minded food entrepreneurs
  • Alumni Network: A powerful alumni network of over 1000 SOSV startup founders

How it Works

  • Companies that receive investment from us join us for a 4-month program tailored to strategically build your network of mentors, advisors, and investors to navigate your business through seed-funding and beyond.
  • Companies meet regularly with our team, mentors, alumni, and experts in residence to identify the right marketing message, improve your user experience, refine your operations, and much more – often achieving in weeks what other founders take months or years to accomplish.
  • Opportunities to refine and present your company pitch to our co-investor network run throughout the length of the program.
  • The Food-X accelerator program is only the beginning: we co-invest in later rounds with alumni companies, help make connections, and offer continued support via a global network of SOSV alumni and advisors.

What You Get

We provide startup capital, hands-on help, mentorship, and our global network of food business thought leaders. Our fast-growing family of hundreds of experienced entrepreneurs, industry experts and growth hackers are keen to pass their hard-earned experience and knowledge on to you. We are eager to help you overcome your production woes, identify the right marketing message, improve your user experience, or figure out retail distribution. We’ve been there. We’ve felt the intense pressure of launching a business; and we want to help you launch yours fast.

The program is 14 weeks and to make the most of the program we require meaningful office presence.

Opportunity is About:


Eligibility

Candidates should be from:

Description of Ideal Candidate:

  • Companies from any part of the food supply chain are considered, including but not limited to farming, ag-tech, food distribution, retail, wellness, consumer packaged goods, food-related apps, and green/clean tech.
  • We prefer companies with at least two founders with a spread of capabilities and experience. The product or service you are offering must be beyond the “idea stage” and ideally, you should be able to demonstrate traction in some way. To us, traction means that you can show that what you have built or created meets a need and that there is a large enough market for it. While a single founder could be accepted, we strongly encourage single founders to find at least one suitable co-founder prior to the program.
  • We do not fund companies that are directly competitive with any company in Food-X or the SOSV portfolio.

Dates:

Deadline: November 01, 2021


Cost/funding for participants:

In exchange for 8% equity in your company, you get

  • $70k in cash when you start the program
  • A program worth $55K
  • A collaborative co-working office space and copious meeting space
  • Access to our expert mentorship & global entrepreneur network
  • A community of 1000+ SOSV entrepreneurs, all keen to help you reach your goals
  • Access to our co-investor network for your Seed round
  • Follow-on investments up to round B
  • Global press & media spotlight on Demo Day
  • Access to $500k+ in partner benefits and perks
  • The fastest route to hyper growth and massive success
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