Mondelēz International's Global R&D Team Opens Applications for Second CoLab Tech Program
Mondelēz International announced the opening of applications for the second year of its CoLab Tech program, an R&D accelerator targeting start-ups in nutrition, ingredients, packaging, and sustainability. The program will select up to ten companies, offering an 8-week curriculum featuring virtual sessions, one-on-one mentorship, and potential for proof-of-concept testing. This initiative aligns with Mondelēz's strategy to drive innovation in chocolate, biscuits, and baked snacks, providing early access to new technologies that could lead to breakthrough products. The program is open to global start-ups with a minimum viable product and at least five employees. Diverse and minority board members are a plus for selection.
- Applications are open globally, increasing the pool of innovative start-ups.
- Program offers one-on-one mentorship and potential proof-of-concept testing, enhancing value for participants.
- Focus areas (nutrition, ingredients, packaging, sustainability) align with current consumer trends.
- The first CoLab Tech cohort demonstrated successful collaborations, validating the program's concept.
- The program supports Mondelēz's growth strategy in core categories like chocolate, biscuits, and baked snacks.
- The program's success depends on the quality and innovation level of applying start-ups, which is uncertain.
- The impact on Mondelēz's revenue and stock performance from this program remains speculative.
- The initiative requires significant resources and time from Mondelēz's R&D team, potentially diverting focus from other projects.
- CoLab Tech is Mondelēz International's R&D accelerator program for emerging food technology start-ups
- Up to ten companies will be selected in the areas of nutrition, ingredients, packaging and sustainability
- The 8-week program will include virtual sessions, 1:1 mentorship, and the potential for proof of concept testing
- Applications are now open to companies globally at www.snackfutures.com
CHICAGO, IL / ACCESSWIRE / May 16, 2024 / Mondelēz International, Inc. (NASDAQ:MDLZ), announced that applications are now open for the second year of its CoLab Tech program. This accelerator program, led by Mondelēz's global R&D team, seeks early-stage companies that have developed innovative technologies in nutrition, ingredients, packaging, and sustainability.
CoLab Tech plays an important role in Mondelēz's growth strategy to accelerate innovation in its core categories of chocolate, biscuits, and baked snacks The selected cohort will provide the R&D team with early access to new capabilities that can help in the development of breakthrough products and platforms.
"Our R&D team is at the forefront of Mondelēz's commitment to empowering people around the world to snack right," said Ian Noble, VP of R&D at Mondelēz International. "As consumers increasingly prioritize personal well-being, planet positive choices, and more interesting eating experiences, we need to look to groundbreaking entrepreneurs who have developed new tools and technologies that enable us to continue leading the future of snacking."
This year's CoLab Tech priority areas are:
- Packaging: Materials that are recyclable, high performing, and flexible; can enable a low environmental impact; and can support premium products.
- Ingredients: Enable innovation in core categories of chocolate, biscuits, and baked snacks with clean, ‘free from' ingredients; sugar and calorie reduction; plant-based positive nutrition; functional actives; and elevated sensorial experiences.
- Sustainability: Can reduce environmental impact through water and energy optimized ingredient mixing and product forming solutions; more efficient and sustainable heating processes; efficient selective concentration and recovery of compounds; and novel bio-gas generation and supply solutions.
Paula Hemerly, CoLab Tech Program Manager, said the first CoLab Tech cohort has already demonstrated the value of ‘big and small' working together to accelerate the promise of food technology.
"Last year's cohort really opened our eyes to what's possible in snack innovation," Hemerly said. "We are already collaborating with some of the participants to put their technologies into practice and are very excited about what this new class will bring."
The eight-week CoLab Tech curriculum consists of virtual sessions, 1:1 mentoring, and has the potential for proof-of-concept testing.
It is open to start-ups across the globe who have reached a minimum viable product in their development process and have a minimum of five employees. Start-ups with diverse and minority board members will be considered a plus for selection. For more information and to apply to the CoLab Tech program, visit www.snackfutures.com.
About Mondelēz International
Mondelēz International, Inc. (Nasdaq: MDLZ) empowers people to snack right in over 150 countries around the world. With 2023 net revenues of approximately
Forward-Looking Statements
This press release contains forward-looking statements. Words, and variations of words, such as "will," "may," "expect," "plan," "continue" and similar expressions are intended to identify these forward-looking statements, including, but not limited to, statements of belief or expectation and statements about Mondelēz International's leadership position in snacking. These forward-looking statements are subject to change and to inherent risks and uncertainties, many of which are beyond Mondelēz International's control, which could cause Mondelēz International's actual results or outcomes to differ materially from those projected or assumed in these forward-looking statements. Please also see Mondelēz International's risk factors, as they may be amended from time to time, set forth in its filings with the U.S. Securities and Exchange Commission, including its most recently filed Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. There may be other factors not presently known to Mondelēz International or which it currently considers to be immaterial that could cause Mondelēz International's actual results to differ materially from those projected in any forward-looking statements it makes. Mondelēz International disclaims and does not undertake any obligation to update or revise any forward-looking statement in this press release, except as required by applicable law or regulation.
| Contacts: | Desiree Battaglia (Media) 1-847-943-4772 news@mdlz.com |
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SOURCE: Mondelēz International
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