Mondelez India Selects Five Startups for CoLab Accelerator Program
- ByStartupStory | August 1, 2023
Mondelez International, in collaboration with Huddle, has chosen five innovative start-ups to participate in the CoLab accelerator program, aimed at revolutionizing the snacking industry in India. The selected cohort includes Flyberry, TruVitals, Evolve Snacks, Happy Jars, and Nova Nova, representing a diverse group of snacking brands with various formats, well-being propositions, commercial excellence, and robust omnichannel plans. These start-ups were handpicked from a competitive pool of over 250 applications across categories like baked snacks, chocolates, confectionery, and savory snacks from all corners of India. The joint initiative between Mondelez and Huddle aims to nurture India’s burgeoning entrepreneurial ecosystem, fostering growth, innovation, and leadership in the country’s snacking sector.
The five chosen start-ups will embark on a 12-week curriculum featuring weekly virtual sessions and in-person interactions with mentors from Mondelez India and industry experts. The program will culminate in a showcase event, where the selected start-ups will have the opportunity to pitch their ideas and secure funding from Huddle and potential investors, propelling them towards their next phase of growth.
The accelerator program is set to feature more than 35 industry leaders from India and abroad as mentors for the shortlisted start-ups, providing guidance on pertinent business themes such as product manufacturing, packaging, design, corporate governance, and logistics. The roster of mentors includes Nitin Saini, Vice President – Marketing; Varinder Jaswal, Senior Director R&D (chocolate); Sonali Mitra, Director, Strategy; Tejas Mehta, VP, Finance; Sree Patel, Executive Director & Chief Counsel, Desmond D’souza – Senior Director – Sales, among others from Mondelez India, along with Vishesh Khurana (Shiprocket), OmPrakash Muppirala (Fountain India), Anand Shankar (Sharrp Ventures), Ashwin Bhadri (Equinox), Ankita Balotia (Fireside Ventures), and more, in addition to leadership from Huddle.
Sonali Mitra, Director-Strategy, Mondelez India, expressed excitement about the first class of the CoLab India Accelerator stating, “We’re thrilled to announce the cohort for the first class of the CoLab India Accelerator. Each of these remarkable start-ups epitomize the essence of innovation and hold the potential to reshape the trajectory of the snacking industry in India. The disruptively delicious offerings across each of the chosen five are underpinned by the customer centric innovation approach, scalable business propositions, and inspiring journey so far by the respective founders. Working with them as part of the CoLab program is going to move the needle on their brands, support our innovation agenda, and ultimately help deliver on consumers’ desire for right snacks, for the right moment, made the right way.”
Sanil Sachar, Founding Partner, Huddle said, “There’s a playbook that has worked for several brands that have become household names, and with CoLab India, our objective as avid backers in building early-stage brands, the endeavor is to assist the selected cohort in learning and growing from this playbook. Our approach has always been driven by a shared learning across categories and with our startups here we aim to get them to cater to a larger audience available across the diverse consumer sets they are targeting. Most importantly, with CoLab India, our goal is to bring together the key stakeholders to ensure this ecosystem builds in a continuous and sustainable manner.
The five shortlisted start-ups offer unique contributions to the snacking industry:
Flyberry: Offers nutrient-rich, natural date-based products, including date syrup and date powder, promoting healthy and safe food consumption with advanced technologies and sustainability practices.
TruVitals: Provides healthier alternatives for kids’ snacks, creating nutri-dense bites using scientifically proven ingredients, without compromising on nutrition or adding harmful additives.
Evolve Snacks: Promotes healthy eating habits by substituting carbohydrates with protein and healthy fat components, offering a diverse range of savory snacks.
Happy Jars: Stands out with its range of healthy nut butters made from natural peanuts, catering to the health-conscious and fitness enthusiasts.
Nova Nova (formerly Waffle House): Started as a QSR outlet specializing in waffles, now expanded to multiple product categories, including waffle cookies, catering to a wider consumer base through the D2C online space.
Launched in February 2023, the CoLab accelerator program reaffirms Mondelez’s commitment to fostering innovation, supporting emerging businesses, and delivering innovative, wholesome snacking options to meet evolving consumer preferences.
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